This is the interesting thing to me....if each day of the week represents 14% of a week....I bet they do about 50% of their sales on Saturdays and Sundays....why they would shut down on a Saturday morning instead of waiting until Monday .....I don't know.
I have seen big box strip-malls that had both Target and Future Shop as it's main anchors, now with both gone this could really hurt the smaller retail chains. It's been a really really bad year for Canadian retail.
Big stores are usually the ones that draw to people to malls. They then shop at the smaller stores. Bye big tenant bye small stores.
Not sure how losing two massive competitors is bad for the smaller retail chains? Less competition for, both, space and customers seems good news to me.
On a local level, 10 Dundas East just became even more of a white elephant, with no anchor to draw people there at all anymore. I remember when it first opened how the growing demand for technology meant that electronics stores -- once small, niche market stores -- were now anchors for malls. Ironically, the big box electronics shop has gone from being champion of technology to a victim of technology: it's obsolete.
In a press release, the company said it had reviewed its real estate footprint “to address the fact that a significant number of its Future Shop and Best Buy stores are located adjacent to each other, often in the same parking lot.”
On a local level, 10 Dundas East just became even more of a white elephant, with no anchor to draw people there at all anymore.
Approximately 500 full-time and 1,000 part-time positions as 66 stores close and 65 are converted to Best Buys.