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Consumer electronics store Best Buy announced it will close some stores across the U.S. and conduct layoffs due to declining sales.
Best Buy plans to close 10-15 stores by 2025, the company announced on its Feb. 29 quarterly earnings call.
Electronics retail giant Best Buy has closed stores in its network every year since 2012 as it responds to "customer and demographic shifts."
On March 28, 2015, Best Buy Canada announced that Future Shop would cease business effective immediately. 66 locations were permanently closed, and the remaining 65 locations were soft launched as Best Buy locations on April 4, 2015 (although still carrying Future Shop signage for the time being). In the months that followed, the locations were ...
A closeout or clearance sale (closing down sale in the United Kingdom) is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire (a fire sale), over-ordering, or especially because of bankruptcy.
On March 1, 2018, the company announced that it would shut down its 250 standalone Best Buy Mobile stores in the United States by the end of May, due to low revenue and high costs. The Best Buy Mobile stores were reported to account for 1% of the company's revenue.
Best Buy is closing its store in Apple Valley, one of 15 to 20 stores the electronics giant is planning to close in the U.S. this year. Its last day of business will be March 2.
On February 10, 2010, Blockbuster announced that it would cease all its operations in Portugal, closing down 17 outlets and leaving over 100 workers unemployed. Blockbuster representatives in Portugal blamed internet piracy and the lack of government response to it as the key factors to the company's failure in the country.
Best Buy says it plans to close 10 to 15 stores over the next year. See where it has stores in Iowa.
On January 14, 2021, it was announced that Best Buy would be closing as part of a plan to close 5 stores nationwide. The store closed on February 27, 2021. On April 1, 2021, it was announced that Best Buy would reopen as Best Buy Outlet in May 2021.