Big box giant Best Buy’s announcement of a $1.7 billion loss in its most recent quarter came with a planned wave of store closures. 50 stores are set to shutter and 400 jobs will be lost. As grim as that news is, it comes with a bright spot: the chain plans to open 100 standalone Best Buy Mobile stores centered on its technology product offerings.
A chain devoting as much square footage as Best Buy has to CD and DVD media was a chain destined for an adjustment. Competing with downloadable titles was a losing proposition and had to have dragged down returns per square foot to the point that the “big” in “big box” began to look less like a selling point than an albatross around the neck.