Best Buy to Close 50 U.S. Big Box Stores by Year’s End

Best Buy to Close 50 U.S. Big Box Stores by Year’s End

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Richfield, MN—Best Buy plans to close 50 U.S. stores as part of a number of key initiatives for 2012. To date, they have closed two stores this year (one in Kansas City, Missouri, and one in Scottsdale, Arizona) and notified five Twin Cities stores and one San Antonio store that they will close later this year. Employees of all 50 stores schedule to be closed were notified on April 14, and the company expects most of the stores will be closed by May 12.

“This was not an easy decision to make. We chose these stores carefully, and are working to ensure the impact to our employees will be as minimal as possible, while serving all customers in a convenient and satisfying way,” the company noted in a statement. “But we also recognize the impact this news has on the people who deserve respect for the contributions they have made to our business. We will be working to help these employees find other positions inside Best Buy. If they don’t find new positions, or if they choose not to work at a different location, a transition including severance packages will be available.”

Best Buy will continue to have retail store locations—big boxes and stand-alone Best Buy Mobile stores—for customers to choose from in the affected locations.

The company added that the “announced retail store actions are intended to increase points of presence, while decreasing overall square footage, for increased flexibility—including key store remodels with a new Connected Store format, while continuing to build out the successful Best Buy Mobile small-format stores throughout the U.S. We will continue to share details of such actions as the year progresses. We are committed to making it easier for customers to shop with us, whenever and wherever they want.”

For a listing of store locations scheduled for closure, visit: http://pr.bby.com/phoenix.zhtml?c=244152&p=irol-newsArticle&ID=1683036&highlight=.

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