Last year the Carphone Warehouse sold 50 percent of its retail business to Best Buy for some £1.1 billion, as both groups embarked on a joint venture to spread the American retailer’s presence into the UK.
Yet Roger Taylor, the CEO of the JV, has confirmed to Financial Times that the UK store openings have been delayed. “If it makes more commercial sense to open three or four months later, that is what we will do,” he said.
Taylor insisted that the delay was unrelated to current economic challenges the firm is facing. Back in November last year, Best Buy reported lower-than-expected revenues and warned of the challenges that the global economic downturn brings ahead.
“Because of the economic climate [it is] more sensible to wait for better sites,” added Taylor. “The quality of the sites is getting better, not just the locations, but also the economics.”