http://pr.bby.com/phoenix.zhtml?c=244152&p=irol-newsArticle&ID=1683036&highlight=

Quote :

Best Buy Confirms Closure Plans for Remaining 42 U.S. Big Box Stores
Brings total of store closures to 50 by end of 2012
Most locations will permanently close by May 12; three additional locations to close by late summer


RICHFIELD, Minn. – April 14, 2012 – Best Buy announced plans March 29, 2012 to close 50 U.S. stores as part of a number of key initiatives for this year. To date, we have closed two stores this year (one in Kansas City, Mo., and one in Scottsdale, Ariz.), plus have notified five Twin Cities stores and one San Antonio store that they will close later this year.

This morning, we have confirmed the remaining 42 store locations that will close. A complete list of store locations can be found at the end of this statement. Employees of these 42 stores have been notified this morning.

This was not an easy decision to make. We chose these stores carefully, and are working to ensure the impact to our employees will be as minimal as possible, while serving all customers in a convenient and satisfying way. But we also recognize the impact this news has on the people who deserve respect for the contributions they have made to our business.

We will be working to help these employees find other positions inside Best Buy. If they don’t find new positions, or if they choose not to work at a different location, a transition including severance packages will be available.

Three of these 42 locations remain open today, Saturday; the rest of the affected stores are closed today, and will reopen Sunday, April 15. Customers currently doing business with these stores are being contacted today.

We expect most of these stores will permanently close by May 12. Three additional locations are expected to permanently close later this summer. 2

Best Buy continues to have additional retail store locations – big boxes and standalone Best Buy Mobile stores – for customers to choose from in these affected locations.

More broadly, our previously announced retail store actions are intended to increase points of presence, while decreasing overall square footage, for increased flexibility – including key store remodels with a new Connected Store format, while continuing to build out the successful Best Buy Mobile small format stores throughout the U.S. We will continue to share details of such actions as the year progresses. We are committed to making it easier for customers to shop with us, whenever and wherever they want.

I, for the life of me, can't understand why Circuit City went out of business and Best Buy, when Best Buy was more expensive. It's inevitable though. Best Buy needs to come down on their prices or they will face the same fate as CC.

I agree that Circuit City was better than Best Buy. BB is not only over priced, but the inside of the stores are gaudy and cluttered. CC was like a department store that was much more organized and had better customer service.

I'm pretty pissed about this, being that one closing was the only one in the area I'm moving to. What's worse is Circuit City was supposed to be across the street from it but went out of business before the building was even finished.

I do understand why Circuit City went out of business, though. Anybody remember Divx? It was CLEARLY a stupid idea, even for it's time. http://www.the-doa.com/Pages/DoaDivxHistory.html

Besides that, Circuit City looked mad depressing and pitiful around here...and this was it's birthplace! So we pretty much saw the writing on the wall.

Sucks...especially for the people who are losing their jobs.

Nystyle709 wrote:

I, for the life of me, can't understand why Circuit City went out of business and Best Buy, when Best Buy was more expensive. It's inevitable though. Best Buy needs to come down on their prices or they will face the same fate as CC.

I agree Best Buy is more expensive, even their DVD's are way up there in price, I am not going to spend 25 bucks on a Blu Ray disc when I can wait and get it for more than half that price on Amazon.com. I liked Circuit City much better than Best Buy.