Best Buy considers reopening a store under the Best Buy banner in Shanghai, China, the Star Tribune reports-- even if it closed all nine Chinese branded stores last February.

Back in February Best Buy did say it "might" reopen 2 stores on a later date.

Then again, Best Buy has a successful business in China with Five Star, a major retailer in the territory.

CEO Brian Dunn says the retailer has a strategy of "driving businesses that have earned the right to additional capital while curtailing Continue reading...

Blockbuster hits back at Netflix as it announces Blockbuster Movie Pass, a DVD-by-mail and video streaming service in collaboration satellite TV provider Dish Network.

Dish Network saved Blockbuster out of bankruptcy court for $234M 5 months ago.

The timing for the Blockbuster comeback is perfect-- Netflix currently flouders due to the unpopular change in pricing structures (increasing prices by 60%) before dividing into 2 separate businesses, with "Qwikster" handling DVD-by-mail.

Analaysts predict Continue reading...

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 Continue reading...

Kesa Electricals fails to find a buyer for the troubled Comet chain, The Telegraph reports-- meaning Kesa will continue "to examine other strategic alternatives" while trying to implement turnaround plans.

Turnaround specialists showing interest in Comet include investment firm OpCapita and Hilco UK.

Derailing the sales process is the "dowry" for potential buyers, large pension liabilities and credit insurers possibly changing terms-- not to mention Comet's current state.

Comet losses for the Continue reading...

Dixons sales for for the 12 weeks ending 23 July 2011 decline by -1% Y-o-Y, while sales are down by -7%, following its Q1 trading statement.

The retailer says such performance "was in line" with expectations, particularly in comparison to the strong 2010 sales from the World Cup and the iPad launch.

Dixons' UK operations are performing "in line of expectations" (with total growth declining by -9%) as the KNOWHOW customer care service is now operating in the UK and Ireland.

It does see growth Continue reading...

Czech finance group PPF buys out all of Russian retailer Eldorado for an undisclosed price tag Russian paper Kommersant says totals $625M.

PPF says Russian competition authorities already approve of the buyout.

According to the Financial Times, Eldorado's sale took months of efforts-- Eldorado co-owner and founder Igor Yakovlev's pulled out of selling for at least 3 times beforehand.

PPF (owner of Eldorado's main consumer credit partners) bought 50% of the Russian retailer back in October 200 Continue reading...

Dutch retailer Free Record Shop reports its return to profits worth €2.2M in 2010, following its 2009 losses.

Free Record Shop's 2009 ended with -€1.2M in losses.

The retailer attributes this success to closing its vanLeest head office (before consolidating it with their HQ operations), as well as its move towards lower margin products (primarily games software and hardware).

Despite falling sales, it still reports profits growing by nearly 5% Y-o-Y.

Free Record Shop's Belgium outles see "significant" Continue reading...

French retailers Fnac and Lagardère Services announce a "strategic partnership" with a network of new small stores in France and Spain.

The stores-- measuring less than 350 m²-- will appear in train stations and airports around the 2 countries.

While Lagardère Services operate the stores (with its travel retail know-how) Fnac will provide branding, as well as its products and service offerings.

Fnac describes the move as a "venture into new horizons", seeing how travel retail is a new market Continue reading...