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Best Buy details U.K. expansion plans


London Best Buy Co. said late Monday that it has targeted opening 60 to 150 big-box stores in the United Kingdom, four days before its first megastore opens its doors in Thurrock, East London.

According to a report by the Wall Street Journal, Best Buy -- via its joint venture with Carphone Warehouse -- also said it will do whatever it takes to succeed as a retailer in the United Kingdom, even if it takes a while for its brand to be recognized.

The company plans to open eight stores by March next year -- each at least 30,000 sq. ft. in size -- and 60 to 150 in the future, Scott Wheway, CEO of Best Buy Europe, told WSJ.

Wheway maintained that the U.K. expansion is following the original timetable and has not been delayed by the recession. "We followed the critical path," he said in the interview. "Investors said they are in for the marathon, not a sprint."

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