Best Buy to Open 100 New Mobile Stores
Best Buy revealed today in its quarterly earnings statement that it plans to open 100 new Best Buy Mobile stores during fiscal 2013, which will specialize in selling cellular phones and services. The company said that is has about 305 Best Buy Mobile stores open as of today, and will increase the number of mobile-only stores to between 600 and 800 by 2016. Best Buy reported a $1.7 billion loss for the quarter, however, and will close 50 of its big box retail stores across the country, as well as cut about 400 positions. The company said it is working to reduce costs to help turn its financials around.
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