Best Buy to downsize Stores
When it comes to retailing, big is not so beautiful anymore. Weak sales, online competition and changing consumer habits have big-box chains looking to downsize. Best Buy Co. is the latest merchant shedding space, in an initiative that stands out in both size and scope. The giant retailer, with 1,300 stores nationwide, is launching plans to wall off parts of its cavernous stores and sublease the space to smaller retailers, such as grocers, beauty supply stores, home furnishing outlets and others. Best Buy’s new stores will aim to be about 36,000 square feet — down from the current average of 45,000 square feet.