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Best Buy to close 50 U.S. stores, stock drops
This article generally discussed how Best Buy's stock went down 8% recently. Before, the stock was doing better than expected, according to Thomson Reuters analysts. But after news spread that Best Buy was closing down several of their stores 50 of their big stores, the stock went down. Instead of having big stores as they do now, Best Buy is planning to open up 100 smaller, stand-alone stores. This would save the company about $800 million, by 2015.
This article interested me because I go to Best Buy for all my Technological needs. If I want to get a new laptop or some new headphones, I would first go to Best Buy. I am surprised and a little disappointed that Best Buy is closing down some of their stores. I hope that Best Buy doesn't close down the big store near me. This article also relates to our class, because our own hardware could have come from either Best Buy or their competitors.
Smith, A. (2012, March 29). Best buy to close 50 U.S. stores, stock drops. Retrieved from http://money.cnn.com/2012/03/29/markets/best_buy/index.htm?iid=Lead&hpt=hp_t3
Article posted March 29, 2012 at 02:04 PM •
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