Best Buy to close nearly 260 mobile stores, including local store


Best Buy announced the closure of all 257 U.S. Best Buy Mobile stand-alone stores by May 31, due to “changing economics in the mobile industry.”

There is a Best Buy Mobile store located at the Mall at Fairfield Commons and another at Eastgate Mall in Cincinnati, according to its website. Best Buy began opening these stores in 2006, and the Mobile stores are typically located within shopping centers or malls.

» TRENDING BUSINESS NEWS: Kohl’s to partner with ALDI grocery stores

“Back then the mobile phone business was in a period of rapid growth and margins were high,” said Chief Executive Hubert Joly on the earnings call. “Fast forward to 2018 and the mobile phone business has matured, margins have compressed and the cost of operations in our stand-alone stores is higher than our big-box stores.”

The news came during Best Buy’s fourth-quarter earnings. The company saw same-store sales at the consumer electronics retailer rise 9 percent, which was better than the retailer expected.

FIVE FAST BUSINESS READS

• JC Penney cuts 360 jobs in stores, corporate headquarters

• Could Dayton see a hyperloop stop? City included in feasibility study

• Macy’s outlet store to open at shopping center in Dayton area

• Check out this $1 million home for sale in Clearcreek Twp.

• Tyra Patterson: Every day is a second chance



Reader Comments


Next Up in Business

Next DP&L leader will face changing company, utility needs
Next DP&L leader will face changing company, utility needs

Dayton Power and Light’s next chief executive will take over a power company that has greatly changed in past years with workforce and business restructuring. For the second time in less than a year, the company that supplies power to 515,000 customers in 24 counties throughout west central Ohio announced this week a change at the company&rsquo...
Kroger reopens Derr Road store after $7 million renovation
Kroger reopens Derr Road store after $7 million renovation

The Kroger store on Derr Road held a grand reopening Friday morning after a $7 million remodel. The renovations will help Kroger continue to be one of the top grocery stores in the region, said Kimberly Cooley, manager of the Derr Road store. Kroger started construction on the store on May 1. “We decided to remodel to invest in our store and...
Parents and homeowners: check for these recalled products
Parents and homeowners: check for these recalled products

The latest recalled products include high chairs, children’s clothing, and shower-related items, according to the Consumer Product Safety Commission. Skip Hop is recalling over 30,000 Tuo convertible high chairs because the legs can detach and cause your child to fall. There are 17 reports of legs coming off of the high chairs, but no injuries...
Rapper sues makers of video game 'Fortnite' over dance moves
Rapper sues makers of video game 'Fortnite' over dance moves

Rapper 2 Milly filed a lawsuit Wednesday against the makers of "Fortnite," saying they are illegally using a dance he created in their wildly popular video game. The Brooklyn-based rapper, whose real name is Terrence Ferguson, alleges that North Carolina-based "Fortnite"-maker Epic Games misappropriated his moves without compensation...
Coalition: Wright-Patt has best acquisition workforce ‘in the world’
Coalition: Wright-Patt has best acquisition workforce ‘in the world’

For the Dayton region, Wright-Patterson Air Force Base is the gift that keeps giving. Members of the Dayton Development Coalition Thursday celebrated the base’s designation as the “preferred location” for the F-35 Lighting II fighter Hybrid Product Support Integrator organization, making the base the support hub for F-35s worldwide...
More Stories