// IP Marketing video - START// IP Marketing video - END

Best Buy announces locations of 50 stores to be closed

PanARMENIAN.Net - Best Buy on Saturday, April 14 announced 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, The Associated Press reported.

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. It faces slower sales of expensive items like TVs, plus increased competition from Amazon.com and discount stores like Target.

Best Buy has about 1,400 locations in the United States. 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.

On Tuesday, Best Buy said CEO Brian Dunn had resigned after the board of directors began investigating his "personal conduct." The company lost $1.7 billion in the most recent quarter, partly because of restructuring costs.

 Top stories
The strong scale-up of treatment has seen annual AIDS-related deaths drop by 45% to 1.1 mln in 2015 from a peak of about 2 mln in 2005.
Purchased in bulk from Armenia, Absolut vodka, Johnnie Walker scotch and counterfeit Grey Goose are among the popular labels.
German lawmakers voted to extend the country’s military support for the global coalition fighting the Islamic State group until late 2017.
Mitigating civilian casualties remains a “key component” of the anti-IS air campaign in Syria and Iraq, the military emphasized.
Partner news