Best Buy executives may be giving up on some of their big-box stores, according to a Wall St. Journal report on Thursday.
The Minnesota-based electronics chain said it would close 50 Best Buy stores. At this time, however, the list of stores to close isn't known. Southland Best Buy outlets are in , , , Matteson, Crestwood and Burbank, and there's a mobile shop in the Chicago Ridge Mall, according to the Best Buy store locator.
"I am not satisfied with the pace or degree of change we have made up to this point," Chief Executive Brian Dunn said in a conference call with analysts, adding, "We are evolving our retail store strategy. We are increasing our points of presence while decreasing our overall square footage."
Best Buy shares were off as much as 9%, to around $24.16, in Thursday midday trading.
On Thursday Best Buy also reported a $1.7 billion loss for its fourth quarter ended March 3.
The Wall St. Journal says that brick-and-mortar electronics stores increasingly are mere showrooms to consumers who make their purchases online.
A&B Sound Allied Radio — Chicago, Illinois, acquired by Radio Shack Circuit City — now reopened online through CompUSA/Tiger Direct Computer City CompuAdd Crazy Eddie Douglas TV — bought out by Tweeter Egghead Software Electric Avenue - Operated by Montgomery Ward Erol's Federated Group — bought by Atari Fretter Fred Schmid — Operated in Colorado, Montana, and Wyoming. Purchased by Fretter. Good Guys — purchased by CompUSA Incredible Universe Lafayette Radio Lechmere McDuff Mars Music On Cue — operated by Musicland in small towns and micropolitan areas, but closed before the Musicland/FYE merger Pacific Stereo Polk Brothers Schaak Electronics Silo SoftWarehouse — predecessor to CompUSA Sound Advice — Florida[26] SoundTrack Steinberg's (electronics store) Sun Television and Appliances — bankrupt and liquidated in 1998 Tech Hifi — co-founded by Sandy Ruby at M.I.T. in 1964[27] (Nobody Beats) The Wiz Tweeter The Warehouse Video Concepts Ultimate Electronics
Have a nice day! NO FOOLING! >>>>>>>>>>>>>>>>>>>>>>>>
Whatever they had.... they had one on display....you could check it out..If you liked it you filled out the order sheet. You could also check prior to completing your order form whether or not they even had any in stock. Most of the time wasted by my wife and myself that particular holiday season. Was spent listening to a salesperson describe the model. The features it had. Advantages over disadvantages....blah blah blah..Only to find they didn't have it and had no idea when they would get it.
After Borders closed I will not shop at Barnes and Noble as Amazon is way cheaper with free shipping. It's sad I cannot go out and look for books, but it's the sign of the times.