Who Owns Magnolia Audio Video?
Magnolia Audio Video is owned by Best Buy Co., Inc., a publicly traded American multinational consumer electronics retailer founded in 1966. Best Buy acquired Magnolia Hi-Fi in 2000 and operates it as a premium home theater subsidiary. Best Buy is publicly traded on NYSE under ticker BBY and is headquartered in Richfield, Minnesota, USA.
Parent Company
Best Buy Co., Inc.
Acquired
2000
Status
Publicly Traded
Headquarters
Bellevue, Washington, USA
Who Owns Magnolia Audio Video?
- Parent Company: Best Buy Co., Inc.
- Ownership Type: Wholly owned
- Acquisition Year: 2000
- Company Type: Publicly Traded
- Stock Ticker: NYSE: BBY
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Magnolia Audio Video | Best Buy Co., Inc. | Wholly owned |
History of Magnolia Audio Video
- Founded: 1967
- Founders: Unknown (limited public information on specific founders)
- Acquired by Best Buy Co., Inc.: 2000
Magnolia Audio Video was founded in 1967 as Magnolia Hi-Fi, initially operating as a specialty audio retailer focusing on high-end audio equipment and home theater systems. The company established itself as a premium retailer serving customers seeking sophisticated audio and video solutions for their homes.
Throughout the 1970s, 1980s, and 1990s, Magnolia Hi-Fi expanded its operations, opening additional retail locations and developing expertise in custom home theater installations and high-end audio systems. The company became known for its knowledgeable staff and premium product offerings from leading audio and video manufacturers.
In December 2000, Best Buy acquired Magnolia Hi-Fi for $87 million, bringing the premium audio retailer under Best Buy's ownership. The acquisition allowed Best Buy to enter the high-end home theater market and leverage Magnolia's expertise in premium audio and video solutions.
Under Best Buy's ownership, Magnolia Audio Video has continued to operate as a premium brand within Best Buy's portfolio, with dedicated Magnolia Design Centers within select Best Buy stores and standalone Magnolia locations in major markets.
About Best Buy Co., Inc.
Best Buy delivered strong Q3 2026 results, reporting comparable sales growth of 2.7%, exceeding expectations. The company reported adjusted diluted EPS of $1.40 and GAAP diluted EPS of $0.66 for the quarter. Best Buy raised its full-year adjusted diluted EPS guidance to $6.25 to $6.35, reflecting strong performance.
CEO Corie Barry highlighted better-than-expected sales and adjusted operating income rate, with strong results across computing, gaming, and mobile phones. The company delivered sales growth across both online and stores, improved customer experience ratings, and successfully launched its Best Buy Marketplace.
For Q3 2026, domestic revenue reached $8.88 billion, increasing 2.1% versus the previous year, driven by 2.4% comparable sales growth. Domestic online revenue of $2.82 billion increased 3.5% on a comparable basis, representing 31.8% of total domestic revenue.
International revenue of $794 million increased 6.1% versus the previous year, driven by 6.3% comparable sales growth and revenue from Best Buy Express locations. The company's performance demonstrated resilience in core categories while adapting to changing consumer preferences.
- Founded: 1966
- Headquarters: Richfield, Minnesota, USA
- Company Type: Publicly Traded
- Stock: NYSE: BBY
Where Is Magnolia Audio Video Made / Based?
- Headquarters: Bellevue, Washington, USA
- Manufacturing / Operations: United States, Premium retail locations, Custom installation services
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Magnolia Audio Video Ownership: Pros & Cons
Advantages
- +Established premium audio brand with strong recognition in home theater market
- +Backed by Best Buy's extensive retail network and financial resources
- +Expertise in high-end audio and custom home integration solutions
- +Access to premium product lines from leading audio and video manufacturers
- +Professional installation and design services
- +Strong positioning in the growing home entertainment and smart home markets
Considerations
- -Competition from specialty audio retailers and custom installers
- -Market challenges from changing consumer preferences for audio consumption
- -Dependency on high-end consumer spending and luxury market trends
- -Need to maintain technical expertise across rapidly evolving audio technology
- -Economic sensitivity affecting premium home entertainment purchases
- -Integration challenges with Best Buy's mainstream retail operations
Frequently Asked Questions About Magnolia Audio Video
Where to Buy
Disclosure: We may earn commission from purchases
Magnolia Audio Video on AmazonCompetitors to Magnolia Audio Video
No direct competitors found in the same category. This could be because Magnolia Audio Videooperates in a unique market segment or we're still building our competitor database.
Best Buy Co., Inc. Stock Information
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