The Sunday Express reports Best Buy is in discussions over the future of its UK operations, following poor Q2 results from its earnings call last week.
The retailer (in joint venture with Carphone Warehouse) was planning to open up to 200 stores when it first entered the UK in 2010-- a plan now "firmly on ice".
It currently has 11 British outlets in total, which will go through a "strategic review".
Best Buy Q2 2011 earnings drop by -30% Y-o-Y to $177M in the US-- the 5th quarter of consecutive losses.
It attributes such losses to a lack of consumer confidence, especially in CE.
The question thus remains-- will Best Buy cut and run out completely from the UK (if not out of Europe in general, another loss-maker) or bear the recession storm?
