A famous retailer now closes 24 stores with more to come this year, sources are reporting on the growing matter.
Best Buy fanatics have been left devastated after chiefs announced a raft of store closures, reports The-Sun.
“Bosses at the electronics retailer have confirmed two dozen outlets nationwide closed in the company’s 2024 fiscal year, which ended in January.
But more closures look set to be on the way as between 10 and 15 outlets are likely to close in 2025.”
Chiefs announced the shutdowns during a company earnings call, per the ABC affiliate KABC-TV.
News of the upcoming shutdowns has left fans reminiscing on their memories.
Some shared fears about the future of brick-and-mortar stores.
“The end is coming,” one shopper feared.
Fans have lamented the rise of online retail giants and how they are starting to dominate the marketplace.
“Brick and mortar will always struggle to [sic] the online marketplace,” another chimed.
“Best Buy is no different. They have nothing to really offer you can’t order online and get same day or [the] next day.”
A tech fanatic reeled off a list of stores in another social media post.
They included brands such as Fry’s – an electronics company that closed all its stores in 2021.
Circuit City, another electronics firm that closed all retail outlets in 2009, was also named.
“All my favorite stores [have] gone. I guess the new age of shopping is online,” the shopper said.
Fans have said they are sorry to hear the news about the Best Buy stores.
“That is a bummer. Didn’t shop there often. But it was nice to have it when you needed them,” one said.
“Super sad! One of the best companies I’ve ever worked for,” a former employee chimed.
It’s not known which Best Buy stores will be closing.
“As our ongoing practice, we will continue to close existing traditional stores during our rigorous review of stores as their leases come up for renewal,” Matt Bilunas, the chief financial officer, said.
For more news and updates like this, opt-in for push notifications.
Also Read: A Massive US Company Is Now Closing 500 Locations
Other Economy News Today
A famous clothing mall retailer is now closing for good after it filed for bankruptcy, leaving several loyal customers in despair.
A Forever 21 store located in a popular shopping mall is set to close in days after more than a decade of business.
Fans of the retailer are in despair after several of the chain’s stores across the US have shut or are closing, reports The US Sun.
The Forever 21 outlet at the Westfield Galleria Mall in Roseville, California – located around 25 miles from Sacramento – will close on March 31.
It comes just years after the chain filed for bankruptcy.
The store is closing after 15 years of business, per The Sacramento Bee.
Westfield Galleria is home to chains including Nordstrom, Macy’s, JCPenney, and Abercrombie & Fitch.
The Forever 21 store located in the Westfield shopping center is just one of several outlets that are closing.
Reacting to the closures, one fan said, “All the Forever 21 stores closing down fr [for real]? Ain’t no way this world is ending.”
Three Forever 21 stores in Kansas City, Kansas, are also closing down and liquidation sales have started.
The prices of clothes have been cut by 50% as bosses rush to clear the last remaining stock.
Signs warning customers that everything must go are hanging from windows, per The Kansas City Star.
Last month, The U.S. Sun reported that the Forever 21 store inside the Destiny USA mall in Syracuse, New York, is also closing on March 31.
Forever 21 has been part of the American retail scene for almost 40 years but in 2019, chiefs filed for bankruptcy.
At the time, bosses expected that up to 178 stores would shut in the US as part of the company’s restructuring plans.
Forever 21 has more than 540 stores globally.
For more news and updates like this, opt-in for push notifications.
Also Read: A Massive Company Now Announces Unexpected Layoffs in Arkansas
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors.
This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
Scroll below to view my stock purchases this month!
You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Frank Nez’s Stock Portfolio
Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?
Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.
11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.
Recommended For You ✨
About The Author
Leave your thoughts below.
For more news and updates like this, opt-in for push notifications.