Best Buy to close several stores. What’s that mean for Florida?

USA TODAY NETWORK - Florida

In a wave of store closures announcements and changes, another retailer has added their name to the list.

BestBuy expects to close 10 to 15 stores during its current fiscal year, according to a recent earnings call.

“As our ongoing practice, we will continue to close existing traditional stores during our rigorous review of stores as their leases come up for renewal. In fiscal '24, we closed 24 stores,” Chief Financial Officer Matt Bilunas said during the call last month said. “And in fiscal '25, we expect to close 10 to 15 stores.”

Why is Best Buy closing some stores?

The retailer is reportedly making a move to improve the customer experience. Instead of keeping larger stores open, the company is trying out flagship options to see if customers will gravitate towards those stores.

“We are planning to open a few additional outlet centers and new formats to continue to test two important concepts. First, we will open small locations in a couple outstate markets where we have no prior physical presence and our omnichannel sales penetration is low to measure our ability to capture untapped share,” Chief Executive Officer Corie Barry said.

Continuing, she said “Second, we will test our ability to close a large-format store and open a small-format store nearby, thereby maximizing physical store retention through convenience.”

Will Best Buy close any Florida stores?

Best Buy has not yet announced which locations will close.

At least two Best Buy stores closed this month, including a location in Colorado, according to the Denver Post, and a location in Minnesota, KSTP-TV reported. As for Florida, one of the most recent closures was a Jacksonville location in 2021.

How many Best Buys are in Florida?

According to the company's website, there are 1,050 stores within the United States. There are 65 Best Buy stores in Florida:

USA TODAY's Ahjané Forbes contributed to this article.