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The Almighty Buck

Submission + - Compusa Worse off than Current Speculation

An anonymous reader writes: CompUSA is in Worse shape than they are letting on. What is known is that they are closing half of the US retail stores by the end of March. What is not commonly known is that CompUSA is going out of business, and intends to completely close by Christmas 2007.

It is a sad day, as CompUSA has been the springboard for many a technician to get into the industry.

The problem is complicated and will not be fixed as stated by CompUSA to the media thus far. Online retail has impacted the bottom line, but mismanagement, and lackluster decisions, as well as questionable business practices have made CompUSA a money-pit.

Employees of stores around the nation that have remained open have been warned that the store that they work at will be closed as well.

As quoted in Andy Patrizio's article 'Game Over For Retail', Brian Sozzi, research analyst for Wall Street Strategies, has this to say:

"They just haven't found that niche they can carve into. Why go to CompUSA when you can buy a computer and a TV at Best Buy?" he said. "I think it's just about the end for them. There's only so many stores you can cut for profits."

He doesn't know how right he is.

Reference Material:

CompUSA to close Portland stores
http://www.bizjournals.com/portland/stories/2007/0 2/26/daily46.html
Game Over For Retail, Or Just CompUSA? By Andy Patrizio
http://www.internetnews.com/bus-news/article.php/3 663466

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