That's on top of the 24 stores the company plans to close this year.

Best Buy, like many major retailers, has had to downsize a lot amid shifting shopping habits by consumers. And now, it looks like they'll have to downsize a bit more.

"As our ongoing practice, we will continue to close existing traditional stores during our rigorous review of stores as their leases come up for renewal," company chief financial officer Matt Bilunas said. "In fiscal '24, we closed 24 stores. And in fiscal '25, we expect to close 10 to 15 stores."

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However, the company did not announce the locations for the planned closures. It currently operates more than 1,000 stores in the U.S., with more than a dozen across Louisiana and dozens more in Texas.

Best Buy used to be one of the top places to go to buy music, video games, and DVDs/Blu-Rays. It also sells appliances for the home, as well as televisions and other entertainment center items like stereos and game systems.

Best Buy's Popularity

Best Buy gained popularity due to its diverse selection of electronics and appliances, offering everything from the latest gadgets to home entertainment systems. The store's competitive pricing and frequent discounts attract budget-conscious shoppers seeking deals. Additionally, Best Buy's knowledgeable staff provides expert advice to help customers make informed decisions.

The in-store experience at Best Buy is interactive and immersive, allowing customers to test products, explore demos, and compare features before purchasing. Its robust online platform offers convenient shopping options like online ordering, in-store pickup, and home delivery.

Best Buy also provides various services, including installation, repair, and technical support, enhancing the overall customer experience and adding value. Over time, Best Buy has earned a strong reputation for reliability, quality, and customer service, building trust and loyalty among consumers.

Overall, Best Buy's combination of product selection, competitive pricing, knowledgeable staff, interactive in-store experience, online presence, services, and brand reputation has contributed to its popularity as a leading electronics and appliance retailer.

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