Best Buy to Sublet Store Space to Smaller Retailers

Best Buy CEO Brian Dunn said this week that the electronics retailer is launching plans to wall off parts of its big-box stores and sublease the space to smaller retailers such as grocers, beauty supply stores, home furnishing outlets and others. According to a Thursday report in the Los Angeles Times, Dunn said at the company’s annual shareholder’s meeting that the chain can “reduce our overall square footage while actually increasing our presence. It's an opportunity to capture cost savings and get ourselves 'rightsize,'" he said.