Best Buy plans to open more outlet stores selling used and refurbished items as consumers pull back on buying new electronics
The electronics retailer is moving away from"a one-size-fits-all model" for its retail footprint. Its plan includes opening 10 outlet stores in the coming year and closing 20 to 30 of its larger-format locations, Best Buy CEO Corie Sue Barry said during a call with investors Thursday. The outlet stores,, allow customers to shop for open-box electronics and appliances.
The outlet stores are equipped to handle more repairs than a traditional Best Buy store as well, which means customers can bring in broken devices or appliances to be repaired by technicians. "We believe there is an opportunity for these to be growth vehicles in underserved urban neighborhoods, as well as small remote markets," Barry said.
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