Best Buy isn’t fully closing, but the nationwide electronics retailer recently announced that its stores will no longer be open to the public. Joining dozens of other retailers, including Apple and.
You should be thinking “Is Your Best Buy store on the closing list?”
(AP) RICHFIELD, Minn. – Best Buy ( BBY) announced over the weekend the locations of 50 stores that it is closing this year, including seven in California, six in Illinois and six in the company’s home state of Minnesota.
It has already closed two stores this year, one in Missouri and one in Arizona. Most of the rest of the 50 will close May 12, others this summer. Best Buy said it would try to find other jobs in the company for the workers.
Best Buy CEO Corie Barry decided to close stores in the early stages of the pandemic. Best Buy is a rare example of a chain that closed down that has managed to succeed .
Best Buy is a major vendor of Apple products, while it also offers repairs for i. Phones and other devices at over 1,000 locations . There’s no timetable given for when Best Buy plans to reopen its stores.
Is best buy going out of business?
The struggling electronics chain said last month that it would close some of its so-called big box stores, cut 400 corporate jobs and trim $800 million in costs. Best Buy plans to open 100 smaller, more profitable Best Buy Mobile stores. The company is trying to avoid the fate of Circuit City, which went out of business in 2009.
A frequent question we ran across in our research was “Is best buy going out of business in 2021?”.
The retailer plans to close two Richmond, Virginia area stores, along with one store each in Syracuse, New York, Carbondale, Illinois, and Brockton, Massachusetts. According to statistics on Best Buy’s website, there are 956 locations in 2021. Down from 977 US store locations in 2020. It also notes that it closed 12 stores after October 31, 2020.
One of the next things we wondered was is best buy’s demand slowing this year?
Best Buy expects demand to slow this year, however. The company also said Thursday that it closed 20 of its big-box stores in each of the past two years and expects to close a higher number this year.
How do I find Best Buy stores near me?
Best Buy Store Locator: Store Hours, Directions & Events Use the Best Buy store locator to find stores in your area. Then, visit each Best Buy store’s page to see store hours, directions, news, events and more. Enjoy a safe, convenient shopping experience.
Use the Best Buy store locator to find stores in your area. Then, visit each Best Buy store’s page to see store hours, directions, news, events and more. Enjoy a safe, convenient shopping experience .
Best Buy has 450 store leases coming up for renewal in the next three years, and Barry said “there will be higher thresholds on renewing leases as we evaluate the role each store plays.” The company has around 1,000 stores in the United States. Best Buy also plans to use more of its in-store space to fulfill home delivery orders.