Best Buy To Scale Back Its Big-Box Stores

NEW YORK (AP) — Best Buy plans to open up to 800 mobile-device stores as it shrinks its “big-box” stores in an effort to be more competitive as consumers increasingly shop online.

The largest U.S. electronics retailer plans to shrink square footage at big-box stores by 10 percent over the next three to five years. Meanwhile, it plans to open 600 to 800 Best Buy Mobile stand-alone stores, executives said at an analyst conference on Thursday.

Big-box stores are increasingly being seen as outmoded as more shoppers research and buy electronics online.

But Best Buy CEO Brian Dunn says physical stores remain a cornerstone of Best Buy’s strategy. But the Minneapolis company also plans to double its $2 billion in online revenue in three to five years.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

One Comment

  1. Best Buy! Worst Managers.... says:

    I have dealt with some “higher level Managers” at Best Buy……I was NOT impressed….the company seems poorly run by people who were just skating along as the products sold themselves…..now the tech sector is leveling off….it’s true strength is showing….
    Sorry Best Buy…..I hope you get your act together……

  2. TS says:

    I love Best Buy and have always had a positive experience. I won’t go anywhere else.

  3. captainobvious says:

    Li9sten u can barter for a tv price at best buy , im sure most didnt know that wake up best buy is solid

    1. Chris says:

      Captain Obvious,
      Why are your posts never quite so obvious?

      1. captainobvious says:

        every post is obvious, this 1 might be the least obvious but the rest are plain as day simpleton

  4. BuyOnline says:

    Hey, if you’re looking for where to buy electronics online please check out our online electronics shop, just click on any image to get the very best prices and big discounts there. Thanx for looking

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