Company coping with changing market
50 stores closing nationwide, another in Boston to go too
The Best Buy on Cranberry Highway in Wareham is one of 50 set to be closed by the company in May. The store on Newbury Street in Boston will close as well, but the Hyannis location is safe - for now.
in a press release, the company called the decision to close the stores “not an easy decision to make.” The company promised to help affected employees find new jobs with the company.
According to the Wall Street Journal, the company finds itself trying to adjust to a changing retail environment as consumers move away from “Big Box” stores to online shopping. In the press release, the company states “our previously announced retail store actions are intended to increase points of presence, while decreasing overall square footage, for increased flexibility.”
The company reportedly plans to open small stores focusing on mobile phone sales. Stores in Plymouth and Hyannis will remain open.
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