Best Buy to cut costs and close stores

Best Buy has announced that the company is scaling back to cut its losses, but has not said if any of its Long Island stores

WOODBURY - Best Buy has announced that the company is scaling back to cut its losses, but has not said if any of its Long Island stores will be affected.

Best Buy operates about a dozen stores on Long Island.

The electronic retail giant says it will close 50 big box stores in the United States and open 100 smaller "mobile" stores in 2013.

According to the company, sales of big-screen televisions and game consoles are down, while sales of mobile tablets, e-readers and smart phones have increased.

The chain hopes to cut $800 million in costs by 2015.

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