Best Buy Shrinking at Home, Growing in China

Best Buy has announced as part of its dismal quarterly earnings report that it's closing 50 of its 1,100 U.S. stores this year, while testing smaller tech support-centric "connected stores" in San Antonio and Minneapolis. As part of its restructuring, it will also lay off 400 corporate and support workers in order to slash $800 million in costs and turn around its struggling business model.