Best Buy Closing 50 Stores, Laying Off 400 Employees

[Arkadin]

http://finance.yahoo.com/news/best-b...120457157.html
http://www.google.com/hostednews/ap/...cabefd01ce3e7c
gonna hurt bd sales for sure.
BB shifting it's focus to mobile. wow.
I'm not some massive BB fan, but I do enjoy having an actual store to go to, and overall I hate to see this happen. It's been terribly sad watching all the types of stores I enjoyed going just slowly disappear over the past 10 years. Pretty soon there really I really won't have anywhere else left to go except the grocery store and maybe the drug store every now and then. I love amazon, but just hate that these "real" stores don't seem to be able to survive anymore.

[jiggawhat]

I love the idiot in the other forum. Everyone! Best Buy is clearly closing stores because Blu-ray is the only thing they sell. LOL.

They don't sell appliances, video games, cell phones, computers, iPods, digital cameras, musical instruments, no... they only sell Blu-ray and this is why they had to close their stores.

I mean you are as bad as the MPH girl.

[Kosty]

50 larger stores out of 1000. That's 5%. That's leaving 95%.

Most of those will probably be older under performing stores that were duplicate stores in the same urban or suburban markets.

The Minneapolis-based consumer electronics retailer said it would shutter 50 big box stores in the current (2013) fiscal year as it plans to cut $800 million in costs through 2015, including $250 million this year. It plans to open 100 smaller footprint Best Buy Mobile stand alone stores during the same period.

Best Buy ended 2011 operating more than 1,000 stores in the United States. It plans to operate 600 to 800 Mobile stores in the coming years, up from 305 stores today.

[h0mi]

This is hardly good news but I think equating best buy to circuit city is a bit premature especially with the plans to expand the BB foot print.

[Reverend Blu]

Target and Walmart are siphoning customers away from Best Buy.
Its funny how Best Buy with larger size stores took customers away from Circuit City.

[Arkadin]

now the CEO has resigned--
http://marketday.msnbc.msn.com/_news...struggles?lite