Local Residents Weigh In on the Closing of Best Buy

Minnesota-based Best Buy gave the locations Saturday of the 50 stores nationwide that will be closing and the Loganville, Ga. store was one of those on the chopping block.

“This morning, we have confirmed the remaining 42 store locations [out of 50] that will close,” Best Buy said in a news release April 14 (attached as PDF). … Employees of these 42 stores have been notified this morning. We chose these stores carefully, and are working to ensure the impact to our employees will be as minimal as possible, while serving all customers in a convenient and satisfying way. But we also recognize the impact this news has on the people who deserve respect for the contributions they have made to our business.”

Loganville Mayor Ray Nunley said he was "obviously not happy" to hear the news.

"I didn't hear about it until Saturday afternoon and we will obviously try and fill that space, but I still have to find out more about it before I can really say anything," Nunley said.

Residents were quick to weigh in on the story that ran in Patch as well as on the Facebook page.

"I'm very sorry to see this store close," Linda Steele commented. "It is so convenient to where I live and I have purchased a number of things there including flat screen televisions, computers, tons of movies, wii, etc. Unfortunately, I will probably start buying my electronics and movies elsewhere. It's too inconvenient to drive to Snellville."

"Another empty big box anchor retail location that will be sitting empty. Not good for Loganville," Kevin Shields, wrote on Facebook, adding "That would be a good location for a grocery store like Whole Foods."

Others weighed in with suggestions on what they would like to fill the space. Suggestions included Trader Joe's, Aldi, The Fresh Market, Bed, Bath and Beyond, TJ Maxx/Marshall's, Target or Kohls. But Jonathan Delacruz pointed out that much as he too would like to see some of those stores locate in Loganville, making it happen would not be that easy.

"Its going to be very difficult for many of the retailers mentioned to be able to be placed in Loganville at the current time. TJ Maxx is in the process of opening up a location in Bethlehem in the Barrow Commons shopping center, which may pull people from Loganville out that way," he wrote. "They've also opened a brand new movie theater and the Target over there still has plenty of room for growth. We will see how this all pans out."

Others expressed concern for the employees of the Loganville Best Buy who might now be out of a job. The company, however, has said it will be working to help affected employees find other positions inside Best Buy.

“If they don’t find new positions, or if they choose not to work at a different location, a transition including severance packages will be available,” the company said in the press release. “We expect most of these stores will permanently close by May 12.”

of its U.S. big box stores and laying off 400 employees at corporate and support levels. But at that time no locations were given.

That news came after the company based in Richfield, MN, released its fiscal year fourth-quarter earnings, showing a $1.7 billion loss in revenue. In addition, the Global Post reported the company aims to open 50 stores in China by 2013.

The news of closures and downed profits are not a surprise to many, as Best Buy reported shortfalls after its third quarter in 2011 as well.

In January 2012, and also suggested it was getting closer and closer to bankruptcy every day.

Going forward, Best Buy's retail store strategy is to increase points of presence, while decreasing overall square footage. Based on results from store pilots conducted in 2010 and 2011, Best Buy will be deploying "at-scale" market tests of its new Connected Store format in the Twin Cities and San Antonio metro areas.

The store remodels are expected to be completed before the 2012 holiday season. Connected Stores are remodeled big box stores that focus on connections, services and multi-channel experience through a total transformation of both the store and the operating environment.

The company expects total big box square footage in these combined test markets to be reduced by almost 20 percent through store downsizing and closures, while points of presence will increase by more than 20 percent.

"These changes will also help lower our overall cost structure," CEO of Best Buy Brian J. Dunn said in the release. "We intend to invest some of these cost savings into offering new and improved customer experiences and competitive prices—which will help drive revenue. And, over time, we expect some of the savings will fall to the bottom line."