US electrical goods giant Best Buy is to create 8,000 jobs in the UK in the next five years.
The company, which is the world's largest consumer electronics retailer, will open its first outlets in Thurrock and Southampton in the spring.
The news comes as supermarket Tesco said it was recruiting another 1,000 staff to its banking division.
The move by Best Buy represents a major assault on the UK high street.
Sky News City editor Mark Kleinman said: "This will be their way of taking on the giants of the high street here - the likes of Comet and Currys.
"Best Buy has a joint venture with Carphone Warehouse and it will be opening about 70 stores over the next few years to take those competitors head-on."
Meanwhile Tesco Bank is creating new jobs in Newcastle, following a decision to establish a customer service centre in the city.
Recruitment will start early next year, with the first 500 roles to be created by the end of 2010.
The new staff will be engaged in home and motor insurance sales and customer service, and stem from Tesco Bank's insurance partnership with Fortis UK, announced in June.
Tesco Bank chief executive Benny Higgins said: "I'm delighted to be announcing more jobs as we push ahead with our exciting plans to build the Tesco Bank.
"The North East of England has strong experience in customer services and the financial sector, with a well-qualified and enthusiastic workforce."
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