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FutureShop- All Stores Closed Immediately
#1
http://www.theglobeandmail.com/report-on...e23677084/

Effective immediately.   Some will be re-branded Best Buy.    

Another one bites the dust. 
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#2
(03-28-2015, 10:36 AM)rickhd Wrote: http://www.theglobeandmail.com/report-on...e23677084/

Effective immediately.   Some will be re-branded Best Buy.    

Another one bites the dust. 

A bit misleading. They're not biting the dust. They're consolidating. Only about half of existing FS stores are closing permanently. Presumably these are mostly the ones that are near existing BB stores. That never made a lot of sense since the inventory and prices were essentially identical.

But for the other half it will soon be business as usual under a blue and yellow banner instead of a red and white one.

See also: http://www.futureshop.ca/ 
Quote:What’s happening?


Best Buy and Future Shop are consolidating as Best Buy. This means all of the products, services and features you have come to expect from Future Shop and FutureShop.ca will now be available at Best Buy and BestBuy.ca.

Many of our Future Shop stores will be renovated and rebranded as Best Buy stores. These stores will be temporarily closed until April 4th. Some Future Shop stores that are located in close proximity to an existing Best Buy store will be permanently closed as of March 28th. Visit our store locator at BestBuy.ca for details on the stores nearest you.
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#3
We've all basically known this was coming one day, ever since the merger.

Finally, the madness will end:

   
(Merivale Rd, nepean)
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#4
I hope the Waterloo location remains. It was convenient.
_____________________________________
I used to be the mayor of sim city. I know what I am talking about.
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#5
(03-28-2015, 12:42 PM)Drake Wrote: I hope the Waterloo location remains. It was convenient.

570news reports that the Waterloo location will be re-branded.
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#6
They are only getting rid of the Future Shops which are located close to a Best Buy which makes sense. It's just sad to see another 1,500 people jobless.
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#7
Thank you Panamaniac. As usual you are on top of things. I nominate you our chief intelligence gatherer/rumour spy/ etc
_____________________________________
I used to be the mayor of sim city. I know what I am talking about.
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#8
(03-28-2015, 02:51 PM)Drake Wrote: Thank you Panamaniac. As usual you are on top of things. I nominate you our chief intelligence gatherer/rumour spy/ etc

I'm especially fond of rumours, but I try to restrain myself! 
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#9
Sunrise is not reopening, it definitely wasn't right beside another location.
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#10
(03-28-2015, 03:33 PM)neonjoe Wrote: Sunrise is not reopening, it definitely wasn't right beside another location.

That one always seemed lost in the middle of the Sunrise Centre, to me.   I went in a few times, but never had a sense of how busy it was. 
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#11
(03-28-2015, 03:33 PM)neonjoe Wrote: Sunrise is not reopening, it definitely wasn't right beside another location.

There's nothing in Best Buy's media release that says they're only closing adjacent locations. They're "consolidating the Future Shop and Best Buy stores and websites under the Best Buy brand." As I said before, presumably that means focusing on nearby locations where the benefit of the second store is questionable and the benefit of closing one of the stores is easy to see. But that doesn't mean that unprofitable single stores in municipalities where there are other FS or BB stores a short drive away won't also be shut down.

Something had to give. Increasingly consumers are using big box stores as showrooms to look at and compare products like TVs, cameras and phones. Then they order online from the lowest priced vendor such as Amazon who is able to compete on price because they don't have the overheads of bricks and mortar stores. Best Buy will either adapt to this reality or die. 

It's not all necessarily bad news. They have some potential advantages over online only stores like Amazon. If they can convince people to come to the store to pick up their purchase they can save on the considerable costs of shipping large items like TVs that an Amazon usually bundles into the purchase price. The can also offer same or next day delivery more cheaply than an Amazon. And of course they can do exchanges and replacements more cheaply. IMO the $64 million question is can they charge enough of a premium for these advantages to remain viable?
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#12
Watching an interview with an "expert" on the news. He said the trend is away from brick and mortar stores to online shopping. Based on his opinion it was expected and will continue in the retail market.

The only problem with that is the loss of retail sector jobs. Retail employs so many people so where do those people find jobs? What's left for the unskilled in the workplace. A life of welfare until you turn 67?
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#13
(03-29-2015, 09:57 AM)rickhd Wrote: Watching an interview with an "expert" on the news.   He said the trend is away from brick and mortar stores to online shopping.   Based on his opinion it was expected and will continue in the retail market.    

The only problem with that is the loss of retail sector jobs.   Retail employs so many people so where do those people find jobs?    What's left for the unskilled in the workplace.   A life of welfare until you turn 67?

The concept is called Basic Income, and the Liberals, Greens, and others are already advocating for it.
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#14
(03-29-2015, 10:07 AM)Osiris Wrote:
(03-29-2015, 09:57 AM)rickhd Wrote: Watching an interview with an "expert" on the news.   He said the trend is away from brick and mortar stores to online shopping.   Based on his opinion it was expected and will continue in the retail market.    

The only problem with that is the loss of retail sector jobs.   Retail employs so many people so where do those people find jobs?    What's left for the unskilled in the workplace.   A life of welfare until you turn 67?

The concept is called Basic Income, and the Liberals, Greens, and others are already advocating for it.

Obligatory Humans Need Not Apply video to put the technological unemployment crisis into perspective.  Basic Income will support people during this transition period and has support across ideological lines, but greater awareness is needed for it to become a political reality here.  Several european countries are having this discussion now such as Finland where it has 70% popular support.
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#15
"Smart"Centres Cambridge had Future Shop, Staples, and Best Buy almost in a contiguous line. Could never last.
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