Best Buy will be closing 50 U.S. stores, laying off 400 employees at both corporate and support levels, the company announced last Thursday.
The news comes after the Richfield, MN-based company released its fiscal year fourth-quarter earnings, showing a $1.7 billion loss.
It's not yet clear which of the company's stores it plans to close. Northern Virginia has 10 Best Buy stores, including locations in Woodbridge, Leesburg, Reston and Fairfax.
"We are taking the necessary steps this next year to evolve our total retail store strategy, and make it even easier for customers to shop with Best Buy and access our services," said spokesperson Jeremy Baier.
To achieve this, Baier said one of the first steps will be the closing of 50 U.S. Best Buy stores to fuel growth initiatives that will include connected stores that provide better service and product interactivity.
"We are deliberate and thoughtful when we make such decisions. We are working to ensure the impact to our employees will be as minimal as possible, while serving all customers in a convenient and satisfying way," Baier said. "We will announce details about specific store locations and timing for closings once they are finalized."
With more people turning to websites such as Amazon.com to purchase electronics and goods, more and more physical stores are disappearing. It's happened with Circuit City and Border's in recent years.
A DailyFinance.com article (Five Big Retail Chains That Will Be Gone in 5 Years) from January alleges that stores like Best Buy are having a hard time keeping up with their online competition and staying competitive. People now use stores like Best Buy to test out and try devices before purchasing them elsewhere for less, and items such as CDs and DVDs are becoming obsolete.
How, or where, do you buy your gadgets? Do you shop at Best Buy and other brick-and-mortar stores? Would you miss the local Best Buy? Are you comfortable shopping online? How do you feel about the loss of jobs? Let us know by speaking out in the comments.
boseamus
1:52 pm on Monday, April 9, 2012
Some of the least satisfacory shopping experiences I've ever had have been at Best Buy. I cannot imagine that I was alone in that. Similar to Safeway.
Patti Smith
2:17 pm on Monday, April 9, 2012
I love Best Buy. The store in Woodbridge, VA has an excellent staff and they have been most helpful recently in helping me select a large tv and computer. The HUGE problem they do have is there's not enough help in the Geek Squad Department. I've waited 2 hours to get help, which is way too long.
Patti Smith
John Bonich
4:11 pm on Monday, April 9, 2012
I'd be shocked if they close the Woodbridge store as its one of their busier locations. That being said, I wouldn't miss it if it did. They don't educate or inform their employees about products and promotions, their prices aren't competitive anymore and their selection is severely lacking. Best Buy is a shadow of what it used to be.
Vinny Darby
9:55 am on Tuesday, April 10, 2012
The Woodbridge store won't close, it's the most popular location I've been to, but they have the worst customer service. Someone "greets" you from behind when you step in the door. The people at the return counter are always slow and incompetant. The sales people always know less about the product than I do. Even Walmart treats their customers better. If I can get the product somewhere else, I do.
Staci Grogan
10:34 am on Tuesday, April 10, 2012
This doesn't surprise me one bit. I see the parking lot at the Woodbridge location less and less full everytime I pass by there.
theflo
2:12 pm on Thursday, April 19, 2012
I only go there for small inexpensive items. Unfortunately I have to admit with most others on this topic. Service Poor, and the Prices are horrendous.
If they don't change their practices soon they will go the way of Crazy Eddie!!!
Lauren Jost
2:51 pm on Thursday, April 19, 2012
Thanks for the comments, everyone. People have said on our Facebook page (https://www.facebook.com/WoodbridgePatch) that "if Best Buy bites the dust, Amazon will have one less big reason to keep their their prices low" and "No matter what stores close, this is more jobs that will be lost. Until our government mandates sales tax on online purchases we'll see this more and more often."
Great conversation!