It’s no secret that Best Buy is in trouble. The company has been losing money for years, and its share price has fallen sharply. But is Best Buy still in business?
The answer is yes.. for now. Best Buy is still the largest electronics retailer in the United States, and it continues to generate billions of dollars in revenue each year. However, the company is facing stiff competition from online retailers such as Amazon, and its future is far from certain.
Best Buy’s troubles began in 2012, when it announced a major restructuring plan that involved closing 50 stores and laying off 2,000 employees. The company’s same-store sales have fallen for eight consecutive quarters, and its share price has plunged more than 60 percent since 2012. In March of this year, Best Buy announced plans to close another 150 stores worldwide.
So is Best Buy still in business? Yes. but it’s far from clear how much longer it will stay that way.
