Snippet: Best Buy to Close Fifty Stores ☇

It seems that they are blaming lower margins on mobile devices, as opposed to, say, people moving away from physical media and finding cheaper products online or at Walmart/Target:

The report noted that the popularity of Apple’s iPad has contributed to Best Buy’s struggles, as the device carries “relatively low margins” for the retailer. As a result, its mobile computing sales business has seen “strained margins” of late.

Best Buy reported a loss of $1.7 billion for the quarter that concluded on March 3. It plans to remodel some of its key stores in what it calls a “Connected” format designed to sell smartphones and push video and broadband services.