CC closing some stores

GZ · February 2005

While making dinner tonight I was listening to the local news on TV and heard that CC is going to close some of their stores. I think it was 19 across the country but I could be wrong. Dear daughter decided that was the right time to ask me a question so of course I didn't get to hear all the details. The newscaster said the stores would be closed tomorrow and reopen on Friday with close out prices. Anybody else hear anything? Somebody could pick up on a good bargain if they happen to call in 'sick' on Friday.

McLoki · February 2005

Circuit City said it plans to close four stores each in Michigan and Ohio; three stores in Illinois; two stores each in Texas and Indiana; and one each in Wisconsin, Kansas, Tennessee and Virginia.

A distribution center in Doswell, Va., will be shuttered, as will small regional offices in Miami, Dallas, Detroit, Charlotte, N.C., and Cincinnati, Ohio.

Michael

MacLeod · February 2005

That sucks.

I have loved Circuit City for about 20 years now. I remember going there to rent movies in the mid 80's. They had a little room, maybe 20x20 with maybe 100 titles. It was the only place in town to rent em.

Then once I could drive I went there all the time to drool over all the cool car audio gear.

Hell, I still go there at least 3 times a month to drool.

Even tho theyve gone downhill with hiring $5/hr, 17 yr old, 43 piercings, pants around the knees, know nothing at all kids, I still am pulling for them.

VR3 · February 2005

We have 6 circuit cities, all within 30 minutes of each other - they can close all they want. Wont be missed or desired.

Strong Bad · February 2005

Doesn't surprise me none. The ones here in Baltimore hardly ever have any customers in them whenever I stop by to check out things.

One of the main things with any retail business is location. If you'd look at the Baltimore locations of CC vs Best Buy, then BB has them beaten hands down. 2 CC stores in my general area are located in spots that are not easily spotted. One store is off the main street and in the back of a shopping center where it's very difficult to spot them.

The BB's are smack dab in the center of everything. Huge BB signs lit up just screaming..."I'm right here!!!" You can't miss them.

Too bad for CC.

John

Demiurge · February 2005

There closing a store in Brown Deer Wisconsin as well. It's right on my way too and from work, but I have a feeling there sending a lot of stuff back to the warehouses. It's not really a going out of business sale.

P.S. -

According to them it's part of a massive reorganization for them

And...I heard one of their private jets crashed today and like 4-7 people were killed.

shack · February 2005

Of course there is also a $3.25 Billion purchase offer from a group of investors that already owns 7% of the company. If CC agrees to the buyout the new investment group will take the co. private (no longer publicly traded). It's hard to tell if these moves are designed to make the co. more attractive to the buyer or if they are trying to streamline in order to not have to sell or if they were already planned because they are in trouble (which they are).

Demiurge · February 2005

Yeah, all the news reports I heard (since we're one of the areas affected) indicated that this wasn't really stores closing as a result of a lack of business. I mean...obviously these were most likely the weakest stores to an extent, but how many others were in the are also came into play. It didn't sound as if this was the death notice for CC. I could be wrong...I know how businesses like to spin things, but they are held accountable by their stock holders and I think one of their big holders sold a bunch of shares. (This is all stuff I heard on the radio....so pardon me if my facts are scant)

shack · February 2005

Don't believe the company's spin. They are in trouble. For the fiscal year ended in February 2004, Circuit City's sales fell 2 percent, to $9.75 billion, and it posted a loss of $89.3 million...even though overall U.S. electronics sales rose 2 percent. BB is killing them. You don't close 19 store generating $180 million in revenue, several regional offices, a distribution center and sell off a prime piece of corp real estate if you aren't struggling. Whether they are sold or not, expect more stores to close.

Demiurge · February 2005

Part of me is suprised and another isnt.

I used to shop BB all the time, but I can't stand them now. I've always found better service at CC, but maybe it's just me. I think BB has CCs number on CD and DVD sales which I think is the biggest attraction for both stores.

Toxis · February 2005

Thug, have you heard which store in KS is closing? I know the one in Topeka has already closed...

MSkeezer · February 2005

I'd like to know which stores in IL are closing, also...

Tomasz · February 2005

IL Closings:
Evergreen Park, Mount Prospect and Skokie

If you want to see if the one around you is closing you can go to the dealer locator. All of the closing CC store have been removed from the list.

swerve · February 2005

jeeze i'm glad i still have my job. our store isn't the best but we hang in there :mad:

-adam

hotwheelman · February 2005

I'm placing bets that the Tn. store is one of the two that are within a 20 min drive of me. I will have to go by the one that I suspect the most and see if I am right.

PhantomOG · February 2005

look here

Ron-P · February 2005

I see on CNN.com that one of their planes recently crashed killing all 8 on board.

Every Polk speaker I own I bought at CC.

CC closing some stores

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