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January 31, 2013
Renew Blue Focus towards enhanced customer experience through modernized multi-channel approach
(Burnaby, BC) January 31, 2013 – Best Buy Canada today launched the first phase of a long-term transformational strategy to optimize the company’s retail footprint across the country. As part of this transformational plan, Best Buy will permanently close 8 Future Shop and 7 Best Buy Big Box stores today in select markets nationwide.
Over the next 36 months, Best Buy will move into the second phase of the “Renew Blue” strategy and plans to open state-of-the-art new Future Shop Small-Concept web stores and new Best Buy Mobile locations across Canada, where and when appropriate. This move will enable the company to better serve its customers in both more locations and smaller markets across the country. The move was based on an extensive review of Best Buy’s retail footprint in Canada in an effort to reduce unnecessary costs, eliminate redundant operating systems and to optimize its real estate strategy to reflect a more a changing retail landscape.
Employees affected by the Best Buy and Future Shop store closures will receive severance support as well as access to employee assistance programs and career transition support. Hiring priority will also be offered to previous employees across the country affected by today’s announcement.
Best Buy has established a webpage and toll-free number for consumer questions related to the closures including additional questions about their purchases or services. Best Buy Canada continues to operate more than 120 Best Buy and Best Buy Mobile locations combined with over 140 Future Shop stores across the country.
Consumers can go to www.bestbuy.ca or www.futureshop.ca or call toll-free 1-800-237-8289 (Best Buy) or 1-800-663-2275 (Future Shop) for more information.
The following stores are immediately closing as a result of the current real-estate optimization plan:
For more information about Best Buy and Future Shop, including store locations, visit www.BestBuy.ca
About Best Buy Canada
Best Buy and Future Shop stores in Canada are a division of Burnaby, BC-based Best Buy Canada Ltd., a wholly owned subsidiary of Best Buy Co., Inc. (NYSE:BBY). We are Canada's fastest-growing retailers and e-tailers of consumer electronics, computers and entertainment products. With over 120 Best Buy and Best Buy Mobile and 140 Future Shop stores across Canada, we offer a unique shopping experience with the latest technology and entertainment products, at the right price. For information about Best Buy Canada, visit www.BestBuy.ca
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