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Best Buy

Sunday, April 15, 2012

No Best Buy Stores Closing in New Jersey

The company named which stores are being closed, but New Jersey locations have been spared, the Minnesota-based company says.

Best Buy stores in New Jersey are safe from the latest closures, the company announced Saturday.  “This morning, we have confirmed the remaining 42 store locations [out of 50] that will close,” Best Buy said in a news release (attached as PDF). … Employees of these 42 stores have been notified this morning.” “This was not an easy decision to make,” Best Buy said. “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.” The company said it will be working to help affected employees …

Friday, March 30, 2012

Best Buy to Close 50 Stores Next Year

The big box retailer also announced it will cut 400 jobs.

Best Buy has announced plans to close 50 of its 1,100 big box stores nationwide in 2013 and step up efforts to sell mobile and computing products through smaller, "standalone" locations. The company said it will save $800 million over the next three years by cutting 400 corporate and support jobs as well as the 50 stores. The announcement did not state whether any decision has been made about which stores will be closed. There is one Best Buy in East Brunswick, on Route 18. Best Buy reported a loss of $1.7 billion, or $4.89 a share for the quarter ending March 3, compared to a profit of $651 million, or $1.62 a share for the same period last year. The company said this performance was impacted by $2.6 billion in restructuring costs and …

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