Best Buys and Carphone Warehouse buy up Europe
Carphone Warehouse and its American partner Best Buys get ready to announce that they will be opening 100 new UK shops and that they are about to embark on the electrical markets in Europe.
Best Buys US stores are roughly around 30,000 square foot in size and will set a president for the new supersize Carphone Warehouse stores allowing consumers to be able to buy everything from mobile handsets to computer technology to broadband to audio visual equipment, you will also be able to get technical support like you can in the US Best Buy stores.
Carphone Warehouse sold 50 percent of its retail business to Best Buys in May for Â£1.1 billion, this partnership is allowing them to expand into Europe. The strategy announcement will come as the phone retailing giant deals with the slide in trading figures as it fights the slowdown in consumer spending. The strategy announcement will come alongside what is likely to be a downbeat trading update from the phone retail giant as it battles with the slowdown in consumer spending.
Previously the group announced an expected growth in fixed-line telecoms of 4 to 5 percent but in July it said its revenue at its fixed-line UK telecoms business would be broadly flat. The group also cut its full-year for new broadband customers from 400,000 to between 200,000 and 250,000 due to the credit crunch and the affect on what the consumers are spending.