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Best Buy closures bypass Nevada
by Tribune Staff
Apr 16, 2012 | 1326 views | 0 0 comments | 5 5 recommendations | email to a friend | print
Tribune File - The Best Buy store at Outlets at Legends in Sparks is not on the list of stores the electronics retailer plans to close by May.
Tribune File - The Best Buy store at Outlets at Legends in Sparks is not on the list of stores the electronics retailer plans to close by May.
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SPARKS — Nevada dodged a job-loss bullet over the weekend, as electronics retailer Best Buy released the list of stores it will close in an attempt to improve overall performance.

Company officials said at the end of March that stores would be closing, but no specifics were given at the time. On Saturday, the Wall Street Journal published a list of stores slated for closure. No Nevada stores were on the list. Most of the stores will close by May 12, the article said.

Best Buy has 1,450 locations nationwide and 2,900 globally.

“Sales of TVs, digital camera and video game consoles have weakened, while sales of tablet computers, smartphones and e-readers have increased,” Best Buy CEO Brian J. Dunn said in a press release. “And with the rise of competition from Internet rivals like Amazon.com, shoppers aren’t flocking to big-box stores like they used to.”

Best Buy at the Outlets at Legends opened at the end of February 2009. The 30,000 square feet of retail space is the same size as the store in Spanish Springs and both are smaller than the store on South Virginia Street in Reno.

A March 29 investor release reported a net loss for the company of $1.7 billion, or $4.89 per share for its fourth quarter, which ended March 3, compared to a net income of $651 million.
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