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Best Buys Will Be Closed

What about ours? There are six Best Buy stores in the south suburbs, but a list of closures isn't known yet.

Best Buy executives may be giving up on some of their big-box stores, according to a Wall St. Journal report on Thursday.

The Minnesota-based electronics chain said it would close 50 Best Buy stores. At this time, however, the list of stores to close isn't known. Southland Best Buy outlets are in , , , Matteson, Crestwood and Burbank, and there's a mobile shop in the Chicago Ridge Mall, according to the Best Buy store locator.

"I am not satisfied with the pace or degree of change we have made up to this point," Chief Executive Brian Dunn said in a conference call with analysts, adding, "We are evolving our retail store strategy. We are increasing our points of presence while decreasing our overall square footage."

Best Buy shares were off as much as 9%, to around $24.16, in Thursday midday trading.

On Thursday Best Buy also reported a $1.7 billion loss for its fourth quarter ended March 3.

The Wall St. Journal says that brick-and-mortar electronics stores increasingly are mere showrooms to consumers who make their purchases online.

alski March 30, 2012 at 04:35 PM
That's a very good point. There are many people myself included who like the whole "hands on" of shopping. You want to touch it. Check it all out before you spend big dollars on it. We need an electronics store that strikes a happy medium with all consumers. Who remembers the Service Merchandise stores of yesteryear? We need an electronics store that would model themselves after that. Whatever they had.... they had one on display....you could check it out..If you liked it you filled out the order sheet. You could also check prior to completing your order form whether or not they even had any in stock. Most of the time wasted by my wife and myself that particular holiday season. Was spent listening to a salesperson describe the model. The features it had. Advantages over disadvantages....blah blah blah..Only to find they didn't have it and had no idea when they would get it.
Moe March 30, 2012 at 06:14 PM
They are not very customer oriented. Their Geek Squad is so expensive. They charge to much, for what they deliver. I beleive they take advantage of the older customers that are not as informed as they should be on on HD tv's, computers, etc.
zula 5 April 01, 2012 at 03:54 AM
You have to relax Joe.
Rcgorman April 01, 2012 at 11:45 PM
Wow, great list...thanks.
Sara Waters April 02, 2012 at 12:13 AM
I worked for Best Buy back in the early 90's. It was before the age of everyone having access to the internet and internet shopping. There is too much competition out there. Today, the market is too big and Best Buy prices are much higher than anywhere else. When I worked for Best Buy the largest department was Music. Today, it's the smallest. After Borders closed I will not shop at Barnes and Noble as Amazon is way cheaper with free shipping. It's sad I cannot go out and look for books, but it's the sign of the times.

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