Tuesday, August 5, 2008

Best Buy to open 200 shops in UK

Best Buy to open 200 shops in UK

Best Buy, a leading consumer electronics shop in the States is planning on opening up 200 stores across the UK; the company ponied up £1.1 billion for half the stake in Carphone Warehouse (a "world-leading independent mobile phone retailer") earlier this year.

The shops should be implemented starting in 2009, with five opening at launch; other European markets will see the stores later on. Evidently they're playing it smart and avoiding areas with heavy rival competition (i.e. Germany, France), putting themselves up against less threatening chains like Currys and PC World.

Carphone Warehouse has talked about its new "broad store format", and details are to follow soon; economic turndown resulted in a 45 percent hit to the company's shares this year.

GameStop is another big one; they've opened up a test store in the UK and are expected to open over 600 shops worldwide this year, according to a news release. Going by the above news, I'm guessing the company will have their eye on Best Buy to see how they do, being a rival company back home.