Best Buy shutting down 250 of its mobile phone stores
Best Buy has long sold smartphones in its stores, but it's also operated standalone Best Buy Mobile stores that focus solely on phones. Today we've learned that those standalone phone stores will soon be no more.
Best Buy will shut down all 250 of its Best Buy Mobile stores effective May 31, according to Reuters. The retailer will continue to sell phones in its 1,000 main Best Buy stores. Also of note is that the 52 mobile-focused Best Buy stores in Canada will not be affected by this decision.
According to an internal memo from Best Buy CEO Hubert Joly, these Best Buy Mobile stores contributed to a little over 1 percent to Best Buy's overall revenue. Additionally, 85 percent of the Best Buy Mobile stores are within three miles of a regular Best Buy Store.
As for the employees that work at these Best Buy Mobile stores, the memo said that Best Buy will help them look for other positions within the company over the next three months. Those who leave after May 31 will be offered severance and help with an external job search.