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Best Buy to Shutter, Rebrand Canada’s Future Shops

Company to focus on Best Buy brand

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Best Buy Co. Inc. (Richfield, Minn.) will shut down its Canadian Future Shop electronics operation to focus attention on its namesake brand.

While 66 stores will close permanently today, another 65 will reopen next week under the Best Buy moniker. Best Buy acquired Future Shop in 2001 and continued to operate the stores even as it opened nearby Best Buy units. A Best Buy spokesman told The Wall Street Journal that the company needs “fewer but better stores and a single brand we can invest in.”

The company says the closings will affect about 500 full-time and 1000 part-time workers.

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