Tweeter To Close 49 Locations

Discussion in 'OT Technology' started by Ronin, Mar 31, 2007.

  1. Ronin

    Ronin Guest

    [FONT=Arial,Helvetica,Geneva,Swiss,SunSans-Regular]title:[/FONT] [FONT=Arial,Helvetica,Geneva,Swiss,SunSans-Regular]Tweeter To Close 49 Locations[/FONT] [FONT=Arial,Helvetica,Geneva,Swiss,SunSans-Regular]date:[/FONT] [FONT=Arial,Helvetica,Geneva,Swiss,SunSans-Regular]March 26, 2007[/FONT] [FONT=Arial,Helvetica,Geneva,Swiss,SunSans-Regular]by:[/FONT] [FONT=Arial,Helvetica,Geneva,Swiss,SunSans-Regular]Jerry Del Colliano[/FONT]

    Mid to high-end retailer Tweeter has announced that they are closing 49 additional stores and laying off as many as 650 of its employees in an effort to restructure the company. These cuts come as Tweeter stock dropped from all-time highs near $40 per share to their current price of just above $1.30.

    Ironically, the home theater business has never grown more aggressively having been powered by low-cost flat HDTVs and a healthy real estate market that allowed consumers to borrow from their home’s equity to invest in new HDTVs, surround sound, home automation and beyond. With the home market settling back down to reality in most parts of the country and margins on thin HDTVs too thin to keep doors open – Tweeter is forced to take action.

    find the rest @: http://www.avrev.com/news/0307/26.tweeter036.shtml
     
  2. ngsm13

    ngsm13 New Member

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  3. slod16

    slod16 New Member

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    Yeah it sucks, i used to work for them and I was trying to get back on with them and take over the car audio management position and the gm told me they should be totally closed within 2 months. It sucks b/c they are really the only store here that sells "good" equipment.
     
  4. Zeromancer

    Zeromancer Pampita's Love Slave

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    I hope the one where I live doesn't close. :(
    I know the general manager and get discounts
     
  5. Ibanez Guy

    Ibanez Guy New Member

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    getting harder to compete with best buy/circuit city

    but stock is only $1.30? I should go buy a hundred shares and hope it goes back up
     
  6. tim122576

    tim122576 Active Member

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    THat sucks, I like Tweeter for the fact that their sales people know a thing or two about their products, unlike your people at Best Buy and Circuit City
     
  7. Zeromancer

    Zeromancer Pampita's Love Slave

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    yup people at Tweeter actually get training on products they sell.
     
  8. SilverJettaGLX

    SilverJettaGLX OT Supporter

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    Sadly, places that let you demo gear where you can seek answers from knowledgeable people are hard to come by these days.
     
  9. GlocksRock

    GlocksRock Glock > You

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    I think this realy sucks, as the one near me is closing. However ther are a couple more within driving distance of me, so it's not all bad.
     
  10. Zz_3.14_zZ

    Zz_3.14_zZ New Member

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    Does this mean there shit is going for cheap?
     
  11. SilverJettaGLX

    SilverJettaGLX OT Supporter

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    We can only hope. Im all about picking up some Focal Be's at fire-sale prices
    :bowdown: :bowdown:

    I was pissed when compussr closed the good guys store here in LV, as they just shut the doors one morning.
     
  12. Harry V. Gina

    Harry V. Gina How did your family do in Katrina?

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    You can go to Magnolia if your Best Buy has one. They know their shit. I overheard some guido sales person there last weekend talking about how incredible sounding the $1,000 audioquest speaker cables are. He had a sick goatee, too.
     
  13. Ronin

    Ronin Guest

    :rofl:

    one time i mentioned paradigm at a mag and they had never even heard of that company

    pathetic
     
  14. cacique78

    cacique78 Member

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    It's so bad they got 50" pioneer elites for 3K.

    And they have a boatload of them!
     
  15. cacique78

    cacique78 Member

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    And if their top brass doesn't get their shit together there might be a lot more closing down
     
  16. blykins

    blykins New Member

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    Maybe if they didn't charge out the ass for their products people would buy more from them. The one near me is closing, i got a letter in the mail.
     
  17. midnite

    midnite OT Supporter

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    the one here has a pioneer elite plasma that is normally $9,999 going for $4,499 :eek4: it had to be over 60" but i cant recall what model number it was
     
  18. cacique78

    cacique78 Member

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    PRO1410HD

    61" and it's a monitor (just FYI)
     
  19. C32

    C32 *The M3 Executioner*

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    They were the "McDonald's" of high end electronics in that you could walk in to any one of their locations and you know you're going to get a consistent product/service.

    I think Tweeter thrived in the early HDTV market where nearly all of the quality sets were selling for $10,000+. HDTVs aren't really a luxury item nowadays. You can find models in nearly all sizes coming in at less than $2000, and everybody from Costco to Home Depot are selling them, so you're not forced to go to Tweeter anymore to find a decent set.
     
    Last edited: Apr 19, 2007

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