Future Shop, 1982 - 2015

News broke this morning that all Future Shop stores have been shuttered, effective immediately. 66 are gone for good while 65 will be turned into Best Buy outlets.

The end result will be the loss of 500 full-time and 1,000 part-time jobs. What irks me is the complete lack of notice. Employees learned Future Shop was closing via Twitter, essentially, or when they showed up for work this morning and found the doors locked. A little notice would have been nice.

future-shop

When Best Buy acquired Future Shop back in 2001, I wondered why they were keeping both brands and running them as separate entities. Often there would be a Future Shop nearby a Best Buy and it seemed as if they were cannibalizing each other. Today's announcement doesn't surprise me in the least.

I just feel bad for those who just learned their jobs have disappeared.


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Comments (17 - click here to join in!)

Jason from Sudbury

Wow...didn't see this coming. Sucks for those who lost their jobs.

March 28, 2015 @ 11:50 AM

Rick C in Oakville

You think with a 14 year time span since they were bought out, there would be a compassionate wind down if so.
I'm starting to become more of a red Tory every time i hear of a corporate takeover ie. Tim Hortons, now Kraft and Heinz, as all these lead to are large job losses, and I suspect if the companies were still their own entities, would continue to conduct business.
The only thing that saved a few jobs down in Leamington when Heinz closed up the tomato processing plant, was some regulation requiring tomato juice (or something to that effect) had to be processed where it was picked, otherwise it would have all been south of the border.
Concentration of ownership and limited competition we all know doesn't work in the consumers interest.

March 28, 2015 @ 12:22 PM

Tim

I always hated future shop. High pressure salespeople or arrogant ones who looked down there noses at you if you asked a question beneath them. That being said losing your job sucks.

March 28, 2015 @ 6:48 PM

Dawn Keibals

@ Tim..Agreed,went less and less to Future shop in recent years specifically because of the arrogant know it all salespeople whom talked down to customers.
Geeze i had always thought their JOB was to know more about the PRODUCT than customers.
Hate to see people loose their jobs and good luck to former Future shop staff if they use that arrogant attitude when they are applying for another job.As of today the former employees don't seem to be so elite anymore.

March 28, 2015 @ 7:32 PM

Handsome Rob

The only real surprising part in all of this was the manner in which they closed the stores. Waiting until the 7am staff show up to tell them, then lock the doors. I read today that some later shift employees only found out when they were greeted by locked doors and security guards when they arrived for their shift. This from the largest electronic retailer in Canada, maybe North America....WOW

Overall though, as BBhas said, many stores shared the same big box complex, and their weekly flyers were almost identical. It never made much sense to me how they would price guarantee against each other. So you could price match and get an additional 5% off if was in stock at the other store. Their distribution centres were shared if I remember correctly. The eastern Canada regions warehouse is in Brampton, over by 7 and Airport I think.

March 28, 2015 @ 9:02 PM

Rick C in Oakville

Just found out Tiger Direct another computer reseller is closing their stores too, going on line only
Geezus, we will all be working from our basements soon.

March 28, 2015 @ 10:08 PM

Faux Che

Capitalist pigs. There I said it. Haven't said that in years.

March 28, 2015 @ 10:15 PM

Cambo

@rick

Tiger direct only had a few brick and mortar stores anyway so that isn't a surprise. I was never really impressed with FS, nor Best Buy. Very little product demos on the floor, and what was there was never working right. In the store near us you could fire a cannon and never hit a customer. The sales people always out numbered customers. Online is the way to go now, except for the fact that you can't really demo products.

March 29, 2015 @ 11:47 AM

Lynne

I hope everybody just bought their extended 4 year warranty ... (sarcasm)

March 29, 2015 @ 1:45 PM

Douglas

I am not surprised that Future Shop is closing. The way they're doing it, though...I'm glad I didn't support their way of doing business. Yes, I know they're owned by BestBuy, who are often described as the showroom for people to go home and buy online, usually from Amazon (.com and .ca). Personally, I preferred Best Buy, not just because the staff were not on commission, which forms part of my professional income. When it comes to computers and related items, though, I much prefer to go to a retailer that is more focused in the sector. Segue...

As for the Tiger Direct rumours, it is true that Tiger Direct is closing physical stores. Their CompUSA ones. At this point in time, Tiger Direct's Canadian stores are doing well and are expected to stay open. There is simply less decent competition in the category in Canada. Tiger Direct's closest competition in southern Ontario and Montréal is Canada Computers, who, interestingly, have recently become Canada Computers and Electronics. Canada Computers is actually opening up some stores in the near future and moving some locations to get more floor space, likely for the "and Electronics" part of the business. It's not all doom and gloom out there, thankfully.

March 29, 2015 @ 1:56 PM

Computer Squad

I guess with the closing of FutureShop and Tiger Direct, Canada Computers will dominate the computer retail in GTA?

March 29, 2015 @ 3:54 PM

Rob

The closing makes sense.

The market is evolving and online retail provides a cheaper alternative to almost any product. The number of big box stores was from an era where online shopping was neither readily accessible, common or affordable.

There will always be a need for Best Buys because sometimes people need products right away, need someone to educate them on that product and physically want to see it and test it before purchase. There just isn't the need for a big box store on every corner like a coffee shop with many consumers no requiring the above mentioned reasons.

The sad part is Canadian losing work from what I understand many Future Shop employees were on commission and Best Buy will just be paying around minimum wage with no sales incentives.

March 29, 2015 @ 4:43 PM

Andrew

@ computer squad

Yup... just bought a new MOBO, chipset, liquid cooling, and RAM there today. Going back tomorrow for a new case.
I like the guys at Canada Computers by me in St. Catharines. Friendly, knowledgable and they have stuff in stock.

Amazing...

Cheers,
Andrew

March 29, 2015 @ 8:16 PM

Al The Royal Pain

And yet, near my place, there is still a 2001 Audio/Video store. Who wants to buy 14 year-old technology? ;)

March 30, 2015 @ 8:50 AM

Douglas

@Al the Royal Pain - Thank you for letting me know that I'm not the only one with that train of thought.

March 30, 2015 @ 11:30 AM

Lorne

FutureShop isn't really closing, but just finishing their transition to Best Buy. Some locations will close (too close to a Best Buy, like the Newmarket one already did a while back). Others will convert. All gift cards, warranties, orders and stock will be transferred to Best Buy (though that was true before the shutdown).

That this is happening isn't surprising. It was inevitable the moment Best Buy bought FutureShop. What is surprising is how suddenly it was. Though I would suspect it's been in the works for a long time, just kept secret probably to keep employees from jumping ship-- or more importantly, to keep from making investors nervous (or tipping investors off that they should buy bestbuy stock)

March 30, 2015 @ 4:18 PM

markosaar

@Al The Royal Pain,

Fitting. The last time I was in a 2001 Audio/Video, I bought a MiniDisc player.

March 30, 2015 @ 6:00 PM

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