Best Buy to shutter 15 stores in Canada, cut workforce


Best Buy Co. Inc. said it will close 15 of its big-box stores in Canada and lay off roughly 900 workers to "optimize the company’s retail footprint," the National Post reports. The newspaper says the move represents about 10 percent of the retailer’s square footage in the world's second-largest country.

The Richfield, Minn.-based consumer electronics giant will close eight of its Future Shop stores and seven Best Buy stores, according to a news release. Best Buy plans to open an undisclosed number of its smaller-concept web stores and mobile locations in Canada over the next three years.

"The move was based on an extensive review of Best Buy's retail footprint in Canada in an effort to reduce unnecessary costs, eliminate redundant operating systems and optimize its real estate strategy to reflect a changing retail landscape," Best Buy said in a statement, Reuters reports.

Last year, Best Buy closed 50 stores and 100 mobile locations in the U.S., including six big-box stores in Minnesota.

The news comes just weeks before Minneapolis-based Target Corp. is set to open its first stores in Canada.

Next Up

Adam Thielen

Vikings place Adam Thielen on COVID-19/reserve list

Thielen is coming off a two-touchdown game against the Cowboys.

MCF Oak Park Heights

COVID-positive inmate at Oak Park Heights prison dies

He becomes the fourth prison inmate to die from the virus.

Screen Shot 2020-11-23 at 1.08.19 PM

2-ton smoker stolen from Twin Cities chef Thomas Boemer

Boemer is the chef behind restaurants including the popular Revival.

Governor Tim Walz

Walz says relief package is coming for Minnesota small businesses

Walz is prepared to call a special session and pass the package immediately.

Governor Tim Walz

Watch live: Gov. Tim Walz COVID-19 press conference Monday

Walz will be introducing a new app that helps Minnesotans track COVID-19 exposures.