Best Buy may halt UK expansion plans
Best Buy UK may be forced to abandon its expansion plans in the UK due to the continuing slowdown in the demand for consumer electronics.
The business is said to be carrying out a review of its future strategy following an earlier admisson that it will not meet its target of opening 80 stores in the UK by 2013.
The retailer has opened ten UK stores to date, with a further store to open by the end of the year, but may halt its expansion after that.
Best Buy entered Europe last year in a joint venture with Carphone Warehouse. The retailer said it would revolutionise the market with competitive prices and its American style high quality service delivered by its Blueshirts sales advisers who did not receive commission.
The business is not expected to be ready to announce any firm decision on its future plans by Tuesday when Carphone Warehouse makes its results announcement.
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