[opendtv] FEATURE-In Wal-Mart era, upscale electronics stores hurt more
- From: Monty Solomon <monty@xxxxxxxxxx>
- To: undisclosed-recipient: ;
- Date: Tue, 25 May 2004 23:48:30 -0400
FEATURE-In Wal-Mart era, upscale electronics stores hurt more
- May 25, 2004 01:24 PM (Reuters)
By Ellis Mnyandu
NEW YORK, May 25 (Reuters) - Even though Americans are
splurging on flat-panel televisions and DVD recorders, the
nation's upscale electronics stores are struggling.
Christmas is still months away, but analysts are already
worried that the typical year-end boost could elude these
retailers as competition escalates, forcing some to rethink
their business strategies.
Instead of counting profits, the nation's mid-to high-end
electronics retailers are grappling with market-share losses
that threaten to push them onto the sidelines of a booming $100
billion U.S. consumer electronics industry.
The growing clout of Wal-Mart Stores Inc. (NYSE:WMT) and other
mass-market retailers like Best Buy Co. Inc. (NYSE:BBY) has put
the typically small but upscale electronics stores such as
Tweeter Home Entertainment Group Inc. (NASDAQ:TWTR) and Ultimate
Electronics Inc. (NASDAQ:ULTE) on the defensive.
...
- http://finance.lycos.com/home/news/story.asp?story=41632507
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