Electronics retailer Best Buy Co. Inc. (BBY) in an update on its restructuring plans revealed last month said it will close 42 stores by May 12, media reports said Saturday.
In March the company said it will close 50 stores this year. It has already closed two stores and has planned closures for six others as well. The state of California alone will have seven closures, reports said.
Best Buy recently saw the exit of its CEO Brian Dunn amid a probe into personal misconduct. Dunn's resignation comes days after the company posted a whopping $1.7 billion loss for the fourth quarter, hurt by huge charges related to Carphone Warehouse.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.