As part of its plan to realign the organization, CompUSA has announced a comprehensive strategy to improve the company’s financial status. The realignment includes a cash infusion, store closures, major expense reductions and a corporate restructuring.
As part of CompUSA’s realignment strategy, the company will receive a $440 million cash capital infusion. The financial boost will be designated to improve the company’s balance sheet.
“Based on changing conditions in the consumer retail electronics market, the company identified the need to close and sell stores with low performance or non strategic, old store layouts and locations faced with market saturation. The process began last week with the closing of four CompUSA stores and over the next 60-90 days, the company will close a total of 126 stores in the United States to focus on initiatives that enhance its top performing locations,” said Roman Ross, chief executive officer, CompUSA, in the press release.
CompUSA says these moves will allow the company to focus its efforts and ensure a strong presence in its 103 stores in 39 states and Puerto Rico.
Press release (.doc) here.
First order of business: You CompUSA dunces might want to try releasing news in a format other than the proprietary Microsoft Word (.doc) format. The fact that you do such an ignorant thing speaks volumes.
MacDailyNews Note: To find out the fate of CompUSA locations in your area, click here. If your location is not shown in the list of stores, it will be closed within the next 90 days and applications at your local fast food joints will skyrocket.
Related articles:
CompUSA shuffles management, closes four stores (100 stores may close this year) – February 27, 2007
CompUSA 230-store chain reportedly for sale – September 13, 2006
Apple and Circuit City team up for new Mac pilot program; Apple may pull out of CompUSA – September 06, 2006
Pleased to meet you, Miss AllocationOfCapital.
Sadly, most of the drones that work at CompUSA will be hired by Apple retail stores.
Apple retail quickly becoming more like CompUSA/Best Buy
MDN – Wow got up on the wrong side of the bed. Ah?
something about “deck chairs on the titanic” comes to mind…
@moo
“Apple retail quickly becoming more like CompUSA/Best Buy”
how so? I’ve never had anything but great customer service at a number of apple stores…
.doc is no problem-95% of us in the US are sitting in front of a Doze box anyway, right now.
Good riddance, CompUSA!!! You guys had horrible customer service, horrible selection, and an overall horrible experience!
GOOD RIDDANCE! WE HOPE YOU NEVER COME BACK!
Some CompUSA stores have become the slums of computer shopping. I’ll drive much further to a MicroCenter instead of the more convenient CompUSA store. I can walk to an Apple store in 5 minutes but, that’s not really a computer store.
in my opinion its going to be a apple store halo effect when those compUSA stores shut-down
Hear that?
That’s the sound of millions of Mac users that don’t give a flying monkey.
they’re closing the one in Atlanta, Ga., but keeping the Augusta, Ga. store open. The one in Atlanta did have an “Office Depot” feel to it – check, maybe they all do. If that’s the case, then they should all shut down. Craphole Office Depot can go too!
ChompUSA has always been a disappointment.
I won’t despair over their predictable contraction.
Damn! I took a look and noticed all the stores in my area (Sacramento) are all going to be closed. Hopefully Apple will fill the void with more of their own stores in this area.
As questionable as we/they are with regards to profit margin, a sizable amount of switchers from PC to Mac head to a store where they can look at them side by side, and to listen to somebody who is reasonably knowledgable about both. These stores also have Apple Stores, as poorly as some of them are managed, but they also have Apple Reps in them, which means merchandise and people working for Apple will certainly have to be relocated at some cost and/or time for Apple. Everybody loses. Whether or not it’s a short term loss and a long term gain, is yet to be determined. Hate them or love them, Apple will also be affected.
Anyone know if this will affect Best Buy stores in Canada?
Quite a few years back, you should have heard employee’s at CompUSA in Duluth, GA talk to
people interested in Macs. Buying a Mac there was like jumping off a cliff. I set up all the Mac’s on the floor to start up at opening time and had the trinoids voice say “CompUSA employee’s all suck. Macs rule”. OS 9 allowed such things as that. Those were the days. That place used to be hopp’in bigtime. Now everyone is “hopp’in” over to the Apple Store.
With CompUSA’s demise, look for Apple to be moving into Best Buy stores nationwide before the end of 2007. As great as Apple’s own stores are, they still need a physical presence in a large nationwide retailer. Best Buy will simply take over where CompUSA has left off.
Actually, I totally agree with the fact that buying a Mac at CompUSA was suicidal only because about 5-6 years ago they literally told people that that’s not what you should buy, and switched them over to the PC side. But not, about literally 9 out of 10 of my co-workers love Macs. We try and switch as many people. In fact, we had the biggest Mac sales in the region for the longest time, contributing 15% to the total profit at the store. I guess what I’m saying is that now they’re different. With the release of Vista, many of us who are even remotely familiar with Macs have realized how awful MS imitates. That being said, at least at this store, if we were to close (but we are not), it would be a huge lost to potential Apple Fans, the Apple Fans working there, and the region for Mac sales through CompUSA.
Yawn. And in other news it has been discovered that whales shit in sea water.
“how so? I’ve never had anything but great customer service at a number of apple stores…”
I’m glad to hear that. However, Apple retail’s hiring standards have dropped significantly as they need more warm bodies to fill their staffs.
They are hiring some people who have never even used Macs before. Don’t know spit about the company, the legacy or the brand, and some resort to giving the wrong info just so they don’t look silly, which is one of the things I always hated about CUSA and BB. Their people don’t know squat and make crap up thinking you are dumber than they are.
I did a search for what was close to Long Beach CA (Long Beach currently has two CompUSA stores) and it told me the closest one to Long Beach (in Los Angeles County) was Bakersfield, 123 miles away!
Wow
A few years back I had the option of buying my new Powerbook online or at the local CompUSA. Sales tax versus shipping was pretty much a wash, so I went with CompUSA. I walked in, pointed to the Powerbook I wanted, and said, “I’d like one of those, please.” The salesman tried to convince me that, no, I really wanted one of these Windows laptops – that was an Apple laptop, it didn’t run Windows, it didn’t run Office! I reiterated that I wanted that model, and would he kindly get one from the storeroom? The salesman tried to sell me a different, higher-end Windows laptop, and pointed out that it ran *games*! At that point I went to the store manager, who was good enough to retrieve the key and get me a Powerbook.
My local store isn’t closing, but even if it were, I don’t think I’d miss it much.
You’re not gonna hear me badmouthing CompUSA. For the six years that I’ve lived in Albuquerque, CompUSA has been one of the only places in town you could buy Macs, and their Apple section has always been well maintained. We have an Apple Store now, but I had to go to CompUSA just a couple days ago to buy a Logitech Webcam (since the iSight is no longer available and there’s no replacement in sight). No one else in town carried it, but CompUSA had Logitech’s entire line. I’m happy to see that the ABQ store doesn’t appear to be closing.
Dude!
Too much coffee today? Irritable?
News release in a word doc is a non issue. Proprietary? – Maybe, except almost anything will open it.
Find something better to complain about.
The Other Steve: I’ll take your Long Beach and raise you a Seattle. All CompUSA’s in Washington except the store in Spokane are closing. 280 miles. Is it a coincidence that they seem to be going where Apple Stores aren’t?
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