Best Buy To Close Stores, Shift To Smaller Model Size

The world's largest consumer-electronics retailer, Best Buy, says it will be closing 50 of its big-box stores this year in the U.S. in an effort to reduce costs.

The Minnesota-based company announced Thursday it is closing big-box stores and cutting jobs to reduce costs while boosting online sales and opening 100 smaller formatted stores.

No word yet on which Best Buy stores will be closed.

There are 12 Best Buy big box stores in Oklahoma and 3 Best Buy Mobile Specialty Stores in Tulsa, Oklahoma City and Lawton.

Oklahoma store locations:

• Tulsa [3]
• Oklahoma City [3]
• Norman [1]
• Moore [1]
• Stillwater [1]
• Muskogee [1]
• Owasso [1]
• Midwest City [1]

Best Buy says the planned cost cuts total $800 million over the next three years, including $250 million this year.