Carphone Warehouse to open 100 superstores

 

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By Reuters

Posted on 13 Oct 2008 at 11:36

Carphone Warehouse and US partner Best Buy are set to announce the opening of 100 new UK shops, as they begin their assault on Europe's electrical goods market.

The new stores are expected to be similar in size to Best Buy's 30,000-square-feet outlets in the US, which offer everything from mobile, broadband and computer technology, to audio-visual equipment and technical support.

The Financial Times said in August, without citing sources, that the venture was planning 200 UK stores over the long term.

Best Buy agreed in May to buy 50% of Carphone Warehouse's retail business for £1.1 billion, creating a joint venture in order to expand into Europe.

The strategy announcement will come alongside what is likely to be a downbeat trading update from Carphone Warehouse as it battles a slowdown in consumer spending.

In July, the group cut its full-year forecast for new broadband customers to between 200,000 and 250,000 from 400,000, and said revenue at its UK fixed-line telecoms business would be broadly flat, versus previously expected growth of 4 to 5%, due to a consumer downturn.