Best Buy to phase out CDs, abandon them entirely by summer

Did you ever think you'd see a day where you could buy vinyl records but not CDs?

According to Billboard, that's what you'll find at Best Buy starting this July. The retailer reportedly plans to pull all CDs out of its stores by then.

The once commonplace digital music format is getting hammered in the U.S.

CD sales were down 18.5 percent last year and some experts pin Best Buy CD receipts to just $40 million annually. But there's an interesting twist. The store is committed to carrying records for the next two years.

The vinyl format has been enjoying a resurgence lately.

You're also likely to see fewer CDs at Target stores in the coming months.

Executives there are reportedly insisting they will only pay music companies for the discs after they sell them instead of paying upfront for inventory.