Thursday March 08, 2007

CompUSA closing more than 50% of stores

hardware.slashdot.org -> extremetech.com :

CompUSA, the computer and gadget retailer owned by Mexican billionaire Carlos Slim, said 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 it would close 126 of its stores and would receive a $440 million cash capital infusion. The company also said it would cut costs and restructure.

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.

(2007-03-08 20:10:10 SGT) [Biz] Permalink

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