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Circuit City Bites the Dust

Discussion in 'The Roaming Zone' started by M in LA, Jan 16, 2009.

  1. M in LA

    M in LA Mobile 28 Years Plus
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    Another major retailer dies...:( From: Circuit City to be liquidated: report | U.S. | Reuters

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  2. Ddeere2

    Ddeere2 Senior Member
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    This is sad. Had a feeling though from when they filled for chapter 11. On the other hand, there will be a lot of bargins. I guess its just Best Buy that the only national retail chain for electronics :loony:
     
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  3. JFB

    JFB Gold Senior Member
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    I had that feeling too, which why I didn't even go there when I was shopping for a TV after Christmas. Maybe a lot of other people had the same attitude after the ch 11 announcement.
     
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  4. larry

    larry Sprint loyalist and former mod
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    Darn that sucks. I actually preferred Circuit City to any of the others. Their online prices were often better than anyone else.
     
  5. budney

    budney Resident Headbanger
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    Online CC was great, but their selection in stores was not even close. They always seemed to be out of stock on what little they had. Also the stores were also messy most of the time. I also think going exclusively with Verizon hurt them too. I will be going over to the one in Bella Terra tomorrow to pick up a external HD for my laptop. :)
     
  6. Matt

    Matt Twin girls!
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    My county does not have Best Buy (yet) - closest ones are 1/2 hour away. We have one CC. Fortunately, a BBY is being built near me and will open this summer.
     
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  7. budney

    budney Resident Headbanger
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    What a disapointment! I was their when CC opened and all they were doing is taking 10% reuglar prices. :(
     
  8. KyleAndMelissa22

    KyleAndMelissa22 Woot Woot, Splat !!!
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    Oh well for Circuit City. :( Their stores reminded me of The Wiz.

    I do my Electronic Shopping at Radio Shack anyway, or J&R when I goto NYC ;).
     
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  9. QLR

    QLR RIP Note!
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    I really didnt miss them when they closed my local store during the 1st round of closures. There wasnt really any bargains when I went (twice). It's sad, really
     
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  10. Ddeere2

    Ddeere2 Senior Member
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    I always loved their online selections. The in store selection was nothing compared to Best Buy. I found it rather disappointing when they were advertising around town 30% off when it really was only 10%. I'll wait a few more weeks to see if the markdowns get better. Supposedly the sale will last until the end of March.
     
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  11. KyleAndMelissa22

    KyleAndMelissa22 Woot Woot, Splat !!!
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    The end of March is the official estimate.

    Each store will get rid of it's existing inventory,
    and some stores will unload quicker than others.

    I hope to go to the one in Spartanburg (near me) real soon.
     
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  12. SteveW

    SteveW Battery mgmt is my life
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    (As others have noted, there aren't likely to be many bargains at the defunct retailer. Here's the NYT article, which also shows how arrogant the management was.)


    At Circuit City, Discounts Aren’t Always Discounts
    By Eric A. Taub
    January 20, 2009, 1:45 pm
    The New York Times

    Looking for a good deal on some consumer electronics products? If you’re planning on heading over to your local Circuit City to pick up a great bargain before they go out of business, here’s a word of advice: don’t waste your time.

    On Monday I drove over to the Circuit City in Woodland Hills, Calif. (a nearby store closed in the first round of shutdowns several months ago) to see the bargains.

    There weren’t any.

    Circuit City is currently knocking 10 percent off the ticketed price of TVs, 20 percent off CDs and DVDs, and 30 percent off cables. But so what? Virtually all the merchandise I checked cost often hundreds of dollars more than their competitors, even after their liquidation discount. For instance, a Toshiba 46-inch LCD (Model TOP46XV540U) was $1,660. You can easily find it for $1,200.

    The “discounts” weren’t that alluring, as several customers grumbled that they had seen the same TVs for hundreds less elsewhere.

    And I can confirm that. You can do better shopping at Amazon or Costco, to name just two retailers. Nearly every product I checked cost less at one or both of those stores, even after you add tax (Amazon had free shipping on virtually all the items, and unless you live in New York, they don’t charge sales tax.)

    Also, at Circuit City, all sales are final, so you better be sure you want what you’re buying (and that you want to pay more than you need). And (this is great) they won’t match prices.

    Here’s a representative sample. The first price is Circuit City’s after their discount and including 8.5 percent sales tax. The second in parentheses is either the Costco store price including tax, or Amazon’s:

    TVs:
    Mitsubishi 60-inch 1080p rear projection MDEWD60735: $1,465 ($1,288)
    Panasonic 50-inch 1080p plasma TH50PZ85U: $2,147 ($1,478)
    Panasonic 42-inch 720p plasma TH42PX80U: $977 ($765)

    DVD Players:
    Sony upconverting player DVPNS700HB: $78 ($65)
    Toshiba upconverting player XDE E500: $97 ($80)

    Circuit City is clearly in no rush to liquidate. The liquidators goal is to maximize the cash for the creditors. They assume they’ll sell the first products at high prices to unsuspecting customers, and then gradually lower the prices of the leftover items before they shut for good in March.

    Their strategy of getting the most money in the short run is reminiscent of what helped get them in trouble in the first place: in what must be one of the dumbest retailing moves in history, in 2007 the company fired more than 3,000 of its most experienced (and best paid employees), figuring that no one would notice if they kept on less experienced and lower-paid people instead.

    The company reaped what it sowed, as its Woodland Hills customers moved on — to the Best Buy across the street.




    SW
     
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