Best Buy to close its small-format mobile phone stores - WFMJ.com News weather sports for Youngstown-Warren Ohio

Best Buy to close its small-format mobile phone stores

Posted: Updated:

By ANNE D'INNOCENZIO
AP Retail Writer

NEW YORK (AP) - Best Buy is shuttering all 250 of its small-format mobile phone stores in the U.S., saying the locations have become less profitable.

A memo from the CEO to employees says the stores will close by the end of May and every effort will be made to retain the workers.

The nation's largest consumer electronics chain launched the stores more than a decade ago, before Apple's iPhone was launched. The mobile phone business was growing quickly, with high profit margins.

But it said the business has matured and running the mobile stand-alones cost more than its larger stores, and that 85 percent of the stand-alones are within 3 miles of a big box store.

Best Buy says the stand-alone stores accounts for just over 1 percent of the company's total revenue.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • More NewsMore>>

  • Cost of governor's race topped $64M, shy of state record

    Cost of governor's race topped $64M, shy of state record

    Monday, December 10 2018 1:27 PM EST2018-12-10 18:27:13 GMT

    Spending in Pennsylvania's gubernatorial race topped $64 million, as Democratic Gov. Tom Wolf thumped Republican Scott Wagner to win a second term.

    More >>

    Spending in Pennsylvania's gubernatorial race topped $64 million, as Democratic Gov. Tom Wolf thumped Republican Scott Wagner to win a second term.

    More >>
  • Bomb threat leads to demand of bitcoin

    Bomb threat leads to demand of bitcoin

    Sunday, December 16 2018 9:32 AM EST2018-12-16 14:32:13 GMT
    On Dec. 13 Wilhelm Winery at 590 Georgetown Rd. in Hadley Pennsylvania received a bomb threat.  According to Pennsylvania State police, the bomb threat came in the form of an email. Police say the email demanded $20,000 in "Bitcoin" or a bomb inside the establishment would be detonated on Dec. 13, at 2:21 pm.  Pennsylvania State Police say that there is no suspect yet. More >>
    On Dec. 13 Wilhelm Winery at 590 Georgetown Rd. in Hadley Pennsylvania received a bomb threat.  According to Pennsylvania State police, the bomb threat came in the form of an email. Police say the email demanded $20,000 in "Bitcoin" or a bomb inside the establishment would be detonated on Dec. 13, at 2:21 pm.  Pennsylvania State Police say that there is no suspect yet. More >>
  • A rainy Sunday, a chilly start to the week, and a mild end

    A rainy Sunday, a chilly start to the week, and a mild end

    Sunday, December 16 2018 6:35 AM EST2018-12-16 11:35:27 GMT
    It's shaping up to be a rainy end to the weekend for the Valley, but things will improve. We'll see showers through early Sunday afternoon with maybe a peek of sun late; high 44 and low 30. Monday looks mostly cloudy and there could be a flurry especially north and east with highs near 36. Tuesday will become mostly sunny by late day and a high of 35. Wednesday will be mostly cloudy turning mostly sunny with highs in the mid 40s. Becoming mostly cloudy Thursday with rain arriving by...More >>
    It's shaping up to be a rainy end to the weekend for the Valley, but things will improve. We'll see showers through early Sunday afternoon with maybe a peek of sun late; high 44 and low 30. Monday looks mostly cloudy and there could be a flurry especially north and east with highs near 36. Tuesday will become mostly sunny by late day and a high of 35. Wednesday will be mostly cloudy turning mostly sunny with highs in the mid 40s. Becoming mostly cloudy Thursday with rain arriving by...More >>
Powered by Frankly
All content © Copyright 2000 - 2018 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms