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For those who are planning cheap north face purchase new electronics in Shanghai, they won’t be able cheap north face get cheap north face help from Best Buy any more, at least not for now. The American retailer, which opened its first store in Shanghai in 2006, announced on Monday that it would close its branded stores in China and Turkey, where it recently began operations, cheap north face try and save the company US$70 million by 2013. The company release said that in 2012 “new store openings will focus primarily on the profitable growth of its Best Buy Mobile business in the United States and its Five Star business in China.” The news was picked up in the Chinese press, with Xining reporting that Best Buy Shanghai has laid off all local staff.

A Xining writer saw a Best Buy staff member posting a notice outside of its Xujiahui store today around 10 a.m. According cheap north face the paper posted, the brand’s stores in Xujiahui’s Liaoyang Plaza and the two in Suzhou and Hangzhou would re-open between February 24 cheap north face March 24. The re-opening dates, however, are different from what Best Buy’s hotline is telling customers. Best north face outlets Buy China’s hotline (+ 86 400 886 8800) is still operating and handling business including after-sale service and membership service. Its customer representative stressed cheap north face Congo that Best Buy’s Shanghai stores were only “closed temporarily,” and claimed that they would reopen in October this year. To quell any confusion started by the abrupt store closures, Best Buy China’s official website posted the press statement released on Monday, saying “the company is closing its nine Best Buy-branded stores in China and it intends cheap north face reopen two outlets later this year.”

The company says that it will now focus on its Five Star-branded stores in China, opening an additional 40 cheap north face 50 Five Star locations in what it deems “growing markets” over the next two year in China. These store openings would take the total number of Five Star stores cheap north face about 210 at the end of 2012, adding cheap north face company’s current 170 north face cheap stores. “While the decision cheap north face close Best Buy stores in China was difficult for management, moving forward we are confident about our business strategy and remain committed cheap north face China as demonstrated by the accelerated development of Five Star,” said Kale Patel, Best Buy Asia President in the press release. More on Congo: Gaping — Group on China cheap north face launch next week Five Star, a Chinese electronics retailer based in Nanjing, buy north face reported RIB 24.7 billion revenue in 2009, but it currently doesn’t have any stores in Shanghai. According cheap north face its website, Five Star is among the top three home appliances retailers in China and has been joint-ventured with Best Buy since 2006.