Mar 22, 2007 9:54 AM

Tweeter Is Latest Best Buy Victim

Gadget retailer Tweeter is the latest chain to fall victim to Best Buy’s world domination strategy. The chain announced plans Thursday to close 49 stores and cut its worforce by 20 percent. The closings include all stores in California, Tennessee, Alabama, New York and most of Georgia. Tweeter and other electronics retailers have been posting […]

Gadget retailer Tweeter is the latest chain to fall victim to Best Buy's world domination strategy.

The chain announced plans Thursday to close 49 stores and cut its worforce by 20 percent.

The closings include all stores in California, Tennessee, Alabama, New York and most of Georgia.

Tweeter and other electronics retailers have been posting growing losses as they struggle with diminishing profit margins. The TV business has become particularly cutthroat, with an ongoing glut of LCD screens continuing to drive down prices.

Tweeter to restructure operations [MarketWatch]

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