:quality(70):focal(446x195:456x205)/cloudfront-us-east-1.images.arcpublishing.com/cmg/5D2E5CPZZNEGNLIIZXN7OG7SQU.jpg)
The electronics retailer Best Buy is set to close 10 to 15 stores this year and into early next year, according to an earnings call last week where the CEO blamed declining sales.
On the earnings call, Best Buy CEO Corie Barry said the company needs “to strike a balance between its workforce and consumer interest,” according to The Austin American-Statesman.
The chain closed 24 of its more than 1,000 stores last year. Earlier this month, two Best Buy locations closed – one in Colorado and one in Minnesota.
The retailer has not announced which locations will close.
The news comes as other retailers have announced they will also close brick-and-mortar locations.
Last week, discount retailer Dollar Tree said it would close about 1,000 stores under the Family Dollar and Dollar Tree brands over the next several years. Walmart announced it will be closing three more stores in the next months, citing poor economic performance.
© 2024 Cox Media Group
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/XWS3UOAZJZHR5PTA7FWZMMJBXQ.JPG)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/FJLTPEDYRVANDGGIFRX2KQ4CIY.jpeg)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/B2JMEZFTPVBCHKNFPYZGKUVRIA.PNG)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/B7CCR4UARJH2TCGBOOHWQ665AI.jpeg)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/LVO2IIZNTJDGLEPD7JKH4JDCX4.png)