12:03
societynews[dot] org
NEW YORK (Reuters) – U.S. electronics retailer Best Buy Co (BBY.N) is talks with shareholders about the future of its stores in Britain, the Sunday Express reported.
Best Buy, which has 11 outlets in Britain through a joint venture with Carphone Warehouse, is undertaking a strategic review of its operations, the report said.
The company did not immediately respond to a request seeking a comment.
When Best Buy first entered Britain in 2010, it intended to expand to open up to 200 stores, but that plan is now on hold, according to the report.
The company last week reported weaker-than-expected quarterly results and cut its profit outlook for the year as shoppers held off on buying televisions and other nonessential items in the anemic U.S. economy.
Best Buy shares closed at $25.43 in Friday.
(Reporting by Nick Zieminski and Dhanya Skariachan, editing by Maureen Bavdek)
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