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Best Buy plans to close 10 to 15 stores by 2025 (www.usatoday.com)

submitted 3 months ago by Tyfud@lemmy.world to c/technology@lemmy.world

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[-] originalucifer@moist.catsweat.com 33 points 3 months ago* (last edited 3 months ago)

headline is somewhat wrong.. thats what they will close just in that year.. they are closing even more _this_year (+24)

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. In fiscal '24, we closed 24 stores,” Bilunas said. “And in fiscal '25, we expect to close 10 to 15 stores

[-] Veedem@lemmy.world 10 points 3 months ago

For Best Buy "Fiscal '24' is February 2023 to January 2024

Fiscal '25 is February 2024 to January 2025.

It's dumb, I know.

[-] CraigeryTheKid@lemm.ee 6 points 3 months ago

as a retailer, might make a lot of sense not trying to close the books every year within a week of Christmas?; OR to prevent all the accountants from working overtime in that period?

my company's FY is June-May

[-] Patches@sh.itjust.works 1 points 3 months ago

It's definitely not for over time LMAO. Corporate ain't give a shit bout that.

It's so that they can close with the Christmas rush.

[-] originalucifer@moist.catsweat.com 1 points 3 months ago

makes sense, thanks!

[-] kirklennon@kbin.social 5 points 3 months ago* (last edited 3 months ago)

The headline is right. Even if you don't know Best Buy's fiscal year, the tenses used in the quote makes it clear that they already closed 24 stores. Best Buy's 2024 fiscal year ended on February 3, 2024. They plan to close 10 to 15 more by roughly one month into 2025, so not literally "by 2025" but close enough.

this post was submitted on 22 Mar 2024

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