Best Buy getting rid of CDs in stores

Consumer

RICHFIELD, Minn. (KXAN) — Best Buy is planning to pull CDs from its stores beginning in July, amid a drop in sales in the U.S., according to a report.

The company told music suppliers it plans to remove CDs July 1, according to Billboard. CD sales across the U.S. decreased 18.5 percent last year, and Billboard reports while Best Buy used to be on top as far as music merchandising goes, it now generates about $40 million each year in CDs.

However, Best Buy will continue to carry vinyl.

Target is also changing up how it acquires CDs for its stores — wanting to pay music suppliers only for the products it sells, instead of paying upfront for inventory and shipping any extras back for credit.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Don't Miss