• Posted on Wednesday, November 12, 2008
  • Bookmark and Share
  • email
  • |
  • print
  • |
  • rss

tool name

close
tool goes here

Forecast bleak for holiday electronics spending

email this story print this story jump to comments

The news keeps getting worse for a weak consumer electronics sector, with word of Circuit City's bankruptcy filing and continued reports of a bleak holiday shopping season for large chains and local specialty stores.

"Anyone who says they were not affected by the meltdown would be lying to you," said Leon SooHoo, owner of home theater retailer Paradyme Sound and Vision on Fulton Avenue. "We rely on consumer confidence. As long as confidence is in the toilet, we'll be impacted."

The holiday season is historically strong for consumer electronics.

But this year, retailers are concerned. Analysts are downright pessimistic. And shoppers in a thrifty mood are circling stores, hunting for bargains and willing to wait for a better deal.

It's a difficult environment for Circuit City, which is arranging financing to stock up its stores for the holidays in a fight for survival.

The area's five Circuit City sites – Sacramento, Citrus Heights, Elk Grove, Folsom and Roseville – survived the nationwide round of 155 store closings announced last week, and the locals were gearing up for the challenge.

"We're ready for it," said Keri Rosson, operations manager of the Circuit City in Citrus Heights. "We've been here too long to go away."

Read the complete story at sacbee.com

  • Bookmark and Share
  • email
  • |
  • print
  • |
  • rss

tool name

close
tool goes here
JOIN THE DISCUSSION

We welcome comments. To post one, you must sign in using either your McClatchyDC login or your login for Facebook, Twitter or Disqus. Just click the appropriate box below.

Please keep your comment civil, short and to the point. Obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. If you find a comment abusive or inappropriate, please flag it for the moderator by placing your cursor on the comment, then clicking the "flag" link that appears. Thanks for your participation.

Stay Connected

Sign up for email newsletters RSS
Follow us on your iPhone Follow us on your Android device
Follow us on Facebook Follow us on Twitter Follow us using Google Currents