Best Buy plans to convert its East Northport store to its first discount outlet in New York state, as the retailer works to reduce its footprint nationwide and diversify its store portfolio.
The retailer’s outlets sell clearance, open-box and refurbished electronics and appliances at up to 40% off, supporting “value-focused customers.”
“Best Buy Outlet stores have an expanded assortment of products and a Geek Squad area to get support on the latest tech,” said a spokesman for Best Buy Co. Inc., which is based in Richfield, Minnesota.
The East Northport store, located at 3124 Jericho Tpke. in the Huntington Square shopping center, will close temporarily March 2 to be remodeled as an outlet and reopen this summer, he said.
He did not respond to a Newsday inquiry about how many employees work at the store and whether any would be laid off.
(The store has an East Northport mailing address but it is actually in Elwood. Best Buy refers to it as its Commack store.)
Since 2022, Best Buy has opened five outlets, bringing the total to 22 in 16 states, including California, Minnesota, Texas and New Jersey, according to the retailer’s website.
Best Buy is opening outlets, which are being converted from existing regular stores or opened in new locations, partly because they boost profit on returned items, the retailer has said.
“These stores are driving a higher mix of new and reengaged customers, in addition to a better financial recovery on open box and return product. Over time, we believe we can also leverage these outlet locations to help our vendor community with their own open box and refurbished goods that are coming from other channels,” Best Buy Chief Executive Officer Corie Barry told analysts during an earnings call last March.
As more customers shift to online shopping, Best Buy has been closing some of its regular stores as their leases come up for renewal and opening smaller stores, finding that it needs less space to sell merchandise and more…
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