Best Buy eyes smaller urban, suburban store formats
Best Buy is planning to add smaller urban and suburban store formats under incoming CEO Jason Bonfig as it reshapes its physical footprint to reach denser and underserved markets.[1]
Bonfig plans small stores of 12,000 to 15,000 square feet and mid-sized stores of 20,000 to 25,000 square feet.[1] He called the locations "purpose-built formats" rather than scaled-down big boxes and said they are aimed at denser urban markets and underserved suburban areas.[1]
Best Buy reported Q1 fiscal 2027 sales of $8.94 billion, up 2%. Profits were $276 million and adjusted earnings per share were $1.28. The new-store push comes as Bonfig prepares to take over as CEO.[1]
The move signals a strategic shift in Best Buy's brick-and-mortar approach as it seeks growth beyond traditional big-box stores.
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📌 Key Facts
- Best Buy reported Q1 fiscal 2027 sales of $8.94 billion, up 2%, with profits of $276 million and adjusted EPS of $1.28.
- Incoming CEO Jason Bonfig plans to add small stores of 12,000–15,000 square feet and mid-sized stores of 20,000–25,000 square feet.
- The new formats are aimed at denser urban markets and underserved suburban areas and are described by Bonfig as “purpose-built formats” rather than scaled-down big boxes.
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