The US consumer electronics chain is converting 65 of 131 Future Shop stores into Best Buy outlets.
As a result of the move, 500 full-time jobs and 1,000 part-time jobs will go, the retailer said.
Future Shop, Canada’s biggest electronics brand, had been owned by Best Buy since 2001.
After the changeover is completed, Best Buy will have 192 Canadian stores.
Best Buy said it would be investing C$200 million ($158 million) in its operations there over the next two years.
There would also be restructuring costs of at least C$200 million, it added.
Analysts say the move will rationalize Best Buy’s offer in Canada and get rid of duplication. Best Buy and Future Shop outlets are often found in close proximity, they say.
eEAlUwmqEpAAt least 158 people have died in Spain's worst flooding disaster in generations. On October…
Google has been fined two undecillion (a two followed by 36 zeroes) roubles by a…
Embarking on a home remodel is an exciting journey, promising enhanced comfort, increased property value,…
The US presidential candidates continued to campaign across key swing states on October 20. Footage…
Elon Musk has said he will give away $1 million a day to a registered…
India and Canada have decided to expel their top envoys along with other diplomats as…