Lufkin Best Buy Store Will NOT be Closed
Best Buy has released the list of its under-performing stores that will be closed in the coming weeks, and you'll be glad to know the Lufkin store is NOT on the list. In fact, only two Texas stores are on the list -- one in Austin, the other in San Antonio.
Most listed locations will be closed by May 12; three additional locations are expected to close by late summer. This brings to 50 the number of Best Buy stores that will be closed by the end of this year.
Why is this happening? It's simple. Best Buy is trying to avoid the fate of Circuit City, which went out of business in 2009. It's facing slower sales of expensive items like high end TVs, plus increased competition from Amazon.com and discount stores like Target.