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Best Buy Plans 13 New Stores for 2010 at Estimated $13M Cost

Alex Finkelstein

Posted by Alex Finkelstein 06/08/09 8:00 AM EST

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(RICHFIELD, MN) -- Sensing a consumer surge in 2010, electronics retailer Best Buy Co. Inc. plans  to open 13 new stores in fiscal 2010. 

The Richfield, MN-based firm didn't disclose the size of the stores or their development cost.  Industry sources, however, tell Real Estate Channel, the stores could average 50,000 square feet constructed at an estimated cost of $200 per sf or about $13 million.

The new outlets would bring the company's total store count to 1,045 in 49 states and Puerto Rico.  The Wyoming store would be the first in that Western state. In Alaska, Best Buy is adding a second store.  All are scheduled to open this summer.

The locations are Briar Creek, NC, June 11; Hammond, LA and Bastrop, TX, both June 12; Park City, UT and North Anchorage, AL, both June 13; Casper, WY, July 10; Hutchinson, MN, July 11; Hunt Valley, MD, Pottstown, PA and Laredo North, TX,  Bronx, NY, Martinsburg, W.VA, all on Aug. 7; Miami Beach, FL, Aug. 8.

Best Buy CEO Brad Anderson reported the company's 2007 net income as $1.38 billion on revenue of  $35.9 billion.



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