Best Buy Closing 50 Stores and Begins Hunt for New CEO
Best Buy is closing 50 U.S. stores by the end of 2012 and is on the hunt for a new CEO. The retail chain store already closed two stores this year (one in Kansas City, Mo., and one in Scottsdale, Ariz.), and it notified five Twin Cities stores and one San Antonio store that they will close later this year. On Saturday, it confirmed the identity of the remaining store locations that will close later this year, most of which will permanently close by May 12.
The Best Buy Board of Directors also announced it has launched the process of searching for a new CEO and said it could take six to nine months to complete. When Best Buy announced the resignation of Brian Dunn as chief executive officer and director on April 10, the company said "there were no disagreements between Mr. Dunn and the company on any matter relating to operations, financial controls, policies or procedures. There was mutual agreement that it was time for new leadership to address the challenges that face the company."
But the Wall Street Journal, citing "people familiar with the matter," said the board was exploring whether Dunn had misused company assets in the course of an alleged relationship with a female subordinate.
The board named director Mike Mikan interim CEO. He introduced himself in a message on Wednesday and said he was very pleased with the priorities the company had established including "improving the customer and employee experiences, re-energizing the store portfolio, reducing costs and driving our global growth strategies (Connections, Services, e-commerce and China)."
The company said it was closing the 50 stores as part of an initiative to "increase points of presence, while decreasing overall square footage."
It will remodel some key stores with a new "Connected Store" format and will build additional Best Buy Mobile small format stores throughout the U.S. The company said it would continue to share details of such actions as the year progresses. "We are committed to making it easier for customers to shop with us, whenever and wherever they want."
A list of the store closures follows.
Best Buy is closing 50 U.S. stores by the end of 2012 and is on the hunt for a new CEO. The retail chain store already closed two stores this year (one in Kansas City, Mo., and one in Scottsdale, Ariz.), and it notified five Twin Cities stores and one San Antonio store that they will close later this year. On Saturday, it confirmed the identity of the remaining store locations that will close later this year, most of which will permanently close by May 12.The Best Buy Board of Directors also announced it has launched the process of searching for a new CEO and said it could take six to nine months to complete. When Best Buy announced the resignation of Brian Dunn as chief executive officer and director on April 10, the company said "there were no disagreements between Mr. Dunn and the company on any matter relating to operations, financial controls, policies or procedures. There was mutual agreement that it was time for new leadership to address the challenges that face the company."
But the Wall Street Journal, citing "people familiar with the matter," said the board was exploring whether Dunn had misused company assets in the course of an alleged relationship with a female subordinate.
The board named director Mike Mikan interim CEO. He introduced himself in a message on Wednesday and said he was very pleased with the priorities the company had established including "improving the customer and employee experiences, re-energizing the store portfolio, reducing costs and driving our global growth strategies (Connections, Services, e-commerce and China)."
The company said it was closing the 50 stores as part of an initiative to "increase points of presence, while decreasing overall square footage."
It will remodel some key stores with a new "Connected Store" format and will build additional Best Buy Mobile small format stores throughout the U.S. The company said it would continue to share details of such actions as the year progresses. "We are committed to making it easier for customers to shop with us, whenever and wherever they want."
A list of the store closures follows.
Locations of 2012 U.S. Best Buy store closings
| |||
| Store Name | Address | City | State |
Casa Grande
|
1004 N Promenade Pwy
|
Casa Grande
|
AZ
|
Lake Pleasant
|
10134 W Happy Valley Rd
|
Peoria
|
AZ
|
East Palo Alto
|
1751 E Bayshore Rd
|
East Palo Alto
|
CA
|
Westwood
|
10861 Weyburn Ave
|
Los Angeles
|
CA
|
Manteca
|
934 Perimeter Dr
|
Manteca
|
CA
|
Moreno Valley East
|
27220 Eucalyptus
|
Moreno Valley
|
CA
|
Ontario
|
4120 E 4th St
|
Ontario
|
CA
|
Pittsburg
|
4405 Century Blvd
|
Pittsburg
|
CA
|
Jamboree
|
2857 Park Ave
|
Tustin
|
CA
|
Arapahoe & Parker
|
15800 E Briarwood Cir
|
Aurora
|
CO
|
The Forum
|
9370 Dynasty Dr
|
Fort Myers
|
FL
|
Oldsmar
|
11655 W Hillsborough Ave
|
Tampa
|
FL
|
Fayetteville
|
128 Pavilion Pkwy
|
Fayetteville
|
GA
|
Loganville
|
4014 Atlanta Hwy
|
Loganville
|
GA
|
Addison
|
1038 N Rohlwing Rd
|
Addison
|
IL
|
87th & Dan Ryan
|
8900 S Lafayette Ave
|
Chicago
|
IL
|
Deerfield
|
200 S Waukegan Rd
|
Deerfield
|
IL
|
Matteson
|
4707 Lincoln Mall Dr
|
Matteson
|
IL
|
Mundelein
|
1100 N Rt 83
|
Mundelein
|
IL
|
West Dundee
|
979 W Main St
|
West Dundee
|
IL
|
Speedway
|
10500 Parallel Pkwy
|
Kansas City
|
KS
|
Back Bay
|
360 Newbury St
|
Boston
|
MA
|
Wareham
|
2421 Cranberry Hwy
|
Wareham
|
MA
|
Inner Harbor
|
600 E Pratt St
|
Baltimore
|
MD
|
Hunt Valley
|
118 Shawan Rd
|
Hunt Valley
|
MD
|
Biddeford
|
405 Mariner Way
|
Biddeford
|
ME
|
*Brooklyn Center
|
5925 Earle Brown Dr
|
Brooklyn Center
|
MN
|
*Edina
|
3200 Southdale Cir
|
Edina
|
MN
|
*Hutchinson
|
1350 Hwy 15 S
|
Hutchinson
|
MN
|
*Lakeville
|
18350 Orchard Trl
|
Lakeville
|
MN
|
Rochester South
|
4540 Maine Ave Se
|
Rochester
|
MN
|
*Rogers
|
20870 Rogers Dr
|
Rogers
|
MN
|
Ellisville
|
15678 Manchester Rd
|
Ellisville
|
MO
|
Monroe
|
3151 W Highway 74
|
Monroe
|
NC
|
Rocky Mount
|
1100 N Wesleyan Blvd
|
Rocky Mount
|
NC
|
Millard
|
12210 K Plz
|
Omaha
|
NE
|
East River Plaza
|
517 E 117th St
|
New York
|
NY
|
Steelyard Commons
|
3506 Steelyard Dr
|
Cleveland
|
OH
|
Salem Mall
|
5031 Salem Ave
|
Dayton
|
OH
|
Caguas
|
Las Americas Expry PR52 Zafiro
|
Caguas
|
PR
|
Middletown
|
890 W Main Rd
|
Middletown
|
RI
|
Hickory Hollow
|
5255 Hickory Hollow Pkwy
|
Antioch
|
TN
|
Techridge
|
12901 North I-35
|
Austin
|
TX
|
*Woodlake Parkway
|
6218 Woodglen
|
San Antonio
|
TX
|
Landmark Mall
|
5901 Stevenson Ave
|
Alexandria
|
VA
|
Cosner's Corner
|
9745 Jefferson Davis Hwy
|
Fredericksburg
|
VA
|
East Richmond
|
4410 S Laburnum Ave
|
Richmond
|
VA
|
Mill Plain
|
16611 Se Mill Plain Blvd
|
Vancouver
|
WA
|
* indicates stores notified March 29, 2012 of closure plans
Note: Two stores in Kansas City, MO (Metro North) and Scottsdale, AZ (Shea) permanently closed in February 2012. | |||
