Best Buy shut another 10 stores this month (adding to the 24 it shuttered over the past year) - is YOURS affected?

Best Buy permanently closed ten stores this month - and now has 100 fewer shops than before the pandemic.

The ten all shut on March 2 and are in addition to another 24 the retailer shut during its fiscal year ending February 3.

The electronics giant is the latest this year to shut stores - or announce plans to do so. Walmart has shut three in 2024 and will shut another three in weeks. 

Meanwhile, Dollar Tree has announced plans to shut 1,000, Macy's has said it will cull 150 - a third of its total - and drug store Rite Aid is shuttering 77. 

Last year, major US chains including Target, CVS, Macy's and Rite Aid were behind nearly 3,000 stores closures in 2023.

(Scroll down for a full list of the ten Best Buy stores that closed) 

Closures were in New York, Minnesota, Utah, Illinois, Ohio, Colorado, Florida, Virginia, Missouri and New Jersey

Best Buy chief executive officer Corie Barry (pictured) said last year the company had shut 100 stores in the past five years and that closures would continue

Best Buy's store count is now down to about 950 in the United States - about 100 fewer than five years ago. 

Best Buy bosses said in an earnings call last month the electroics giant was not renewing some store leases in response to customers' changing shopping habits.

Closures were scattered across the country - in New York, Minnesota, Utah, Illinois, Ohio, Colorado, Florida, Virginia, Missouri and New Jersey.

'We will continue to close existing traditional stores during our rigorous review of stores as their leases come up for renewal,' said chief financial officer, Matt Bilunas.

He suggested that in the coming year, the retailer could close another five stores in addition to the most recent batch of ten.

The closures were accompanied by significant layoffs last year in order to 'rightsize' its operations.

Best Buy's fourth-quarter revenue fell by less than 1 percent to $14.6 billion, but comparable sales were down nearly 5 percent for the holiday quarter.

The company has been dealing with reduced demand for electronic goods - pariculary TVs, speakers and computers -  after the pandemic caused a spike in consumer spending.

Nonetheless, the most recent closures are part of an ongoing trend.

'Over the past five years, we have closed approximately 100 Best Buy stores, which is a 10 percent decline in store count during that timeframe,' chief executive officer Corie Barry told analysts on a conference call last fall.

Bilunas added during the most recent call that Best Buy plans to open some smaller format stores in the areas where larger stores are absent - either because they were closed or because they never existed.

'We are planning to open a few additional outlet centers and new formats to continue to test two important concepts,' he said.

Best Buy permanently closed ten stores across the US on March 2

'First, we will open small locations in a couple outstate markets where we have no prior physical presence,' he added.

'Second, we will test our ability to close a large-format store and open a small-format store nearby, thereby maximizing physical store retention through convenience.'

In January this year, Best Buy stopped selling DVDs and Blu-rays due to the shift in the way consumers are watching movies and TV shows.

The decision to end selling DVDs and Blu-ray in stores was made in October - but the sections were closed down after the holiday season.

The move leaves Walmart, Amazon and Target the main retailers that now stock the discs.