Best Buy To Close All 250 of Its Smaller, Mobile Phone Stores

Best Buy is planning to close all of its roughly 250 smaller-format mobile phone stores, CEO Hubert Joly said to employees Wednesday in an internal memo, which was reviewed by CNBC. From a report: The stores, which are about 1,400 square feet in size compared with Best Buy's bigger boxes of 40,000 square feet, are scheduled to close by the end of May, he said. The mobile stores are almost exclusively located within malls, with a few scattered throughout open-air strip centers. "We feel good about the opportunity to retain customers and transition them to another one of our sales channels," Joly wrote to workers. "85 percent of existing standalone Mobile stores are within three miles of a Big Box store."

Re:

[cayenne8]

Hmm....isn't there *some* way that this is the fault of "AI"??

I mean, from what I'm readin, AI is the sole source of unemployment that is starting to wreak havoc with employment....?!?!

Re:

[the_skywise]

"Alexa, as CEO, how can I save the company money"
"Ok Hubert, I googled some responses for you the first one reads: "BEST BUYS MOBILE PHONE STORE SUX0RS"
"Alexa, Stop! That's a brilliant idea!"

Is that wisdom?

[RobertNotBob]

Sometimes, citing justification for your actions calls attention to the wisdom of your actions. - Sure. - But sometimes, it just calls attention to how foolish that you have been all along. -- quote :: "85 percent of existing standalone Mobile stores are within three miles of a Big Box store." :: - Who allowed that to happen in the First Place?

Re:

[pz]

Inside a city, where the bulk of the US population lives, 3 miles is a vast distance. If you have to go 3 miles to get to a store, that store is doomed, as its competitors will have five or ten in the same distance.

Re:

[tlhIngan]

Sometimes, citing justification for your actions calls attention to the wisdom of your actions. - Sure. - But sometimes, it just calls attention to how foolish that you have been all along. -- quote :: "85 percent of existing standalone Mobile stores are within three miles of a Big Box store." :: - Who allowed that to happen in the First Place?

I don't see it as wise, because if I'm shopping in a mall, and you're not there, there will be 3 dozen other stores vying for my mobile phone business. I'm not going

What?!?!

[heezer7]

You mean copying RadioShack didn't work????

Who can explain this?

[freeze128]

Best Buy's 2018 Q1 earnings surpass Wall Street's projections... So they're closing stores. WTF?

The only things i bought from Best Buy

[Revek]

Were parts. Video cards network cards and such. Since they no longer sell these I have no reason to ever go in one again. I can buy a TV nearly anywhere.