Electronics Giant With 30+ Michigan Locations Plans to Close 10-15 US Stores

You'll find a Best Buy in nearly every major city in Michigan, but the electronics giant says it plans to shutter 10 to 15 US stores in the coming year.

Best Buy in Michigan

Best Buy currently has 31 Michigan stores with locations in every major city except Detroit. While there's no brick and mortar store in the Motor City itself, there are a few suburban locations like Madison Heights, Auburn Hills, Bloomfield, Westland, and others.

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At its peak, there were 1,779 Best Buy stores worldwide in 2014, with locations in all 50 US states. Although that number has shrunk to 1,125 in 2024, the big box store still has a footprint in all 50 states as well as DC and Puerto Rico.

Best Buy Closing Stores in 2024 and 2025

During a 2024 Q4 earnings call (transcript posted online), the company announced that due to current economic conditions the company would continue to look at closing Best Buy locations as their leases come up for renewal.

It's reported that Best Buy has closed (or is in the process of closing) 24 of its stores in 2024.

Matt Bilunas, the company's Chief Financial Officer also stated that Best Buy would close another 10 to 15 stores in 2025.

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

Published reports say the company has yet to disclose which stores could be shuttered in 2025.

Best Buy in the Future

Moving forward, the company says it plans to focus on opening smaller stores with more vibrant layouts.