UK Stores
The first Best Buy store in the UK opened at Junction Retail Park near Lakeside Shopping Centre in Thurrock, Essex on 30 April 2010.
20 locations were originally planned for in the coming year, all to be in the big box format. The company was looking for a flagship store in Central London in a prominent area such as Piccadilly Circus, Oxford Street, or Regent Street.
For fiscal year 2011, Best Buy UK saw full-year losses nearly triple to £62.2m, equivalent to just over £10m for each of its stores trading during the period. Growth has been slower than some expected. The company blamed the grim results on "impressive" investments in its new stores but it is "evaluating" the next step in its strategy.
The company had been reported to be considering bidding for Comet Group.
The company closed all of its UK stores on 14 January 2012, due to poor financial results.
Read more about this topic: Best Buy Europe
Famous quotes containing the word stores:
“When their stores are full, idiots are considered wise.”
—Punjabi proverb, trans. by Gurinder Singh Mann.