Forecast bleak for holiday electronics spending
By Darrell Smith | Anchorage Daily News
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
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