Best Buy closing 50 stores, including Edina location

EDINA – Retailer Best Buy is closing its Edina location as part of a company-wide consolidation.

The 26-year-old store, located just east of Southdale Mall on York Avenue, will be closed sometime this fall, company officials said.

It was immediately unclear how or when it would be marketed for re-use. The store was assessed in 2011 at $680,200. 

The move is part of an effort by the struggling retailer to cut $800 million in expenses by 2013. A total of 50 “big box” stores will be closed as part of the cost-saving effort, including locations in Brooklyn Center, Hutchinson, Lakeville and Rogers. 

The company, which has more than 1,400 locations will instead focus on smaller-format stores. The plan is to increase the number of those stores from 305 to as many as 800 by 2016.