Tweeter to Close 49 Stores

High-end electronics retailer Tweeter plans to scale down its operations and close 49 stores over the next two months in California, Tennessee, Alabama, New York, and most in Georgia.  After the closures, Tweeter will have 104 stores nationwide.

Tweeter, an early supporter of HDTVs and the new HD DVDs, has seen profits fall over the last year due to shrinking HDTV prices.  Similarly,  Circuit City last month announced the closing of 70 of its stores.

Tweeter says it will restructure the company, investing more heavily in its “Consumer Electronics Playground” stores.  There are currently seven CEP locations, and Tweeter says it will open two new ones in North Carolina this Fall.  Tweeter says all new stores will be CEP.
 

“As we continue to face the challenges of our ever-changing industry, we do so with a renewed focus on the future of our brand and on our ability to deliver the ultimate consumer electronics shopping experience,” said Tweeter CEO Joe McGuire in a statement.