Best Buy to Close Stores, Cut Costs

While Best Buy has not released whether the Glen Burnie store will close, it announced it will cut costs and close stores across the country. 

In an announcement, Best Buy Co. said it plans to close 50 U.S. big box stores and open 100 small mobile locations in the U.S. in fiscal 2013 and cut $800 million in costs by fiscal 2015. The news came Thursday as the biggest U.S. specialty electronics retailer posted a fiscal fourth quarter loss partly due to restructuring charges, according to a WBAL Radio.

Best Buy has changed its strategy to not compete with big box stores and is focusing on its Best Buy Mobile outlets because of two emerging trends: weakened sales of electronics and video games and strengthened sales of tablets, smartphones and e-readers, the WBAL Radio report said.

Whether the Glen Burnie store will close is unclear. There is a Best Buy Mobile shop already set up in .