Best Buy Europe is looking at opening smaller stores in the UK, according to analysts.
The move would see the retail giant taking its low cost goods to the high street and going head to head with its joint venture partner Carphone Warehouse.
Best Buy remained non-committal this week. However, Carphone executives told analysts after the company¹s interim results earlier this month that smaller shops are part of its plans.
Sam Hart, retail analyst at Charles Stanley, said: ‘It doesn’t come as a particular surprise. I would expect to see them target smaller format stores in areas of high footfall, such as outside stations in London, in order to display part of their range. It is a proven format used by Carphone Warehouse.’
Neil Mawston, telecoms analyst at Strategy Analytics said: ‘It was always a given that Best Buy would eventually move into smaller stores. It won’t cannibalise Carphone Warehouse’s territory. They will work out a strategy to target competitors high street trade, like Dixon and Currys.’
A Best Buy spokeswoman said: ‘There are no changes to our current plans. We have been very clear from the outset of our joint venture in the UK that we have a strong structural advantage from being able to leverage our multi-channel platform.
She added: ‘It’s no surprise that people will speculate about Best Buy UK. Any updates and news about the business will come from Best Buy Europe and not any individual shareholders or analysts.’