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All of Best Buy’s mobile phone stores will be closed by the end of May due to a lack of sales: according to the CEO, they represent only 1 percent of Best Buy’s overall revenue and 1 percent of its total square footage. Their services will merely be shifted to the big-box stores.
While small in their physical footprints, the store closings will be another setback for shopping malls that have been grappling with declining traffic and a rash of store closures in the last year as a number of chains have gone bankrupt or pared back their stores amid the rise in online shopping.
While small in their physical footprints, the store closings will be another setback for shopping malls that have been grappling with declining traffic and a rash of store closures in the last year as a number of chains have gone bankrupt or pared back their stores amid the rise in online shopping.