Post by dkennedy on Mar 23, 2007 6:14:55 GMT -5
Tweeter to Close 49 Stores
The retailer has been an early supporter of high-def DVDs.
March 23, 2007
By Phillip Swann, tvpredictions.com
Tweeter, the high-end electronics retailer, plans to close 49 stores in the next two months.
The company will close all stores in California, Tennessee, Alabama, New York and most in Georgia.
Tweeter has been an early supporter of High-Definition TVs and the new high-def DVDs. However, the retail industry has seen profits fall over the last year due to shrinking high-def prices.
Circuit City in February announced that it's closing 70 stores.
Tweeter says it will restructure the company, investing more heavily in its "Consumer Electronics Playground" stores, which offer Home Theater set-ups and even more elite equipment.
The company, which now has seven CEP outlets, will open two new ones in North Carolina this Fall. Tweeter says all new stores will be CEP.
Tweeter will have 104 stores nationwide after the closures.
“As we continue to face the challenges of our ever-changing industry, we do so with a renewed focus on the future of our brand and on our ability to deliver the ultimate consumer electronics shopping experience,” Joe McGuire, Tweeter's CEO said in a statement yesterday.
The retailer has been an early supporter of high-def DVDs.
March 23, 2007
By Phillip Swann, tvpredictions.com
Tweeter, the high-end electronics retailer, plans to close 49 stores in the next two months.
The company will close all stores in California, Tennessee, Alabama, New York and most in Georgia.
Tweeter has been an early supporter of High-Definition TVs and the new high-def DVDs. However, the retail industry has seen profits fall over the last year due to shrinking high-def prices.
Circuit City in February announced that it's closing 70 stores.
Tweeter says it will restructure the company, investing more heavily in its "Consumer Electronics Playground" stores, which offer Home Theater set-ups and even more elite equipment.
The company, which now has seven CEP outlets, will open two new ones in North Carolina this Fall. Tweeter says all new stores will be CEP.
Tweeter will have 104 stores nationwide after the closures.
“As we continue to face the challenges of our ever-changing industry, we do so with a renewed focus on the future of our brand and on our ability to deliver the ultimate consumer electronics shopping experience,” Joe McGuire, Tweeter's CEO said in a statement yesterday.
