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Best Buy to open 10-15 stores in China in 2010

12/4/2009

Shanghai Best Buy Co. said Friday it plans to open 10 to 15 stores in China next year because of the country's robust sales growth.

Best Buy also said it plans to open its first store in Europe in March or April and three more in the fall, according to Robert A. Willett, the retailer’s international CEO.

Best Buy has eight stores under its own brand and 167 stores under the Five Star brand in China. It acquired the remaining 25% stake in China's Jiangsu Five Star Appliance Co. earlier this year.

Best Buy will open new stores in China under both brands in 2010, said Willett, who plans to retire at the end of this year.

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