Articles about Compusa

Red-soaked Systemax kills Euro jobs and US PC factory

US giant Systemax is shuttering its PC factory and axing the CompUSA and Circuit City brands. The reseller, which also runs Misco.co.uk, signalled it will cut its workforce in Europe after ploughing into the red in Q3 2012. The New York-listed biz delayed reporting its latest financial results on Monday as Hurricane Sandy …
Paul Kunert, 2 Nov 2012
warehouse interior - wide aisle, big shelves

Systemax profits tumble as US punters keep wallets closed

Systemax CEO Richard Leeds said he's disappointed by calendar Q1 numbers as profits fell by almost 50 per cent due to flagging US consumer electronics sales. The group - which operates the Misco and WStore brands in Europe, and Tiger Direct, Circuit City and CompUSA stateside - saw turnover slide one per cent year-on-year to $ …
Paul Kunert, 2 May 2012
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'Perfect storm' drives electronics stores to EXTINCTION

The window of opportunity for traditional bricks-and-mortar consumer electronics retailers to catch up with web-based and supermarket rivals has closed and many more will go the way of the dinosaur. So says channel beancounter Canalys, which predicts others will follow in the footsteps of monolithic consumer outlets such as …
Paul Kunert, 19 Apr 2012
hands waving dollar bills in the air

Systemax blows £250k on ex-CEO legal probe bills

Rising biz sales fuelled Systemax's third quarter even though the consumer spending freeze showed no signs of thawing. The parent of the Tiger Direct, CompUSA, Misco and WStore recorded a 4 per cent rise in turnover for the period ended 30 September, raking in $901m (£562.5m). The firm's operating income climbed 58 per cent to …
Paul Kunert, 2 Nov 2011
hands waving dollar bills in the air

Systemax sales grow and profits too

Systemax's investigation into whistleblower allegations against former exec Gilbert Fiorentino added $7m to its Q2 pre-tax profits but the consumer slowdown dented sales growth. The parent of US retailers Tiger Direct and CompUSA and reselllers Misco and WStore in Europe, has reported profits of $15.5m, up 64 per cent on the …
Paul Kunert, 4 Aug 2011
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Feds investigate $17m of missing kit at CompUSA

The FBI have taken charge of investigations into the reported theft of $17m (£10.4m) worth of electronics allegedly stolen from Systemax-owned CompUSA by two brothers of fired exec Gilbert Fiorentino and other former employees. Only last month, the SEC confirmed it was looking into matters surrounding the departure of …
Paul Kunert, 22 Jul 2011
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Systemax Q2 revs jump 17%

Systemax shrugged off the credit crunch in Q2, with sales jumping 17 per cent to $758m for the three months ended June 30. The direct marketing IT reseller and PC builder, noted stronger demand in North America and Europe in the quarter and it held gross margins steady at 15.3 per cent. However, net income fell 1.6 per cent …
Team Register, 8 Aug 2008

Best Buy amps up Apple volumes

Best Buy is to start selling Apple PCs in 200 stores, the electronics retailer said today. This follows successful trials conducted in 50 stores. Best Buy sold Apple computers once before but axed the line in 1998 because of slow sales, the AP reports. That was at a low ebb for Apple. Soon afterwards the company axed most of …
Drew Cullen, 4 Apr 2007
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CompUSA jettisons 126 stores

CompUSA today sounded the Big Retreat, announcing plans to close more than half of its US stores. The lossmaking PC retailing giant is to restructure at a corporate level and promises "major expense reductions". It has a secured a $440m cash injection from an unspecified source to shore up its balance sheet. Post re-org, the …
Drew Cullen, 28 Feb 2007

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