Over the last three years, the computer and electronics retailer has closed around 70 stores and expects to shutter between 20 to 30 more locations this year as well. The exact number hasn't been released, but the Twin Cities-based firm closed 17 stores across the country in March alone.

Best Buy reports a third of its business now takes place online, and the brand is likely to continue closing stores at a rate of 15 to 20 a year going forward. Other locations will be remodeled to have less space for the salesfloor and more for the stockroom to help fulfill online orders.