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Best Buy closing 50 big box stores

11:06 AM, March 29, 2012

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Best Buy store in West St. Paul, Minn. (MPR Photo/Nikki Tundel)

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Best Buy today reported a net loss of $1.7 billion for its fourth quarter ended March 3, 2012 compared to net income of $651 million for the same period a year ago. The struggling consumer electronics retailer also announced an $800 million cost-cutting program that includes closing 50 big box stores, and cutting 400 positions in corporate and support areas.

We'll talk with Roben Farzad, senior writer for Bloomberg Businessweek.

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