Tweeter Opening New Store, Testing Prototype
by Alan Wolf -- TWICE, 3/19/2008
Canton, Mass. — Tweeter Opco, formerly Tweeter Newco, is opening its first new store since its acquisition last summer by Schultze Asset Management, and will test a new store format in Boston.
The new store, set to open in early April, will be a 6,000-square-foot “Playground” showroom in Chicago’s Lincoln Park district. The Playground format showcases A/V products and whole-house systems within home-like vignettes, and has been “way outperforming” older stores on a range of performance metrics, Tweeter president/CEO George Granoff told TWICE.
The Lincoln Park location will be Tweeter’s sixth such showroom, and replaces within the Chicago market a mall-based store overlooking Michigan Avenue whose lease was rejected.
The new prototype store, slated to open for testing in mid-April, is a retrofit of an existing Tweeter location near company headquarters in Boston. “It’s quite a step forward,” Granoff said.
Granoff noted that the cost of remodeling existing stores is comparable to that of opening new ones. “Converting a store to the new format costs $800,000,” he said, “and I don’t have $75 million.”
The company currently operates 95 locations around the country.
Granoff, a former president/COO of the Ames and Bradlees discount chains, said Tweeter had been keeping a low profile while he learned the lay of the land. He succeeded Joe McGuire last August following the company’s acquisition by Schultze, a Purchase, N.Y.-based investment group, for $38 million in a bankruptcy auction.
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Ok, negative people. So, if you are so unhappy with this company then why DO YOU CONTINUE TO...
Concerned - 2008-25-4 03:04:00 -
So Granoff's experience in turning around distressed companies was gained by being a senior...
Sandy still owes me $11,000 - 2008-14-4 04:32:00 -
Hey concerned > Everything you said has been said for the last 6 plus years I was there....
Beenlieto - 2008-28-3 00:04:00 -
Hey concerned, I am concerned about you. You don't get it. You are writing all these inspiring...
Juan Toothree - 2008-26-3 14:35:00 -
... (Twice keeps cutting my post)On a final note I personally believe that Tweeter can turn it...
Concerned - 2008-26-3 12:56:00
Tweeter To Open New Store, Tests Prototype
03/24/2008Tweeter Unveils New Store Prototype
06/12/2008Tweeter Gains $80M In Financing
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