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Best Buy Outlines Expansion Plans
Feb 21, 2007
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Best Buy Co., Inc. plans to open about 130 new stores in the U.S., Canada and China during its 2008 fiscal year, which begins on March 4, 2007. The company said it expects its total global retail square footage to grow 10 percent to approximately 46 million square feet by the end of fiscal 2008, as compared with the expected square footage at the end of fiscal 2007.

Best Buy's fiscal 2008 plan includes the addition of approximately 35 new stores internationally, including 12 to 14 stores in Canada - expected to be equally split between its Best Buy and Future Shop brands.

In China, the company plans to add 20 to 23 new Five Star stores during fiscal 2008 and plans to open two to three additional Best Buy locations in China in the next 12 to 18 months.

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