Best Buy lines up retail store expansion

SHANGHAI: Best Buy, the largest US electronics retailer, said on Friday that it plans to open seven to 12 new stores in China this year, including the sixth outlet to be opened next month in the city's Minhang district.

The expansion plan also includes its wholly-owned Jiangsu Five Star Appliance stores. "We will open several hundreds of Five Star outlets between the next five to 10 years," said Bob Willett, chief executive officer, Best Buy International.

Willet said the Five Star expansion plan has been fast tracked after it purchased the balance 25 percent stake for about $185 million in February.