Best Buy readies U.K. launch
London Best Buy Co. will open its first British store in May, the retailer said on Monday, as partner Carphone Warehouse completed its demerger from telecoms arm TalkTalk.
According to a report by Reuters, Best Buy said it would open a 50,000-sq.-ft. megastore in Thurrock, east of London, in May, slightly later than the April date it had previously flagged. That debut will be followed by stores in Southampton, southern England and Merry Hill, central England in June, and then Liverpool in the weeks after that and Croydon, south London, in the autumn.
Best Buy acquired 50% of Carphone Warehouse's retail business in 2008 and originally planned a debut in Britain in the summer of 2009. That was delayed because of the global downturn.
Shares in Carphone Warehouse, Europe's biggest mobile phone retailer, rose on Monday following their demerger from telecoms business TalkTalk.
One analyst said the move was helped by stronger-than-expected results from Best Buy last week, at a time when Carphone's shares were suspended ahead of the demerger.