Best Buy to Close 50 Stores

Best Buy Co. (Minneapolis) will close 50 stores and open 100 smaller locations in the U.S. in an effort to cut costs by 2015, the Associated Press reports. The company has suffered falling stock prices and weak sales for TVs, digital cameras and videogames, as well as competition with e-retailers, including Amazon. The company has 1450 locations in the U.S. and 2900 globally.