Best Buy isn't pulling out of Canada completely, like its fellow Minneapolis-based competitor Target recently did. But Best Buy has announced that it will close 66 of its "Future Shop" locations in Canada, and will convert the remaining locations to Best Buy stores.
The consolidation will leave the company with 136 large-format stores and 56 Best Buy Mobile stores north of the border. The closings will result in the laying off of 500 full-time and 1,000 part-time employees.
The company said that many of the closings will take place at locations which are very close to existing Best Buy stores.