Circuit City closing.....

[lillygator]

here in Sarasota Fl.....yikes, what next?

 

[ConcKahuna]

Wow, yours is still open? The entire chain is going out of business, most of them were closed as of the first of the year.

 

[pr surfer]

They made their bed, now they have to lie in it.

A series of bad decisions led to this.

And to top it off, their "sale" prices are ghastly. I can still get better prices at Best Buy and any online retailer.

 

[lillygator]

I didn't realize that....so we've had:
CC
Waldenbooks
Old NAvy
Village Inn
Steak and Ale
Albertsons
Sweetbay
Toys R Us

 

[chisnpeke]

They all are

 

[pr surfer]

Old Navy and Toys R Us?!?!?

Those two stores are alive and well in many places. Not sure about the other ones.

 

[lillygator]

guess they just don't get business here.

 

[goin2disneyagain]

Old Navy and Toys R Us?!?!?

Those two stores are alive and well in many places. Not sure about the other ones.

Here too. Our local Toys R Us just relocated to a new and much nicer store in November. Old Navy is also thriving.

 

[ConcKahuna]

I didn't realize that....so we've had:
CC
Waldenbooks
Old NAvy
Village Inn
Steak and Ale
Albertsons
Sweetbay
Toys R Us

Lane Bryant
Timberland
and many others I cant remember right now.

 

[Luv2Roam]

Linens N Things also bit the dust.

 

[Goofycampers]

What no bail out?

 

[Piecey]

I think Circuit City is the only place around here that has closed so far... Or, is closing anyway..

 

[Cindy B]

Pizza Hut has closed up near me this past week. This location was around for over 20 years!

 

[bicker]

Circuit City closing

You may be interested in some of the other threads on this....

[THREAD]2061777[/THREAD]
[THREAD]2061962[/THREAD]
[THREAD]2062222[/THREAD]
[THREAD]2063949[/THREAD]

Some good insights into the liquidation sale, among those threads.

 

[bicker]

They made their bed, now they have to lie in it. A series of bad decisions led to this.

Not necessarily. I suspect that what we're seeing is the fact that there isn't enough of a market out there to support competition in the b&m retail electronics business. Too few people are willing to pay too little of a premium for the ability to see and touch and thereby understand what they're buying before they buy it.

I remember my last big purchase at CC -- I went in with my order form from an online retailer, showing how much I'd pay. (I actually had made the decision what to buy before even seeing it or touching it, but you get the idea.) I told the salesman to meet the price within $100 (for a $2200 television) or he wouldn't get the sale. The guy grumbled for a while (I think he ended up getting a few pennies of commission on the deal), but gave in.

That kind of thing leads to anemic sales's not enough to cover the added costs of rent on so many locations, transportation of stock around, etc.

What really did Circuit City in was the ascendancy of Amazon.com and its ilk. In just 1999 AMZN shot up from about $16 to $62 per share. That specific point in time was the beginning of the end for Circuit City, I believe. Up until the ascendancy of Amazon.com and its ilk, Circuit City actually did quite well, making generally good decisions. It is incredibly easy to have perfect hind-sight. I suspect that it is likely that short of basically buying (all of) Amazon.com when it was at $16, Circuit City was doomed as of Amazon.com's ascendancy, and no other decision (i.e., no decision other than buying or building Amazon.com in 1999) would have saved Circuit City.

And if you think that Best Buy disproves this, get back to me in five years and we'll go over how many B&M stores Best Buy still has, then. Indeed, I suspect the main reason why Best Buy is doing better than Circuit City is that they had the luck of deciding to go online sooner and stronger than Circuit City -- but it won't save B&M.

I just hope folks who complain about how poor the service they get from b&m stores understand that we did this to ourselves.

And to top it off, their "sale" prices are ghastly. I can still get better prices at Best Buy and any online retailer.

See some of those other threads, for discussions (I mentioned in the previous message) about the nature of liquidation sales.

 

[pr surfer]

See some of those other threads, for discussions (I mentioned in the previous message) about the nature of liquidation sales.

I've experienced them enough in the past 2 years to get the nature of the beast.

Liquidators start at MSRP, which is higher than street, and stat the discounts from there. Generally at 10% increments.