RICHFIELD, Minn. - Best Buy is closing two stores in Blaine and Inver Grove Heights.
The Richfield-based company said it will not renew the leases at the locations, which will close Oct. 28.
"Nearly all our stores are profitable and closing them is not a part of our strategy. As we have said for years, we will gradually refine our store footprint when leases come up for renewal and when it makes business sense," said Jeff Shelman, Best Buy's Senior Director of External Communications. "It’s never an easy decision and it has no reflection on the hard work our store teams have done."
Shelman expects many of the employees will be able to find positions at other Twin Cities stores. Those who don’t will be provided severance.
"The pace of these occasional closures has not materially changed over the past several years and is not likely to," he added. Shelman said the company is investing in its neighboring Coon Rapids and Oakdale locations.
Shelman added Best Buy has not closed stores en masse link many other retailers and the company had a strong start to the fiscal year exceeding Wall Street expectations.