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Today Best Buy announced it will close 15 Canadian stores, responding to competition from electronics retailers such as Amazon and Apple. According to the Financial Post, Best Buy will replace these closers with smaller locations. The store closures represent about 10% of the company’s Canadian square footage, with layoffs of about 900 employees. Seven Best Buy and eight Future Shop stores will close.
The locations closing include:
Last year the U.S. parent company to Best Buy announced the closure of 50 stores with the intention of opening about 100 smaller ‘mobile stores’ emphasising smart phones, tables and e-readers.
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In Canada, Best Buy operates 79 stores under the Best Buy banner and 149 under the Future Shop banner, a Burnaby B.C. business acquired by the Richfield, Mn.-based big-box retailer in 2001.
[Article Source – Financial Post]
Surprised at the list. I would have thought that they'd close the Dundas/Bay location of Best Buy in Toronto, since it's so close to the Future Shop at Dundas Square (which gets more foot traffic).
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