Best Buy, the nation's largest consumer electronics chain, is temporarily closing its stores and moving to curbside delivery service as it tries to curb the spread of the coronavirus.
Just last week, Best Buy had started to limit the number of customers in stores to only 10 to 15 at a time. Best Buy is joining thousands of other retailers, including iconic names like Macy's and Abercrombie & Fitch, that aren't viewed as essential, in temporarily closing its locations.
It is withdrawing its annual earnings guidance and says it's drawing the full amount of its $1.25 billion revolving credit line to shore up cash. The company has also suspended all share repurchases.