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Ripples from Circuit City and Tweeter to affect upscale dealers?
It's not like folks in the market for custom-install gear go to big box retailers like Circuit City and Tweeter for their "fix," but who can deny the way that those Sunday paper ads get the imagination going about how to improve your digital lifestyle? Prognosticators of all things CE, NPD Group, says that the diminishing fortunes of these big box stores will be felt at specialty dealers, and not necessarily in a good way. Sure, the disappearance of all that advertisement money from the CE pool might hurt awareness; but in the end, we know all those displaced regular customers of Circuit City and/or Tweeter will need to shop somewhere, so it's also an opportunity for smaller shops. Tough times are ahead, but there's also opportunity for retailers who can provide top-notch service.
Circuit City announces store closure plans, full list of locations revealed
Yesterday news broke that Circuit City would announce the imminent closure of 155 retail locations, and this morning the company confirmed the news. Detailing its next plan of action in a lengthy press release, the electronics-maker blames "waning consumer confidence and a significantly weakened retail environment" (amongst other things) for the closings, and says that it's considering "all available options and alternatives for the business." In the short-term, this means that we'll see store closings in 55 markets from coast to coast, and the retailer will axe 17 percent of its workforce. The company also plans to begin store closing sales this Wednesday, November 5th, so they're clearly not wasting any time with the process. We've got more info in the read links below, as well as a full list of the closing stores -- if you're an employee, we hope your number isn't on there.[Thanks, Milachy]Read - PDF List of store closings Read - Circuit City to Retrench [Warning: requires subscription]Read - Circuit City Stores, Inc. Provides Update on Liquidity and Announces Store Closing Plan
Circuit City to shutter 155 stores, locations to go public tomorrow
According to a slew of tips we've received, Circuit City will be closing down 155 of its retail locations, possibly even before Black Friday. Right now details are sketchy, but it seems that the company's traditional "holiday kickoff" meeting was actually a "holiday layoff" discussion instead. Apparently, a full list of store locations getting the axe will be revealed. In the words of a current employee:"I'm an employee @ Circuit City and today there was a mandatory store meeting for the holiday season and to welcome all the seasonal employees. There was also some tension as rumors were rampant the days before that we were all going to find out we were out of a job today. Luckily, but still somehow unfortunately, I'm still an employee of Circuit City. The same can't be said for the employees of the 155 stores that are closing, possibly even before black Friday. The list of stores that are shutting down will be made public tomorrow. The idea behind closing the stores before Black Friday is to transfer product from the failing stores to the stronger ones to save some money."This makes sense given the rumors we heard in October and the fact that the company's stock has been been essentially put on death watch by the NYSE -- but that surely won't soften the blow to everyone whose job will be affected by this. If you have more detail on the situation, feel free to drop us a line.[Thanks to everyone who sent this in]
AT&T to push U-verse services at Circuit City and Walmart
AT&T's not messing around with spreading the good word on its U-verse services, as it has just nailed down an agreement to sell the aforementioned products in two of America's largest retail outlets. Beginning this month, U-verse kiosks will emerge in over 600 Circuit City and Walmart locations, which will give unsuspecting consumers the chance to ditch their current cable / satellite / fiber provider and sign up for AT&T's own programming / high-speed internet / digital phone suite. The move comes in the midst of its nationwide Total Home DVR rollout, which enables any connected TV in the crib to watch a recorded SD or HD show. Of course, U-verse still serves a comparatively small amount of the country at present time, but with an initiative like this, we feel pretty good about future expansion.
Buy Samsung's BD-P1500, get The Matrix Collection on Blu-ray for free
Samsung's BD-P1500 didn't stay situated at $200 for long before selling out (or being removed) at RadioShack, but on the eve of one of the most anticipated Blu-ray releases in the history of the format, along comes yet another deal that could be just the one you were waiting for. If you've been holding off on buying a BD deck until The Ultimate Matrix Collection landed, have a look at this. A number of retailers (Amazon, Best Buy and Circuit City, most notably) are now offering the Profile 1.1 Profile 2.0 player with a completely free copy of the 10-disc box set. Of course, the price of the player varies depending on your e-tailer of choice, but considering that the MSRP on the film set alone is $129.95, you can probably see the value here. Dig in below, if you're so inclined.[Thanks, Jason]Read - AmazonRead - Best BuyRead - Circuit City
LG's BD300 Netflix / Blu-ray deck gets delayed
October 10th has come and gone, and LG's BD300 has yet to leave the shipping dock. In fact, Circuit City is sending out notifications to consumers that pre-ordered the unit to inform them of the holdup. According to the note, the manufacturer (that'd be LG) has yet to release the product to the store for shipment, meaning that there's no telling when it'll finally be received. What's the deal, LG? Is this just a momentary snag, or something we should really be concerned about? Check the full e-mail after the jump.[Thanks, Jeffrey]Update: Seems that only some retailers are getting their shipments delayed -- hopefully you get lucky.
LG's BD300 Netflix / Blu-ray deck ships on October 10 for $349
Contrary to what LG coerced us into believing at CEDIA, its Netflix / Blu-ray-lovin' BD300 will actually be sold a full $50 cheaper than the previously quoted $399.95. Circuit City has the deck up for pre-order right this very moment for $349.99 (okay, so maybe that's not a full $50, but c'mon), and better still, the retailer is listing an October 10th release date. Now that Netflix has inked deals with CBS, ABC and Starz, there's just one question left: are you in for three fifty?[Thanks, Joshua]
Nikon D90 now up for order at Circuit City
Nikon's still unofficial D90 DSLR may have been pulled from Target's website after making a brief appearance a few days ago, but it looks to be holding steady at Circuit City, where you can now get your pre-order in for the expected price of $1,299.99. As you can see above, the site is also listing the camera with a release date of September 5th, which is only a tad off the mark of some of our earlier tips. There's also no surprises with the specs, although the "real movie-like" video recording mode that piqued our interest yesterday is apparently now officially known simply as an "HD movie mode" -- a step backwards if you ask us.[Thanks, Chris]Update: Looks like the game is still afoot! Circuit City has pulled its page too.
D90 outed by inventory screen at $1,300 asking price
As Photokina looms large, D90 rumors have been in abundance -- with a varying range of legitimacy. This here Circuit City inventory screenshot, however, has a ring of truth to it, and even unveils a pricetag in the process: $1299.99. Not bad for rumored specs that include a 12 megapixel Live View sensor, video recording, HDMI out and GPS. The price also includes that new 18-105mm VR lens, but there's no more info to be had at the moment. A little help, Nikon? We won't tell a soul, we swear.
Best Buy accounts for most Blu-ray purchases, but Amazon and Wal-mart are catching up
Looks like all those specials are paying off for Amazon and Wal-mart, as surveys done last fall and this spring indicate they're narrowing the gap with "leading Blu-ray shopping destination" Best Buy. No nifty percentage numbers this time, but according to VideoBusiness, Amazon's own findings indicate its share of the Blu-ray retail market is 3.5 times bigger than its DVD slice. That seems to jibe with NPD's finding placing it number two, followed by Wal-mart (benefiting from enhanced Blu-ray displays and sales of its own), then Target and Blockbuster, respectively, having overtaken Circuit City in the period from fall to spring. Is there anything other than deep discounts and BOGOs that decides where you buy Blu?
Blockbuster calls the Circuit City merger off, asks for class ring back
It looks like the potential lovefest that might have been the Blockbuster and Circuit City mashup has drifted away as quickly as it appeared. "Based on market conditions and the completion of our initial due diligence process, we have determined that it is not in the best interest of Blockbuster's shareholders to proceed with an acquisition of Circuit City," said Jim Keyes, head-pimp at B-Buster. We can't be sure what the result was with Circuit City shareholders or employees, but we're willing to bet it didn't look anything like that Best Buy rap video. One more time, after the break.
Rumor: Retail chains showing December 3 release date for Starcraft II
Many froth-mouthed fans of Blizzard's intergalactic real-time strategy masterpiece Starcraft have anxiously been awaiting word on when the next installment of the series would land in their anticipatory laps. Blizz has been characteristically tight-lipped about the title's launch window, though we were recently informed that an online SKU search for Starcraft II on Best Buy, Circuit City, and Gamestop's web sites reveal the same supposed release date of December 3, 2008. With no confirmation from Blizzard, it's far from official -- though we imagine this won't stop dedicated zerglings from dropping by the office tomorrow, and requesting off the last month of the year.[Thanks, Chad.]
Retailers contest FCC fines on in-store analog-only signage
To no one's surprise, retailers are putting up a fight against fines handed out by the FCC regarding point-of-sale notification that analog-only TVs will go black after the digital switchover. Circuit City was the first to lodge a complaint and Best Buy followed quickly afterwards. Among the retailers' complaints are: the required signage was never made available for comment, the acts were not "willful or repeated," and that the FCC has no jurisdiction over the sales. We've tried to use arguments similar to those first two on speeding tickets -- you guess the result. Whether or not the FCC has jurisdiction is the more interesting point; the commission justified imposition of its point-of-sale rules in part III-B of its "Second Report and Order." Our take is that this legal action is really just a not-so-friendly way to negotiate the fines down, and expect the retailer bandwagon to get crowded if this is successful.Read - Circuit City challenges FCC fineRead - Best Buy challenges FCC fineRead - FCC "Second Report and Order" [PDF link]
Circuit City looks for a suitor, Blockbuster likely to be it
Oddly enough, the far-fetched proposal is apt to be accepted. Circuit City has reportedly solicited the services of Goldman Sachs to help "negotiate a deal," which will essentially put the troubled electronics retailer in the hands of someone else. As it stands, Blockbuster looks to be the most interested in picking up the pieces, with billionaire Carl Icahn (Blockbuster's largest shareholder) agreeing to finance the get-together. Of course, it looks as if Blockbuster may be the only outfit interested. Not like that's any surprise, however, as Best Buy itself is having to look to Europe to boost revenues with US consumer spending off from where it once was. The real question here is whether a Circuit City-Blockbuster combo would be the perfect concoction to turn things around for both flagging firms, or will we find that two sinking ships actually do go down faster when anchored to one another?
Circuit City comes through after trashing man's Honda Civic
It may have given him the runaround at first, but it looks like Circuit City is now finally doing the right thing after totally trashing the Honda Civic owned by an 8thcivic.com forum user that goes by the name VTECnical. As you may recall, that damage, which totaled over $12,000 in all, was incurred after VTECnical had Circuit City install a Pioneer AVIC Z2 GPS unit and some other components he purchased at the store, all of which went horribly wrong and left the car unsafe to drive. Now according to Autoblog, however, it appears that not only has Circuit City's insurance provider come through with over $10,000 to cover repair costs, but Circuit City has paid out the remaining amount itself, and thrown in a brand new $2,000 Pioneer AVIC Z2 to boot. No word if VTECnical's going to have Circuit City install it or not though.
Blockbuster offers to buy, um, Circuit City: digital downloads be damned!
Huh? Blockbuster just made public its February 17th offer to purchase Circuit City for $6 to $8 per share. As of this morning, Circuit city has not provided the requested due diligence necessary to move the deal forward. As such, Blockbuster is pulling a Microsoft and making the proposal public in hopes of inciting shareholders. They've even gone so far as to publish an open letter from Blockbuster CEO Jim Keyes to Phil Schoonover, CEO of Circuit City. Really, is this how all corporate affairs will be conducted in the future guys? What really boggles the mind though is Blockbuster's quest for even more brick-and-mortar as digital downloads begin to take off. Hit the read link for the full contents of the letter. [Via I4U]
Man left with $12k in damages after Circuit City GPS install gone wrong
Installs gone wrong certainly aren't all that uncommon, but the tale told by one VTECnical of the 8thcivic.com forum is undoubtedly a cut above the rest, and could well have you reconsidering that suction cup option. As VTECnical tells it, he bought a Pioneer AVIC Z2 GPS unit and some other components from Circuit City last July for more $3,000 and decided to let their installers do the installation work for him -- apparently after he was told that it'd slide into his Honda Civic without any modifications.The problems then allegedly began when the installer whipped out a heat gun, which was purportedly intended to be used to mold a mounting guide for the GPS unit but instead wound up melting one of the Civic's heating ducts. As if that wasn't enough, the installer apparently also used tape to hold the GPS unit in place, installed the antennae on the inside of the car instead of the outside, and used a glue gun to install the speakers instead of bolting them in place. All told, that apparently not only resulted in over $12,000 worth of damages but, according to the estimate from a Honda dealership, left the car "unsafe to drive." For its part, Circuit City apparently did eventually remove the equipment and refunded the full $3,000+, but VTECnical is now left dealing with Circuity City's third party insurance company to recover the rest of the damages.[Via Autoblog]
Price still swaying decisions of HDTV buyers
This day and age, consumers are a lot more willing to fork out thousands of dollars to bring home a swank HDTV than in years past, but that being said, price is still a primary concern even for those with deep pockets. According to new research from iSuppli, it found that over 63-percent of respondents making between $100,000 and $149,000 per year cited price as a "main determining factor when buying a TV." Curiously, it still found that 40-percent of buyers were heading to (generally overpriced) brick-and-mortar outlets in order to pick up their set (versus 23-percent buying at discount stores like Costco and 18-percent purchasing online). As an aside, the surveyors found that consumers saw Best Buy as having the best customer service (um, really?), while fledgling Circuit City was ranked even lower than Wal-Mart. Still, we maintain that B&M locales are great for scoping out which set you desire, but we'd certainly glance around online before paying a premium for getting it nearby.[Via New York Times, image courtesy of StarTribune]
Best Buy giving $50 gift cards to HD DVD adopters
Mega-chain Best Buy is sending $50 gift cards to customers who bought HD DVD players or attachments from its US stores prior to Feb. 23 (coincidentally, for our readership, the date Microsoft declared the format dead to the company). CNN reports most customers won't have to do a thing to receive the card as they'll be identified through the Reward Zone program, service plans or online purchases. If you're a customer who won't be identified in this manner, just grab a receipt (you do keep those, right?) or provide your credit card info to the company for proof of purchase. Gift cards will be sent out by May 1.Circuit City provided a similar deal earlier this month to recent HD DVD adopters by allowing them to return the product if it had been purchased within 90 days. Both Best Buy and Circuit City's online trade-in programs (run by the same company) will allow you to unload your player beginning March 21. Before anyone thinks they're being witty, only HD DVD players can be returned for store credit, you're not getting $50 per movie disc purchased. Although this format war was in no way these retailer's fault, it's very nice to see them taking care of customers left out in the cold.
US economy hurting smaller LCD brands
We've already heard about how the economic slowdown in the US may be hiking up your cable bills, and it stands to reason that gadget buying will feel a pinch as well as buyers tighten their belts. But like so many other things in business, it may be the "little guys" (in this case, smaller LCD brands) that get jammed up. Even though consumers will be looking favorably at value-oriented LCDs, there are murmurs that resellers are pushing out their payment terms from 2-months to 3-4-months. It's hard to argue that a change in payment terms like this will negatively affect smaller, more tightly-budgeted manufacturers. But, we'd also like to remind folks that in the specific case intimated in the article (Syntax-Brillian), there's also the whole issue of its ill-fated LCOS efforts. On a positive note, we suggest value-oriented manufacturers tout the money-saving that staying at home with a good TV can produce (cheaper and more enjoyable than going out).[Via TGDaily]
