Business Notes
By TWICE staff -- TWICE, 7/12/1999
CompUSA Shuttering Four Southern Locations
CompUSA said it is closing four underperforming stores, one in Austin, Tex., where it will continue to operate two superstores, and three in Florida, also located in areas near other outlets. "Our efforts to restore our financial performance have forced us to make many tough business decisions lately, and closing these stores is one of them," said president James Halpin. The closings will leave CompUSA with 207 retail locations.
Rockford Buys Audio Accessories Marketer
Rockford Fosgate has completed the previously announced acquisition of audio accessories specialist Lightning Audio. Terms weren't disclosed. CFO Jim Thomson said the buy adds a new brand to Rockford and will provide Lightning with improved distribution and financial support.
Rent-Way Buys 21-store R-T-O Chain For $7 Million
Rent-Way has acquired America's Rent-To-Own Center, a 21-store chain with outlets in Ark., Kan., Mo. and Okla. with about $8 million in annual revenue. The buy was for about about $7 million in shares and debt assumption, and increased Rent-Way's outlet count to 865.
Sega Dreamcast Rentals To Precede Sales Start
Sega has authorized the Hollywood Video software chain to begin offering Dreamcast video game console and software rental to consumers starting July 15 or 55days before the official Sept. 9 sales date. The retailer said it will have 10,000 consoles for rent. Meanwhile other dealers accepting deposits for Dreamcast pre-orders.
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