Best Buy to close some stores across the US. Will Orlando be affected
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Another major national retailer announced it will close stores this year, creating the possibility for an additional shakeup of the retail real estate landscape in metro Orlando.
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During the recent fourth-quarter 2024 earnings call for Richfield, Minnesota-based Best Buy Co. Inc. (NYSE: BBY), CFO Matthew Bilunas indicated the electronics retail giant will close between 10-15 stores in the coming fiscal year — to follow the 24 stores it closed in fiscal 2024. “We will continue to close existing traditional stores during our rigorous review of stores as their leases come up for renewal.”
Also, within the call, CEO Corie Sue Barry indicated an emphasis on “refreshes” for existing stores, as well as the company’s intent to open more of its outlet centers — one of which is in metro Orlando, in Ocoee — and more of its new small-format stores.
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