It’s official! Best Buy will be shutting down all of its small mobile stores throughout the country.
The Minneapolis-based retailer earlier sent out an internal memo to its employees letting them know about the decision. Reuters was able to take hold of a copy of the memo and reported it on its website.
According to the report, the retail store intends to close a total of 250 small mobile stores by May 31st. Reportedly, the reason behind this is because these stores only contributed a little over 1 percent to the overall revenue obtained by the company in the past year.
If this sounds worrying for you, there’s no reason to panic. Even though Best Buy is shutting down 250 stores in total, the company plans to continue selling mobile phones through its larger stores and online. The smaller stores they intend to close measure around 130 sq meters while the larger stores have a size of 3,716 sq meters.
In addition, the closures will not affect the Best Buy mobile stores based in Canada.
In the internal memo sent out by the company, Best Buy promised they would assist in the redeployment of its employees to the other parts of the business within the next three months. Although this comes as a sincere action for the company, it’s unsure how many will be affected by the closure.
It’s been 10 years since Best Buy opened its dedicated mobile phone outlet, a time before Apple released its first iPhone ever. This decision isn’t new for a company like Best Buy. Just last month, the retailer announced they will no longer be selling physical CDs in their stores due to the growth of sales in digital music.
And with the current competition nowadays, it’s easy to understand why Best Buy came to this conclusion. After all, its competitors all have larger stores and have also focused on selling things online.