Over the next month, the brand will permanently close five stores across four different states.
The news that Best Buy was closing stores was first announced at the end of October last year, however despite a challenging year in 2020, the brand maintained a portfolio of 977 stores last year. Best Buy will shut two stores in Richmond, Virginia along with stores located in Syracuse, New York, Brockton, Massachusetts and Carbondale, Illinois.
The company commented in a statement: “As we’ve said many times before, our stores are a vital part of our growth strategy. We’re constantly looking at our store network, responding to customer and demographic shifts just as any retailer does. This is the same approach we have employed for the past several years.”
Over the past year, Best Buy, like many others, has pivoted their approach to encompass digital sales and contactless service offerings which helped it to beat expectations in the third quarter.
