“Best Buy warns of layoffs as it issues soft full-year guidance”
March 4, 2024
“…the retailer warned of another year of softer sales and said it would lay off workers and cut other costs across the business. CEO Corie Barry offered few specifics, but said the company has to make sure its workforce and stores match customers’ changing shopping habits. Cuts will free up capital to invest back into the business and in newer areas, such as artificial intelligence, she added… The retailer plans to close 10 to 15 stores this year after shuttering 24 in the past fiscal year…”
https://www.cnbc.com/2024/02/29/best-buy-bby-earnings-q4-2024.html