Carphone Warehouse has confirmed that it is planning to open the first Best Buy UK stores and launch its website by the end of Spring 2010, as well echoing plans to open between 30 and 40 stores by the end of the year.
Echoing Bob Willett's comments to the Observer on Sunday, the retailer said that plans for the roll out of stores were progressing well, and that it had a firm estimate of how many stores it was planning to roll out.
Speaking to investors, Carphone's chief executive Charles Dunstone said: "Best Buy Europe’s plans to enter the consumer electronics market with Big Box stores are progressing well. We are benefiting from the availability of significantly improved sites at considerably lower rental costs, and we aim to launch the initial stores, coupled with a national web offer, by Spring next year."
Dunstone also hinted that the group believes the worse of the recession is now over, but that the current situation would continue to present problems for the sector. "The macro environment will undoubtedly present challenges in the year ahead but at this stage we are not seeing it deteriorate further.
However, he was keen to stress that the business was in a good position to weather the storm. "We are well funded, and have clear and simple strategies for our two businesses which balance growth with tight operational efficiency and cash generation."
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