Minneapolis - Best Buy has identified the 50 flagship stores it previously
announced would close.
Two of the locations, in Kansas City, Mo., and Scottsdale, Ariz.,
have already been shuttered, and six stores within the Connected Store-format
test markets of Minneapolis-St. Paul and San Antonio will close later this
Most of the remaining 42 stores are expected to close by May 12,
and all of the affected markets will continue to be served by other big-box and
freestanding Best Buy Mobile stores.
The closures are part of Best Buy's strategic
initiative to shave $800 million in costs over the next four years, shed
square footage, and shift its big-box footprints to smaller Connected and
Mobile Store formats.
Employees at most of the
affected locations were notified on Saturday.
"This was not an easy decision to make," the company said in a
statement. "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."
Workers who are unable or unwilling to find jobs at other Best
Buy locations will be offered a severance package, the retailer said.
Best Buy reiterated that the closings are intended "to increase
points of presence, while decreasing overall square footage, for increased
"We are committed to making it easier for customers to shop with
us, whenever and wherever they want," the company said.
The list of targeted stores follows: