Today's Hard|Forum Post
Today's Hard|Forum Post

Thursday March 29, 2012

Best Buy Closing 50 Stores

After reporting weaker than expected sales, Best Buy announced that it is closing 50 stores and cutting 400 jobs in corporate and support areas. The silver lining? The company says it is going to invest in improving customer service.

Despite offering bigger discounts and free shipping to lure shoppers from its rivals including Wal-Mart Stores Inc and Inc , Best Buy's same-store sales fell 2.4 percent in the quarter, including a 2.2 percent decline at its U.S. stores open at least 14 months.