Goodbye Circuit City
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Goodbye Circuit City
I'm leaning toward it not making it through the holiday season this year. Unless it can somehow pull in miraculous numbers over the other big names like "Best Buy", which is doubtful since it's never been known to offer better deals, at least not in my area, and that's going to be crucial for those shoppers trying to make the most of their buying dollar this year.
Which other large names will be taking the Yellow Brick Road this year?
Which other large names will be taking the Yellow Brick Road this year?
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Inama ASSOC:: 'though it may suit your fantasies to think so, i don't need oil for anything.'
Haley: Filthy lucre? I wash that lucre every day until it SHINES!
Re: Goodbye Circuit City
Hrm, I'm not sure Circuit City will fold as a company because of one seasonal profit loss -- look at K-mart. I'd imagine, at the worst, it will get bought out and restructured. But, then again, I'm not too learned in the area of corperate business, so my opinion is very uninformed...
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Re: Goodbye Circuit City
I don't follow retail very well, but I'd say that several boutique clothing retailers will not make it unless they cut prices and profits big. I'd expect a rash of bankrupticies in January and February.
I think companies that specialize in consumer appliances (TV, refrigerators, ect) may be at high risk. Consumer electronics as well, but I'm struggling with a name that could actually fail rather than just have an abysmal year. Circuit City died 4-5 years ago imo so I don't really count it.
I'm imagining that DVD and CD sales may actually improve temporarily (especially if they cut prices) as people look for cheap "family" gifts.
I think companies that specialize in consumer appliances (TV, refrigerators, ect) may be at high risk. Consumer electronics as well, but I'm struggling with a name that could actually fail rather than just have an abysmal year. Circuit City died 4-5 years ago imo so I don't really count it.
I'm imagining that DVD and CD sales may actually improve temporarily (especially if they cut prices) as people look for cheap "family" gifts.
Re: Goodbye Circuit City
Nice insight on that last line, Kiryan. I just heard on the way home that Circuit City just filed for bankruptcy protection. What exactly does that do, and does this do anything on anyone's projection of the outcome of Circuit City?
Fotex group-says 'Behold! penis!'
Kifle puts on his robe and wizard hat.
Thalidyrr tells you 'Yeah, you know, getting it like a jackhammer wears you out.'
Teflor "You can beat a tank with a shovel!!1!1!!one!!1!uno!!"
Kifle puts on his robe and wizard hat.
Thalidyrr tells you 'Yeah, you know, getting it like a jackhammer wears you out.'
Teflor "You can beat a tank with a shovel!!1!1!!one!!1!uno!!"
Re: Goodbye Circuit City
Circuit City filed chapter 11 today. While that doesn't necessarily mean closing... they're fucking gone, man. They've got the same liquidators that handled CompUSA working in 150 of their stores.
Tweeter closed up shop this month also.
Tweeter closed up shop this month also.
- Ragorn
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Re: Goodbye Circuit City
http://online.wsj.com/article/SB122636691864515981.html
about clothing boutique shops and a little about how designers share the burden.
Circuit city hasn't been competitive for a long while and I don't see how bankruptcy can do anything but make it worse by putting it farther out of customers and continuously dimishing name recognition. Also, bankruptcies rely on getting bankruptcy financing to cover costs while they retool the business. Bankruptcy financing is very hard to come by right now. GE finance, one of the leaders, recently completely stopped bankruptcy lending stating that it was too volatile right now.
I'm thinking that commercial real estate... the kind that own malls and lease out retail space, are probably going to be feeling it by Q2 next year. Retail leases often involve cutting the building owner in for a certain % of sales. Besides the loss there on this holiday season, businesses are going to be looking to reduce their rent and some are going to close.
about clothing boutique shops and a little about how designers share the burden.
Circuit city hasn't been competitive for a long while and I don't see how bankruptcy can do anything but make it worse by putting it farther out of customers and continuously dimishing name recognition. Also, bankruptcies rely on getting bankruptcy financing to cover costs while they retool the business. Bankruptcy financing is very hard to come by right now. GE finance, one of the leaders, recently completely stopped bankruptcy lending stating that it was too volatile right now.
I'm thinking that commercial real estate... the kind that own malls and lease out retail space, are probably going to be feeling it by Q2 next year. Retail leases often involve cutting the building owner in for a certain % of sales. Besides the loss there on this holiday season, businesses are going to be looking to reduce their rent and some are going to close.
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Re: Goodbye Circuit City
Infrastructure spending is probably a good bet too. Roads, bridges, transportation, energy grids ect...
State and Federal government is going to try and spend its way out of a recession and job losses and it certainly doesn't hurt that there are large union presences in all these industries.
I think groceries will do better and restaurants will do worse, but thats just obvious stuff.
State and Federal government is going to try and spend its way out of a recession and job losses and it certainly doesn't hurt that there are large union presences in all these industries.
I think groceries will do better and restaurants will do worse, but thats just obvious stuff.
Re: Goodbye Circuit City
on topic of kiryan's post, I wonder what's going to happen to the music stores. it seems like digital is the new way of music but everyone doesn't have a computer so I wonder if another format will come out. Probably not, as i'd assume cd sales are abyssmal at the moment.
I used to work in a local mom and pop record store and we had to shut down because the sales were just.. not good, it was sad. Music stores are going the way of the dodo.
I used to work in a local mom and pop record store and we had to shut down because the sales were just.. not good, it was sad. Music stores are going the way of the dodo.
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Re: Goodbye Circuit City
Best Buy warned from a 2-3% gain to a 1-8% decline vs last year. I didn't expect that.
I figured their sales would be down, but would hold up better than high margin clothing type purchases. They actually have nice stores and decent product as compared to circuit city which had cheap products, crappy service and their stores are not very appealing aesthetically.
Is CompUSA still in business? I'd guess they'd have a rough 3 months ahead of them as well.
I figured their sales would be down, but would hold up better than high margin clothing type purchases. They actually have nice stores and decent product as compared to circuit city which had cheap products, crappy service and their stores are not very appealing aesthetically.
Is CompUSA still in business? I'd guess they'd have a rough 3 months ahead of them as well.
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Re: Goodbye Circuit City
well you know Sony and Toshiba were duking it out for the next DVD standard... (hd vs bluray)... the analysts were happy that a standard had been agreed upon, but they still not sure whether there is a future for disc based entertainment period audio or video.
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Re: Goodbye Circuit City
http://articles.moneycentral.msn.com/In ... 11208.aspx
mall operator warning about possible bankruptcy.
mall operator warning about possible bankruptcy.
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Re: Goodbye Circuit City
kiryan wrote:well you know Sony and Toshiba were duking it out for the next DVD standard... (hd vs bluray)... the analysts were happy that a standard had been agreed upon, but they still not sure whether there is a future for disc based entertainment period audio or video.
As long as US network infrastructure remains globally substandard, physical media will persist.
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Re: Goodbye Circuit City
I'll agree to some degree on the infrastructure, but I'll also throw in that there is a "critical mass" at which physical media is no longer a viable business and will not receive investment in new standards, new players ect ect ect...
The slow adoption of BluRay is a case in point even if you give substantial weight to the uncertainty over which format would win...
The slow adoption of BluRay is a case in point even if you give substantial weight to the uncertainty over which format would win...
Re: Goodbye Circuit City
kiryan wrote:The slow adoption of BluRay is a case in point even if you give substantial weight to the uncertainty over which format would win...
I think there are more factors that should be looked at discussing this slow adoption: two of these being the most important. The first is the failing economy. With little disposable income, and no forseeable increase in the near future, for most families, the enormous pricetag on the players alone is a detraction to the utility of the media. Secondarily, the necessary peripherals one must add to take advantage of the benefits of BluRay over DvD are also expensive -- HDTV.
As it stands now, there is little utility in BluRay for the average consumer -- despite its benefits. It's just not cost-effective to switch over until the market forces it through limiting or halting the supply of the current (yet dated) technology.
Fotex group-says 'Behold! penis!'
Kifle puts on his robe and wizard hat.
Thalidyrr tells you 'Yeah, you know, getting it like a jackhammer wears you out.'
Teflor "You can beat a tank with a shovel!!1!1!!one!!1!uno!!"
Kifle puts on his robe and wizard hat.
Thalidyrr tells you 'Yeah, you know, getting it like a jackhammer wears you out.'
Teflor "You can beat a tank with a shovel!!1!1!!one!!1!uno!!"
Re: Goodbye Circuit City
So who are the next ones in line?
Gormal tells you 'im a dwarven onion'
Gormal tells you 'always another beer-soaked layer'
Inama ASSOC:: 'though it may suit your fantasies to think so, i don't need oil for anything.'
Haley: Filthy lucre? I wash that lucre every day until it SHINES!
Gormal tells you 'always another beer-soaked layer'
Inama ASSOC:: 'though it may suit your fantasies to think so, i don't need oil for anything.'
Haley: Filthy lucre? I wash that lucre every day until it SHINES!
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Re: Goodbye Circuit City
kiryan wrote:I'll agree to some degree on the infrastructure, but I'll also throw in that there is a "critical mass" at which physical media is no longer a viable business and will not receive investment in new standards, new players ect ect ect...
The slow adoption of BluRay is a case in point even if you give substantial weight to the uncertainty over which format would win...
BD's adoption rate is much higher than DVD's was at ~2 years. As a format, it's doing fine.
Thus spake Shevarash: "Invokers are not going to be removed"
Gura: ..btw, being a dick is my god given right as an evil.
Gura: ..btw, being a dick is my god given right as an evil.
Re: Goodbye Circuit City
omg its a xisilive!
Re: Goodbye Circuit City
Anyone who even thinks that blue-ray isn't the new standard is just kidding themselves. Sony wants blue-ray, so blue-ray we shall have.
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Re: Goodbye Circuit City
WTS a slightly used beta player, laserdisc player and HD player. Man, my luck with format wars so far is frelling terrible.
How to go from Waelos to Weylarii.
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Re: Goodbye Circuit City
wow thats some mad skills right there, how do you feel about the zune? =)
we had betamax, but i wasn't dumb enough to buy into laserdisc or HD.
we had betamax, but i wasn't dumb enough to buy into laserdisc or HD.
Re: Goodbye Circuit City
Went to Circuit City today to see the deals.
All the hard drives are GONE in the store I went to. There are still quite a few TVs. Cell phones are scarce. Most everything is 10% off - except for Apple stuff. Cables are 30% off. There was a section on clearance which was stuff I didn't need. They had some good deals on "open box" merchandise, such as laptops, etc. One of the laptops looked like it was "open box" for about 2 years as the AMD sticker was faded.
As it is now, that 10% basically makes everything tax-free - give or take a few bucks depending on locale.
I'm personally waiting on 30% or more on stuff...
All the hard drives are GONE in the store I went to. There are still quite a few TVs. Cell phones are scarce. Most everything is 10% off - except for Apple stuff. Cables are 30% off. There was a section on clearance which was stuff I didn't need. They had some good deals on "open box" merchandise, such as laptops, etc. One of the laptops looked like it was "open box" for about 2 years as the AMD sticker was faded.
As it is now, that 10% basically makes everything tax-free - give or take a few bucks depending on locale.
I'm personally waiting on 30% or more on stuff...
Re: Goodbye Circuit City
The liquidation sales usually aren't very good. Too many people think they are getting great deals. You can find much better deals on places like fatwallet.com without having to wait for the retailer to go out of business.
That being said, I took the time today to read the corporate history of CC on its investor page. Kind of sad to see how a store grows from a mom and pop enterprise into a multi-billion dollar retailer employing thousands.. and then gets managed into the ground by the people who took over after the original founder and family leave. Businesses are amazing things for all involved. Employees earning an honest paycheck. Consumers getting goods or services they require. Its no small job to build something like CC had.. and its sad to see it all get torn down.
I guess its more opportunity for the next mom and pop enterprise..
That being said, I took the time today to read the corporate history of CC on its investor page. Kind of sad to see how a store grows from a mom and pop enterprise into a multi-billion dollar retailer employing thousands.. and then gets managed into the ground by the people who took over after the original founder and family leave. Businesses are amazing things for all involved. Employees earning an honest paycheck. Consumers getting goods or services they require. Its no small job to build something like CC had.. and its sad to see it all get torn down.
I guess its more opportunity for the next mom and pop enterprise..
Having said all that, the situation has been handled, so this thread is pretty much at an end. -Kossuth
Goddamned slippery mage.
Goddamned slippery mage.
Re: Goodbye Circuit City
Corth wrote:The liquidation sales usually aren't very good. Too many people think they are getting great deals. You can find much better deals on places like fatwallet.com without having to wait for the retailer to go out of business.
That being said, I took the time today to read the corporate history of CC on its investor page. Kind of sad to see how a store grows from a mom and pop enterprise into a multi-billion dollar retailer employing thousands.. and then gets managed into the ground by the people who took over after the original founder and family leave. Businesses are amazing things for all involved. Employees earning an honest paycheck. Consumers getting goods or services they require. Its no small job to build something like CC had.. and its sad to see it all get torn down.
I guess its more opportunity for the next mom and pop enterprise..
How much did the new management get paid to destroy the company, just because they were "worth it?"
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Re: Goodbye Circuit City
Raiwen wrote:As it is now, that 10% basically makes everything tax-free - give or take a few bucks depending on locale.
I'm personally waiting on 30% or more on stuff...
And you can't return/exchange it if it's defective.
- Ragorn
Shar: Leave the moaning to the people who have real issues to moan about like rangers or newbies.
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Shar: Leave the moaning to the people who have real issues to moan about like rangers or newbies.
Corth: Go ask out a chick that doesn't wiggle her poon in people's faces for a living.
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