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Best Buy: 73 New Stores

MINNEAPOLIS-Most of the new stores will be in the U.S., but there's also a push in Canada.

By Dees Stribling | Updated on January 31, 2005

MINNEAPOLIS-In its coming 2006 fiscal year (starting Feb. 27), consumer electronics giant Best Buy Co. Inc. says that it intends to open 73 new stores in North America: 60 in the United States, with the balance in Canada. “We remain committed to growing to 1,000 superstores in North America,” says Brian Dunn, Best Buy’s president of retail-North America.

The expansion in Canada will be especially vigorous in greater Montreal, where the company plans to open seven new stores this year. Currently there are no Best Buy-branded stores in the area or the entire province of Quebec. The new Quebecois stores will be in the store’s mid-sized, or 30,000-sf format.

“Just three years ago, there were no Best Buy stores in Canada and only 95 Future Shop stores,” Dunn says. “At the end of the next fiscal year, we expect to operate 43 Best Buy stores and 116 Future Shop stores in Canada.” Future Shops, which originated in British Columbia, are another brand owned by Best Buy, and are found only in Canada; two new ones will open this year.

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