Best Buy Canada also said it has reviewed its real estate footprint because a significant number of Future Shop and Best Buy stores are located adjacent to each other, often in the same parking lot. The result of this review is the closure of 66 Future Shop locations, effective immediately. Concurrently, an additional 65 Future Shop stores will be temporarily closed for one week as they begin their transition to the Best Buy brand. The company will now have a total of 192 locations across Canada, including 136 large-format stores and 56 Best Buy Mobile stores.

Approximately 500 full-time and 1,000 part-time positions will be eliminated. The affected employees will receive severance, employee assistance and outplacement support.

The retailer plans to expand in-store pick-up areas for online customers and launch a ship-from-store program, making in-store inventory available to online customers across the country.

Source: Best Buy Canada