BEST BUY’S UK PROGRESS
BEST BUY – THE STORY SO FAR
US RETAIL giant Best Buy announced in May 2008 it was entering the UK after taking a stake in mobile phone firm Carphone Warehouse. Following several delays,
the firm’s first UK store arrived in Thurrock, Essex in April 2010. The plan was to open between eight and ten
www.mcvuk.com
stores across the UK during its first year. However, the company’s plans had been spoilt slightly by Dixons, who had prepared for Best Buy’s arrival by launching its newly designed PC World and Currys megastores right next to future Best Buy sites.
7
The number of Best Buy stores in the UK, excluding the website
In November, Best Buy said the UK arm had made a six- month loss of £29m, with the figure likely to rise to £55m by the end of the fiscal year. And then in February 2011, European CEO Scott Wheway, marketing director Kevin Styles and commercial director Harry Parmar all stepped down.
The firm admitted the UK launch had gone slowly. But with seven shops and one website up and running by the end of April 2011, the firm met its promises of having eight outlets in its first year. A tough beginning but at least the retailer has a foot in the door of the UK market.
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