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

Most popular blog postings on lowem.log :

1. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004
2. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
3. Singapore SIBOR rate falls to 1.31%, lowest since Nov 2004
4. Singapore SIBOR interest rates fall to 1.5%, lowest since Dec 2004
5. Live spot gold price quotes chart on COMEX
6. 2010 Honda Civic Hybrid preliminary specifications released
7. Fuel prices seen stoking Malaysia inflation in 2008
8. How to insert currency exchange rates into Google Spreadsheets

Featured articles on lowem.log :

1. ABC Guide to Beating Inflation in Singapore and Elsewhere
2. Singapore inflation rate hits new 26-year high of 7.5% in Apr 2008
3. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
4. 67000 China factories closed in H1 2008 as global economic collapse takes hold
5. 2010 Honda Civic Hybrid preliminary specifications released
6. Peakoiler buys 2008 Honda Civic Hybrid FD3
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004