Best Buy UK

Infobox_Company
company_name=Best Buy Co UK.
company_logo=
company_type=Subsidiary
company_slogan=You, Happier.
foundation=2007
location=
key_people=Richard M. Schulze, Founder & Chairman
Brad Anderson, CEO & Vice Chairman
Brian J. Dunn, COO
num_employees=
industry=Retailing
products=Retailing-Electronics
revenue=profit $40 billion USD (FY2008)
homepage= [http://www.bestbuy.com/ http://www.bestbuy.com] Best Buy UK was formed with the recent 50% acquisition of UK-based mobile phone operation Carphone Warehouse's retail division, Best Buy announced that it would open branded superstores in the UK and other European countries.cite web |url=http://news.bbc.co.uk/1/hi/business/7389291.stm |title= Carphone in £1.1bn US partnership |accessdate=2008-05-28 |publisher=BBC |date=2008-05-08 ]

Best Buy will first open stores in the UK beginning 2009, with plans for up to 200 stores eventually, it is also considering purchasing UK rivals Kesa Electricals (owner of Comet), DSG International (owner of Currys), or both. [cite web |url=http://www.forbes.com/markets/feeds/afx/2008/05/11/afx4994500.html |title=Best Buy may make offers for DSG International, Kesa - report |accessdate=2008-05-28 |last=Waller |first=Philip |publisher=Thomson Financial |date=2008-05-11 ] It is unknown whether these stores will rebrand if acquired by Best Buy. Though the UK Government may not allow this as it would give Best Buy an unffair advantage in the UK market, should it buy both.

History

Best Buy Co., Inc. is a Fortune 100 company and the largest specialty retailer of consumer electronics in the United States and Canada, accounting for 21% of the market.Boyle, Matthew. " [http://money.cnn.com/magazines/fortune/fortune_archive/2006/04/03/8373034/ Best Buy's Giant Gamble] ." "CNN." March 29, 2006. Retrieved on November 28, 2006.] The company's subsidiaries include Geek Squad, Magnolia Audio Video, Pacific Sales, and, in Canada the Best Buy Canada subsidiary operates most stores under the Future Shop label. Together these operate more than 1,150 stores in the United States, Puerto Rico, Canada, China, Mexico and Turkey. [Chris Serres " [http://www.startribune.com/535/story/991027.html Adaptation is key for Best Buy] " "Star Tribune." February 08, 2007. Retrieved on February 16, 2007.] The company's corporate headquarters are located in Richfield, Minnesota, USA (near Minneapolis). On June 26, 2007, Best Buy announced a 40% increase in its operations, with plans to operate more than 1,800 stores worldwide, including 1,400 Best Buy stores in the U.S.

The Carphone Warehouse was co-founded in 1989, when most portable phones were too bulky to carry and called car phones, by current CEO Charles Dunstone (together with David Ross [cite web
title = David Ross appointed to board of the National Portrait Gallery
publisher = 10 Downing Street
date = 17 February 2006
url = http://www.pm.gov.uk/output/page9080.asp
accessdate = 2006-11-02 ] ) from £6,000 savings.

UK Stores

Best Buy has revealed the first 4 UK locations which will be in Slough, Staines, Enfield and Thurrock; 20 locations are planned for 2009 which will all be big box format, however the company is looking for a flagship store in Central London in a prominent area such as Piccadilly Circus, Oxford Street or Regent Street. [cite web|url=http://www.pocket-lint.co.uk/news/news.phtml/16288/17312/best-buy-uk-locations-revealed.phtml|title=UK Best Buy store locations revealed|author=Amy-Mae Elliott|publisher=pocket-lint.co.uk|date=2008-07-21] [cite web|url=http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=447620&in_page_id=3&position=moretopstories|title=Best Buy aims to shine in UK|author=Robert Lea|publisher=thisismoney.co.uk|date=2008-07-18] [cite web|url=http://www.pcretailmag.com/news/30216/First-Best-Buy-stores-unveiled|title=First Best Buy stores unveiled|author=Ben Furfie|publisher=PCRetail|date=2008-07-21]