Hall of Fame Richard M. Schulze
Best Buy went public in 1985 and aggressively expanded its super store format to more than 40 locations, mostly in the Mid-West.
Then in 1988 Sears and Montgomery Ward both announced they would begin to sell nationally branded products in addition to their house brands.
"We didn't want to be a donor of market share to these superstores," Schulze said. "How do you differentiate your offerings in the newspapers and, for that matter, on the floor of the store or even to the consumers?"