Best Buy at Berkshire Mall Staying Open
Best Buy is reeling from online competition and announced last month that it would be reducing the number of locations in an effort to cut costs. The company has just disclosed the list of retail locations it plans to close this year, which will come to a grand total of 50 stores in the United States.
Boston and Wareham will lose one store each but that's it for Massachusetts. No stores are closing in nearby New York or Connecticut.
The hardest hit states were California, Illinois and Virginia. Best Buy officials said they expect most of these stores will permanently close by May 12. Three additional locations are expected to permanently close later this summer. Best Buy operates 1,400 stores across the nation.
USA Today reported the electronics retailer is also cutting 400 corporate jobs. CEO Brian Dunn stepped down last week. The company has said it will be opening some 100 smaller and more profitable "mobile" stores.