Best Buy has announced that it's shutting down the Future Shop brand across Canada and consolidating some of the stores into the Best Buy brand.
Best Buy Canada also announced today it has reviewed its real estate footprint to address the fact that a significant number of its Future Shop and Best Buy stores are located adjacent to each other, often in the same parking lot. The result of this review is the closure of 66 Future Shop locations, effective today. Concurrently, an additional 65 Future Shop stores will be temporarily closed for one week as they begin their transition to the Best Buy brand. The company will now have a total of 192 locations across Canada, including 136 large-format stores and 56 Best Buy Mobile stores.
“Currently, 80 per cent of our customers are within a 15 minute drive to a store and this won’t change,” said Ron Wilson, President and COO of Best Buy Canada. “We will continue to have a strong store presence in all major markets in Canada.”
As a result of this consolidation, approximately 500 full-time and 1,000 part-time positions will be eliminated. The affected employees will receive severance, employee assistance and outplacement support.
“Any decisions that impact our people are never taken lightly; our first priority is to support them through this change,” Wilson said. “I want to express my appreciation to the employees who are leaving, for their contributions to Best Buy Canada.”
All Future Shop gift cards will be accepted at any Best Buy Canada location and at BestBuy.ca. Existing product orders, service appointments and warranties will continue to be honoured and Future Shop purchases to be returned or exchanged will also be accepted at any Best Buy. Customers who visit FutureShop.ca will be guided to BestBuy.ca.
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Best buy bought future shop 14 years ago and this should have been done 14 years ago. Most future shops were in the same shopping centres as best buy, minutes walking distance apart. Considering their prices and sales were almost identical this really made no sense. Not surprised it happens just surprised it took so long.
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Ren, just because you haven't seen anything in your short young life, doesn't mean that it hasn't happened many many times before, and will happen many many times in the future.
Dude, just because one judges like it's going to happen doesn't mean it would make sense right away. If you also think about it, all I was saying was some tech store that has much to offer doesn't look like it would close so easily compared to mobile stores or those stores where it has most electronics with clothes departments like Sears, target, but by far, best buy offers everything in technology you can think off from home appliances to slim and thin devices. My point is how can something like this close?