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Best Buy will close 50 U.S. Stores

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Best Buy Co. announced Thursday that the company wants to close 50 big box stores and open 100 small mobile locations in the U.S.in fiscal year 2013, according to sources. 

Best Buy, one of the world’s largest electronics companies, reported a $1.7 billion loss for its fourth quarter ending March 3, compared with a year-earlier profit of $651 million.   

The company, which has currently more than 1,150 stores inU.S.and internationally, is concentrated on closing some stores and opening small Best Buy mobile locations. The world largest electronics company is trying to avoid the fate of its former rival Circuit City, according to sources. 

Best buy didn’t identify yet the stores slated for closing.   

“We will announce details about specific store locations and timing for closings once they are finalized,” said Best Buy. 

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