| OT: computer news - Look for possible deals locally... [message #81159] |
Sun, 04 March 2007 21:33  |
Aaron Allen
Messages: 1988
Registered: May 2008
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Senior Member |
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I remember when these guys bought Computer City from Radio Shack here and
crushed employees that didn't take cuts/losses to keep their already crappy
jobs.
Guess what comes around, 'eh?
------------------------------------------------------------ -
CompUSA Closing More Than 50% of Stores
By Reuters
NEW YORK, Feb 27 (Reuters) - CompUSA, the computer and gadget retailer owned
by Mexican billionaire Carlos Slim, said on Tuesday it would close more than
half of its U.S. retail locations over the next two to three months to focus
on top performing locations.
CompUSA said in a statement it would close 126 of its stores and would
receive a $440 million cash capital infusion, but it was not specific as to
the source of the cash. The company also said it would cut costs and
restructure.
The company operates 225 stores, which its Web site says are located in the
United States and Puerto Rico.
"Based on changing conditions in the consumer retail electronics markets,
the company identified the need to close and sell stores with low
performance or nonstrategic, old store layouts and locations faced with
market saturation," Roman Ross, chief executive officer of CompUSA, said in
the statement.
"The process began last week with the closing of four CompUSA stores and
over the next 60-90 days, the company will close a total of 126 stores in
the United States to focus on initiative that enhance its top performing
locations ."
On Monday, CompUSA said it would close two stores in California, one in
Texas and one in Illinois. CompUSA said it was trying to streamline
operations and bolster margins at top-performing stores.
Last September, an official from Slim's conglomerate Grupo Carso told
Reuters that Slim, the third-richest man in the world, was considering
selling the loss-making business.
Intense gross margin pressure, especially in the flat panel television
category, has plagued others in this sector, contributing to Circuit City
Stores Inc.'s announcement earlier this month that it was closing 70 stores.
CompUSA competes with Best Buy and Circuit City.
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| Re: OT: computer news - Look for possible deals locally... [message #81166 is a reply to message #81159] |
Mon, 05 March 2007 08:03  |
excelav
Messages: 2130
Registered: July 2005
Location: Metro Detroit
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Senior Member |
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Wow that sucks! I know a couple of guys that will be losing their jobs.
This Carlos Slim sounds like a real smart guy, but knowing how corrupt countries
south of the border are, I think he may be the real slim shady.
"Aaron Allen" <know-spam@not_here.dude> wrote:
>I remember when these guys bought Computer City from Radio Shack here and
>crushed employees that didn't take cuts/losses to keep their already crappy
>jobs.
>Guess what comes around, 'eh?
> ------------------------------------------------------------ -
>CompUSA Closing More Than 50% of Stores
>
>By Reuters
>NEW YORK, Feb 27 (Reuters) - CompUSA, the computer and gadget retailer owned
>by Mexican billionaire Carlos Slim, said on Tuesday it would close more
than
>half of its U.S. retail locations over the next two to three months to focus
>on top performing locations.
>CompUSA said in a statement it would close 126 of its stores and would
>receive a $440 million cash capital infusion, but it was not specific as
to
>the source of the cash. The company also said it would cut costs and
>restructure.
>The company operates 225 stores, which its Web site says are located in
the
>United States and Puerto Rico.
>"Based on changing conditions in the consumer retail electronics markets,
>the company identified the need to close and sell stores with low
>performance or nonstrategic, old store layouts and locations faced with
>market saturation," Roman Ross, chief executive officer of CompUSA, said
in
>the statement.
>"The process began last week with the closing of four CompUSA stores and
>over the next 60-90 days, the company will close a total of 126 stores in
>the United States to focus on initiative that enhance its top performing
>locations ."
>On Monday, CompUSA said it would close two stores in California, one in
>Texas and one in Illinois. CompUSA said it was trying to streamline
>operations and bolster margins at top-performing stores.
>Last September, an official from Slim's conglomerate Grupo Carso told
>Reuters that Slim, the third-richest man in the world, was considering
>selling the loss-making business.
>Intense gross margin pressure, especially in the flat panel television
>category, has plagued others in this sector, contributing to Circuit City
>Stores Inc.'s announcement earlier this month that it was closing 70 stores.
>CompUSA competes with Best Buy and Circuit City.
>
>
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