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Best Buy Plans Up To 1,000 Mobile Stores

4/19/2010 09:45:10 AM Eastern
New York - Best Buy reiterated its plans to open as many as 1,000 freestanding Mobile stores across the U.S.

Best Buy CEO Brian Dunn told the Financial Times that it will eventually have "a number somewhere between here and 1,000" of the stand-alone stores, which will largely be located in shopping malls.

The company currently operates 77 Best Buy Mobile stores and plans to add between 75 and 100 this year, TWICE previously reported. The chain also operates new mobile departments in each of its flagship stores.

Both were co-developed with Best Buy's British partner Carphone Warehouse.

Chief financial officer Jim Muehlbauer told analysts last month that the freestanding stores are focused on selling "margin-rich" connections for wireless devices, and generate greater margin per square foot than Best Buy's big-box stores. Dunn added during the conference call that the 1,500-square-foot shops attract a different customer, notably women, so that "the vast majority" of Mobile sales are incremental and do not cannibalize the company's flagship locations.

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