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Best Buy Co., Inc. logo

Best Buy Co., Inc.


2019 Vault Rankings

About Best Buy Co., Inc.

Best Buy is one of the largest consumer electronics outlets in the US and beyond. The multinational retailer sells both products and services through roughly 1,700 retail, mobile stand-alone, and smaller express stores under the Best Buy, Best Buy Express, Best Buy Mobile, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, and Pacific Kitchen and Home Sales banners. Its stores sell a variety of electronic gadgets and wearables, tablets, movies, music, computers, mobile phones, and appliances. On the services side, it offers installation and maintenance, technical support, and subscriptions for mobile phone and Internet services.


Best Buy's operations consist of its Domestic and International segments. The Domestic segment, which made up 92% of the retailer's total sales in fiscal 2017 (ended January), focuses on the US market, where Best Buy Mobile (mobile sales and service), Geek Squad (technology support services), and Pacific Sales (kitchen appliance sales and installation) can be found in US Best Buy stores using the store-within-a-store format. Some also operate as standalone stores.

The company's International segment (8% of revenue) focuses on markets in Canada and Mexico. It counts the sales in Canada under the Best Buy (, Best Buy Mobile, Cell Shop, Future Shop (, and Geek Squad; as well as sales in Mexico under the Best Buy (, Best Buy Express, and Geek Squad brands.

Product-wise, the company generated more than 45% of its total revenue from computers and mobile phone sales in 2017, while over 30% of its revenue came from consumer electronic sales. The remaining revenue came from Entertainment (nearly 7%), Appliances (6%), and Services (5%).

Geographic Reach

Best Buy generated more than 90% of its total sales in the US during 2017, while Canada contributed more than 5%. Its third-largest market is Mexico. The retailer also has a presence in Bermuda, China, Germany, Hong Kong, Luxembourg, the Republic of Mauritius, Turks and Caicos, and the UK, among other countries.

Sales and Marketing

Best Buy purchases its merchandise from a variety of suppliers, though in 2017, the company purchased 53% of its merchandise from five main suppliers: Apple, Samsung, Hewlett-Packard, Sony, and LG Electronics.

Financial Performance

Best Buy's annual sales have declined over the past few years due to fierce competition from larger or online retailers. Its revenue fell marginally by 0.3% to $39.4 billion during fiscal 2017 (ended January), mostly as its international business was hurt by unfavorable foreign currency exchange rates and Canadian store closures amidst the soft economy there.

Domestic revenue in 2017 was also affected by a 14% decrease in Entertainment sales driven by declines in gaming, music, and movies due to continued industry declines. US online revenue, however, grew by 21% with increased traffic and higher conversion rates.

The retailer's profits have fluctuated over the years; after declining to $897 million in 2016, profits surged 37% to $1.23 billion in 2017. This was attributed to a major decrease in restructuring charges in 2017 compared to the previous year. In addition to profits, Best Buy's operating cash flow has oscillated; after dipping in 2016, cash flow jumped in 2017 due to the timing of inventory purchasing and payments and increased earnings.


Struggling from declining sales amidst stiff competition from retailers like Amazon and Wal-Mart, Best Buy reiterated that in 2016 and beyond, it would look for ways to optimize store space, renegotiate leases, and selectively open and close locations to support the company's long-term transformation. It is also focusing on important key products, including emerging product categories like connected home products and appliances as a means to attract additional customers.

Embarking into new business territory, Best Buy in 2016 began pushing its Magnolia Design Center stores-with-a-store, which help customers create a custom living room of Best Buy entertainment center furniture and electronics. During 2015, Best Buy worked to expand its growing categories with structural barriers to entry, such as large appliances and mobile, opening 60 new Pacific Kitchen & Home stores-within-a-store during fiscal 2016. It also planned to bring its popular installment billing service to its online platforms.

Best Buy has also been utilizing its Renew Blue cost reduction program to drastically cut costs and boost its bottom line in recent years. In 2015, the retailer successfully eliminated some $1.02 billion in annualized costs through its cost reduction program. During 2016 and 2017, it eliminated $350 million in costs.

Best Buy continues to face challenges in growing internationally. Regrouping in Canada in 2016, Best Buy was forced to close 66 struggling Future Shop stores and consolidate its remaining 65 Future Shop and Best Buy stores and websites into the Best Buy brand in the region. Nevertheless, the company plans to expand its International segment by expanding the launch of successful store remodels in Canada and by opening nine new stores in Mexico during 2017 through 2019.

Best Buy Co., Inc.

Richfield, MN 55423-3683
Phone: 1 (612) 291-1000


Employer Type: Publicly Owned
Stock Symbol: BBY
Stock Exchange: , NYSE
CFO: Corie S. Barry
Chairman and CEO: Hubert Joly
SEVP and Chief Merchandising and Marketing Officer: R. Michael Mohan
Employees (This Location): 120
Employees (All Locations): 125,000

Major Office Locations

Richfield, MN

Other Locations

Anchorage, AK
Alabaster, AL
Birmingham, AL
Dothan, AL
Fultondale, AL
Hoover, AL
Huntsville, AL
Mobile, AL
Montgomery, AL
Opelika, AL
Oxford, AL
Prattville, AL
Spanish Fort, AL
Tuscaloosa, AL
Benton, AR
Conway, AR
Fayetteville, AR
Fort Smith, AR
Hot Springs, AR
Jonesboro, AR
Little Rock, AR
North Little Rock, AR
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Avondale, AZ
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Flagstaff, AZ
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Goodyear, AZ
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Oro Valley, AZ
Phoenix, AZ
Prescott, AZ
Scottsdale, AZ
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Surprise, AZ
Tempe, AZ
Tucson, AZ
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Anaheim, CA
Apple Valley, CA
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Canoga Park, CA
Capitola, CA
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Chico, CA
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Chino Hills, CA
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Citrus Heights, CA
City Of Industry, CA
Clovis, CA
Colma, CA
Compton, CA
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Corona, CA
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Dublin, CA
El Cajon, CA
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Encinitas, CA
Escondido, CA
Fairfield, CA
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Hawthorne, CA
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Irvine, CA
La Jolla, CA
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Menifee, CA
Merced, CA
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Modesto, CA
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Danbury, CT
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Miami, FL
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Panama City, FL
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Spring Hill, FL
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Acworth, GA
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Kennesaw, GA
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Morrow, GA
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Warner Robins, GA
Aiea, HI
Honolulu, HI
Ames, IA
Ankeny, IA
Cedar Rapids, IA
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Dubuque, IA
Mason City, IA
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Nampa, ID
Twin Falls, ID
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Bloomington, IL
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Tinley Park, IL
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Avon, IN
Bloomington, IN
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Fort Wayne, IN
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Mishawaka, IN
Muncie, IN
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Richmond, IN
Terre Haute, IN
Valparaiso, IN
Lawrence, KS
Manhattan, KS
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Bowling Green, KY
Brooks, KY
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Florence, KY
Lexington, KY
Louisville, KY
Owensboro, KY
Paducah, KY
Shepherdsville, KY
Alexandria, LA
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Kenner, LA
Lafayette, LA
Lake Charles, LA
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New Orleans, LA
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Slidell, LA
Boston, MA
Braintree, MA
Brockton, MA
Burlington, MA
Cambridge, MA
Danvers, MA
Dedham, MA
Dorchester, MA
Everett, MA
Framingham, MA
Holyoke, MA
Hyannis, MA
Leominster, MA
Mansfield, MA
Marlborough, MA
Milford, MA
Millbury, MA
Natick, MA
North Attleboro, MA
North Dartmouth, MA
Peabody, MA
Plymouth, MA
Saugus, MA
Seekonk, MA
Watertown, MA
Worcester, MA
Annapolis, MD
Baltimore, MD
Bel Air, MD
Bethesda, MD
Bowie, MD
California, MD
College Park, MD
Columbia, MD
Elkridge, MD
Frederick, MD
Gaithersburg, MD
Germantown, MD
Hagerstown, MD
Hanover, MD
Lanham, MD
Laurel, MD
Lutherville Timonium, MD
Owings Mills, MD
Rockville, MD
Salisbury, MD
Towson, MD
Waldorf, MD
Wheaton, MD
White Marsh, MD
Augusta, ME
Bangor, ME
South Portland, ME
Allen Park, MI
Ann Arbor, MI
Auburn Hills, MI
Battle Creek, MI
Benton Harbor, MI
Bloomfield, MI
Chesterfield, MI
Dearborn, MI
Farmington Hills, MI
Flint, MI
Fort Gratiot, MI
Grand Rapids, MI
Holland, MI
Jackson, MI
Lansing, MI
Livonia, MI
Madison Heights, MI
Marquette, MI
Midland, MI
Muskegon, MI
Norton Shores, MI
Novi, MI
Okemos, MI
Portage, MI
Rochester Hills, MI
Roseville, MI
Saginaw, MI
Southfield, MI
Taylor, MI
Traverse City, MI
Troy, MI
Utica, MI
Westland, MI
Apple Valley, MN
Athens, MN
Baxter, MN
Blaine, MN
Bloomington, MN
Burnsville, MN
Duluth, MN
Eagan, MN
Eden Prairie, MN
Hutchinson, MN
Lakeville, MN
Mankato, MN
Maple Grove, MN
Maplewood, MN
Minneapolis, MN
Minnetonka, MN
North Little Rock, MN
Oakdale, MN
Richfield, MN
Rochester, MN
Roseville, MN
Saint Cloud, MN
Saint Paul, MN
Shakopee, MN
Stillwater, MN
Branson, MO
Bridgeton, MO
Cape Girardeau, MO
Chesterfield, MO
Columbia, MO
Fenton, MO
Independence, MO
Jefferson City, MO
Joplin, MO
Kansas City, MO
Lees Summit, MO
Manchester, MO
Saint Joseph, MO
Saint Louis, MO
Saint Peters, MO
Springfield, MO
Wentzville, MO
Diberville, MS
Flowood, MS
Gulfport, MS
Madison, MS
Meridian, MS
Southaven, MS
Tupelo, MS
Billings, MT
Missoula, MT
Aberdeen, NC
Arden, NC
Asheville, NC
Burlington, NC
Cary, NC
Charlotte, NC
Concord, NC
Durham, NC
Fayetteville, NC
Garner, NC
Gastonia, NC
Greensboro, NC
Greenville, NC
Hickory, NC
Jacksonville, NC
Knightdale, NC
Matthews, NC
Mooresville, NC
Morehead City, NC
Pineville, NC
Raleigh, NC
Waynesville, NC
Wilmington, NC
Wilson, NC
Winston Salem, NC
Bismarck, ND
Fargo, ND
Grand Forks, ND
Minot, ND
Grand Island, NE
Lincoln, NE
Omaha, NE
Papillion, NE
Concord, NH
Manchester, NH
Nashua, NH
Newington, NH
Salem, NH
West Lebanon, NH
Brick, NJ
Bridgewater, NJ
Cherry Hill, NJ
Deptford, NJ
East Brunswick, NJ
East Hanover, NJ
Eatontown, NJ
Edison, NJ
Freehold, NJ
Holmdel, NJ
Iselin, NJ
Jersey City, NJ
Manahawkin, NJ
Mays Landing, NJ
Monmouth Junction, NJ
Moorestown, NJ
Mount Laurel, NJ
Paramus, NJ
Phillipsburg, NJ
Princeton, NJ
Riverdale, NJ
Rockaway, NJ
Secaucus, NJ
Union, NJ
Vauxhall, NJ
Vineland, NJ
Wayne, NJ
Woodbury, NJ
Woodland Park, NJ
Albuquerque, NM
Farmington, NM
Las Cruces, NM
Santa Fe, NM
Carson City, NV
Henderson, NV
Las Vegas, NV
Reno, NV
Sparks, NV
Albany, NY
Amherst, NY
Baldwin, NY
Bay Shore, NY
Bronx, NY
Bronxville, NY
Brooklyn, NY
Buffalo, NY
Cheektowaga, NY
De Witt, NY
East Northport, NY
Elmhurst, NY
Elmira, NY
Farmingdale, NY
Flushing, NY
Hartsdale, NY
Huntington Station, NY
Ithaca, NY
Kingston, NY
Levittown, NY
Liverpool, NY
Long Island City, NY
Middletown, NY
Mohegan Lake, NY
Monroe, NY
Mount Vernon, NY
New Hartford, NY
New York, NY
Nichols, NY
Patchogue, NY
Plattsburgh, NY
Poughkeepsie, NY
Riverhead, NY
Rochester, NY
Rockville Centre, NY
Saratoga Springs, NY
South Setauket, NY
Staten Island, NY
Syracuse, NY
Valley Stream, NY
Vestal, NY
Victor, NY
Watertown, NY
Westbury, NY
West Nyack, NY
Yonkers, NY
Akron, OH
Avon, OH
Beavercreek, OH
Boardman, OH
Canton, OH
Cincinnati, OH
Cleveland, OH
Columbus, OH
Copley, OH
Cuyahoga Falls, OH
Dayton, OH
Dublin, OH
Elyria, OH
Fairfield Township, OH
Findlay, OH
Grove City, OH
Heath, OH
Holland, OH
Lancaster, OH
Macedonia, OH
Marysville, OH
Mayfield Heights, OH
Mentor, OH
Niles, OH
North Olmsted, OH
Ontario, OH
Ravenna, OH
Reynoldsburg, OH
Sandusky, OH
Springfield, OH
Strongsville, OH
Toledo, OH
Wooster, OH
Youngstown, OH
Ardmore, OK
Midwest City, OK
Moore, OK
Muskogee, OK
Norman, OK
Oklahoma City, OK
Owasso, OK
Stillwater, OK
Tulsa, OK
Beaverton, OR
Bend, OR
Gresham, OR
Happy Valley, OR
Medford, OR
Portland, OR
Salem, OR
Springfield, OR
Tualatin, OR
Altoona, PA
Bensalem, PA
Bethel Park, PA
Camp Hill, PA
Collegeville, PA
Cranberry Township, PA
Dickson City, PA
Downingtown, PA
Easton, PA
Erie, PA
Exton, PA
Fairless Hills, PA
Harrisburg, PA
Homestead, PA
Johnstown, PA
King Of Prussia, PA
Lancaster, PA
Langhorne, PA
Mechanicsburg, PA
Monroeville, PA
Muncy, PA
Munhall, PA
North Wales, PA
Philadelphia, PA
Pittsburgh, PA
Plymouth Meeting, PA
Quakertown, PA
Scranton, PA
Selinsgrove, PA
Springfield, PA
State College, PA
Stowe, PA
Stroudsburg, PA
Tarentum, PA
Whitehall, PA
Wilkes Barre, PA
Willow Grove, PA
Wyomissing, PA
York, PA
Warwick, RI
Anderson, SC
Beaufort, SC
Bluffton, SC
Charleston, SC
Columbia, SC
Florence, SC
Greenville, SC
Lexington, SC
Myrtle Beach, SC
North Charleston, SC
Rock Hill, SC
Spartanburg, SC
Summerville, SC
Rapid City, SD
Sioux Falls, SD
Brentwood, TN
Chattanooga, TN
Clarksville, TN
Farragut, TN
Franklin, TN
Goodlettsville, TN
Hixson, TN
Jackson, TN
Johnson City, TN
Kingsport, TN
Knoxville, TN
Madison, TN
Memphis, TN
Mount Juliet, TN
Murfreesboro, TN
Nashville, TN
Abilene, TX
Allen, TX
Amarillo, TX
Arlington, TX
Austin, TX
Bastrop, TX
Baytown, TX
Beaumont, TX
Brownsville, TX
Cedar Park, TX
College Station, TX
Conroe, TX
Corpus Christi, TX
Cypress, TX
Dallas, TX
Denton, TX
El Paso, TX
Farmers Branch, TX
Flower Mound, TX
Fort Worth, TX
Friendswood, TX
Frisco, TX
Garland, TX
Georgetown, TX
Grapevine, TX
Houston, TX
Humble, TX
Hurst, TX
Irving, TX
Katy, TX
Killeen, TX
Lake Jackson, TX
Laredo, TX
League City, TX
Lewisville, TX
Longview, TX
Lubbock, TX
Lufkin, TX
Mansfield, TX
Mcallen, TX
Mckinney, TX
Mesquite, TX
Midland, TX
New Braunfels, TX
Odessa, TX
Pasadena, TX
Pearland, TX
Pflugerville, TX
Plano, TX
Port Arthur, TX
Richmond, TX
Rockwall, TX
Rosenberg, TX
Round Rock, TX
San Angelo, TX
San Antonio, TX
San Marcos, TX
Selma, TX
Sherman, TX
Spring, TX
Sugar Land, TX
Temple, TX
Texarkana, TX
The Woodlands, TX
Tyler, TX
Victoria, TX
Waco, TX
Waxahachie, TX
Weatherford, TX
Webster, TX
Wichita Falls, TX
American Fork, UT
Layton, UT
Logan, UT
Murray, UT
Orem, UT
Park City, UT
Riverdale, UT
Salt Lake City, UT
Sandy, UT
Washington, UT
West Jordan, UT
Alexandria, VA
Arlington, VA
Bristol, VA
Charlottesville, VA
Chesapeake, VA
Christiansburg, VA
Colonial Heights, VA
Fairfax, VA
Falls Church, VA
Fredericksburg, VA
Gainesville, VA
Glen Allen, VA
Leesburg, VA
Lynchburg, VA
Manassas, VA
Mechanicsville, VA
Newport News, VA
North Chesterfield, VA
Reston, VA
Roanoke, VA
Springfield, VA
Stafford, VA
Staunton, VA
Sterling, VA
Vienna, VA
Virginia Beach, VA
Williamsburg, VA
Winchester, VA
Woodbridge, VA
Williston, VT
Bellevue, WA
Bellingham, WA
Bothell, WA
Burlington, WA
Everett, WA
Federal Way, WA
Issaquah, WA
Kennewick, WA
Kent, WA
Lacey, WA
Lynnwood, WA
Marysville, WA
Olympia, WA
Puyallup, WA
Seattle, WA
Silverdale, WA
Spokane, WA
Spokane Valley, WA
Tacoma, WA
Tukwila, WA
Vancouver, WA
Yakima, WA
Appleton, WI
Brookfield, WI
Delafield, WI
Eau Claire, WI
Grafton, WI
Green Bay, WI
Greendale, WI
Greenfield, WI
Janesville, WI
Kenosha, WI
Kohler, WI
La Crosse, WI
Lake Geneva, WI
Madison, WI
Menomonee Falls, WI
Milwaukee, WI
Mount Pleasant, WI
Onalaska, WI
Oshkosh, WI
Plover, WI
Racine, WI
Wausau, WI
Wauwatosa, WI
Barboursville, WV
Charleston, WV
Martinsburg, WV
Triadelphia, WV
Casper, WY
Cheyenne, WY
Ajax, Canada
Anjou, Canada
Aurora, Canada
Barrie, Canada
Bolton, Canada
Boucherville, Canada
Brampton, Canada
Brandon, Canada
Brantford, Canada
Brockville, Canada
Brossard, Canada
Burlington, Canada
Burnaby, Canada
Calgary, Canada
Charlottetown, Canada
Chatham, Canada
Chicoutimi, Canada
Chilliwack, Canada
Coquitlam, Canada
Cornwall, Canada
Cote Saint-Luc, Canada
Courtenay, Canada
Dartmouth, Canada
Delta, Canada
Drummondville, Canada
Duncan, Canada
East Gwillimbury, Canada
Edmonton, Canada
Fredericton, Canada
Gatineau, Canada
Gloucester, Canada
Granby, Canada
Grande Prairie, Canada
Greenfield Park, Canada
Guelph, Canada
Halifax, Canada
Hamilton, Canada
Kamloops, Canada
Kanata, Canada
Kingston, Canada
Kitchener, Canada
Langley, Canada
Lasalle, Canada
Lethbridge, Canada
Lloydminster, Canada
London, Canada
Markham, Canada
Mascouche, Canada
Medicine Hat, Canada
Mississauga, Canada
Moncton, Canada
Montréal, Canada
Nanaimo, Canada
Nepean, Canada
Newmarket, Canada
New Minas, Canada
New Westminster, Canada
North Bay, Canada
North York, Canada
Oakville, Canada
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Orillia, Canada
Orleans, Canada
Oshawa, Canada
Ottawa, Canada
Peterborough, Canada
Pointe-Claire, Canada
Prince Albert, Canada
Prince George, Canada
Québec, Canada
Quebec, Canada
Red Deer, Canada
Regina, Canada
Richmond Hill, Canada
Rimouski, Canada
Rosemère, Canada
Saint-Bruno, Canada
Saint-Jean-Sur-Richelieu, Canada
Saint John, Canada
Saint-Jérôme, Canada
Saint-Laurent, Canada
Sarnia, Canada
Saskatoon, Canada
Sault Ste. Marie, Canada
Scarborough, Canada
Sherbrooke, Canada
St Catharines, Canada
Stoney Creek, Canada
Surrey, Canada
Sydney, Canada
Terrebonne, Canada
Thunder Bay, Canada
Timmins, Canada
Toronto, Canada
Trois-Rivières, Canada
Unionville, Canada
Vancouver, Canada
Vaudreuil-Dorion, Canada
Vernon, Canada
Victoria, Canada
Waterloo, Canada
Westbank, Canada
West Vancouver, Canada
Whitby, Canada
Windsor, Canada
Winnipeg, Canada
Woodbridge, Canada