Richfield Best Buy Store to Be Downsized; Ulta Moving In

, Richfield-based Best Buy will also downsize many remaining stores as part of its new "Connected Stores" format.

The Richfield location and the Shops at Lyndale is one of the stores slated for the change. The Minneapolis/St. Paul Business Journal reported beauty retailer, . A exact date for the move wasn't given.

The "Connected Stores" model is a redesign of the company's current big-box concept. Stores, like Richfield's, will be trimmed down and focus on portable electronics—such as tablets and e-readers—and feature a central knowledge desk where people can get things like wireless plans for cell phones. According to NPR, these services, along with warrantee sales, are major money makers for the company.

Spokeswoman Kelly Groehler confirmed that the retailer already has begun work to renovate the Richfield store, but declined to comment on the company's plans for its other remaining Minnesota stores, according to the business journal. .

The space reduction that Ulta will take over is roughly 20 percent of the existing store's space; both stores have signed new 10-year leases at the Richfield shopping mall.

The local company has had a tough year so far with downed profits, and being named one of .

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