Best Buy, a well-known electronics store, is planning to close all its stores nationwide. This move is part of a larger trend, with several big retailers marking a special day on the calendar by shutting their doors.
Best Buy to Close for Easter: What to Know
Best Buy has announced it will close all its stores in the US for Easter Sunday. This decision means that all 1,050 Best Buy locations will be shut on March 31, and customers won't be able to use curbside pickup either.
Best Buy often closes its doors on Easter, following a tradition.
While Best Buy takes a day off, many of its rivals will remain open. Walmart has declared its 4,618 stores will operate as usual on Easter Sunday. Home Depot plans to open, too, though some stores might have shorter hours.
Yet, Best Buy isn't alone in its decision to observe Easter Sunday by closing. Target will also shut all 1,956 of its stores for the day. Similarly, TJ Maxx will close its doors, joining Aldi and Costco in what's becoming a notable trend of Easter closures.
Costco will keep its 602 warehouse clubs closed alongside Sam's Club. Aldi, H-E-B, and Publix are other major retailers choosing to close for Easter Sunday, making this day quiet for some of the biggest names in retail.
Meanwhile, Aldi, a popular budget-friendly grocery store, shuts its doors on New Year's Day, Easter Sunday, Thanksgiving Day, and Christmas Day annually. Shoppers looking to snag deals at this German discount chain during the Easter weekend must plan. The stores will operate at their usual hours on Saturday, March 30, before closing for Easter.
This retailer is a go-to for over a third of grocery shoppers in the US, boasting more than 2,000 locations nationwide. With such a significant customer base, many will have to look elsewhere for their end-of-the-month shopping needs due to the holiday closure.
Also Read: Macy's Nationwide Shutdown: Every Store to Close Doors on Easter Sunday
Best Buy Closures: Temporary and Permanent Changes
While Best Buy has announced only a temporary closure of all its stores for one day, the company is also facing permanent shutdowns. In a recent earnings call, Best Buy revealed plans to permanently close 24 stores by the end of the current fiscal year in June. Looking ahead to fiscal year 2025, 10 to 15 stores are expected to close.
Chief Financial Officer Matt Bilunas shared that deciding to close stores is part of an ongoing process. "As leases come up for renewal, we conduct a rigorous review of our store locations. We've closed 24 stores this year, and we anticipate closing another 10 to 15 next fiscal year," he explained.
The strategy behind these closures is to enhance the shopping experience for Best Buy customers. The company is exploring new retail formats, including more minor flagship stores and outlet centers. These changes aim to attract more customers by offering more convenient shopping options.
CEO Corie Barry outlined the company's innovative approach: "We're opening smaller locations in markets we haven't reached before and testing the transition from large to small-format stores nearby. We aim to see if these new formats can capture more customer interest and maintain our store's convenience."
This shift reflects Best Buy's efforts to adapt to changing consumer preferences and the competitive retail landscape.
Related Article: Best Buy Announces Closure of 24 Stores Nationwide in Fiscal Year 2024: End of an Era for Electronics Fans
