Tweeter to Close 19 Stores, Cut 200 Jobs

UpInArms

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Thu Apr-28-05 07:32 PM
Original message

Tweeter to Close 19 Stores, Cut 200 Jobs

http://www.washingtonpost.com/wp-dyn/content/article/2005/04/28/AR2005042801343.html

CANTON, Mass. -- Tweeter Home Entertainment Inc. on Thursday posted a $27.6 million first-quarter loss and said it plans to close 19 stores and cut more than 200 jobs.

The news sent shares of the Canton-based electronics retail chain down more than 18 percent.

The cuts will leave Tweeter with 158 stores nationwide and eliminate 6 percent of the company's 3,600-person work force, spokeswoman Kate MacKinnon said.

The stores to be shut down accounted for 32 percent of Tweeter's operating losses over the past year, MacKinnon said.

...more...

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Maat

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Thu Apr-28-05 07:52 PM
Response to Original message

1. I have been in a 'Tweeter' twice ..

both times they treated Hubby and I like dirt.

So, while I'm sorry for the employees, I'm not surprised.

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ckramer

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Thu Apr-28-05 09:04 PM
Response to Original message

2. Hahaha

When will StarBucks be doing the same?

Oh I forget people can't live without that daily over-priced coffee drink.

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Ian David

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Thu Apr-28-05 09:39 PM
Response to Reply #2

4. Be nice. Starbuck's is Democrat

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Paulie

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Thu Apr-28-05 09:26 PM
Response to Original message

3. I stopped going after y2k

When the tech bubble burst, I ran out of money.

And service did drop. When in Chicagoland Tweeter came and bought United Audio, the service just went in the toilet.

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