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Be aware that many chains having close-out sales actually sell items for more
than their normal price by marking them "40% off" of some fictional suggested
retail price rather than the normal shelf price.
Linens 'n' things got busted big time for this by the national media but it's not
illegal, just sleazy. I think it was CBS that showed that many items were
actually 10% more during the sale than they had been the week before.
I feel for the landlords at the San Mateo Pavillions and Cottonwood Corners. They each lost Linens and Things and now Circuit City, plus the Pavillions lost Comp USA about a year ago as well. It will be tough to find replacements for such large spaces in the immediate future, but when they do I hope it is something new to the city.
You called it finmqa1. Thanks for the heads up Mike! Interestingly, if you go to their site, all you get is a splash page that says they're updating their site with new products and special offers.
Probably updating the prices on the site so when people go to look they go WOW look at the savings I am making.
I remember CompUSA did the same thing, they had a Mac Book Dual Core (Nor core 2) demo on the shelf selling for $1100-1200, Apple store had the core 2 version for about same price. Sad thing was - someone bought it.
It will be tough to find replacements for such large spaces in the immediate future, but when they do I hope it is something new to the city.
Yeah, not a good time to be trying to rent out big-box locations...
I think that when the current mess finally ends, (whenever that will be),
there are going to be some permanent cultural changes in how people look
at being locked into an expanding and unrelenting consumer economy.
Even if disposable family income and available credit return to their previous
levels, the attitude of the people will be more cautious and less "BUY! BUY!
BUY!" oriented for a long time to come. Some of those big boxes may become
the kind of youth centers that cities so desperately need and rarely invest in.
That would put a bit of a silver lining to this mess...
Mike! SOLID suggestion! The old saying "bigger isn't always better" applies here." I've supported mom and pop businesses for decades. There is something to be said for personal service. It's unfortunate however, that people will be laid off their jobs.
I never bought cd's or dvd's there, the only thing I ever bought was a car stereo and had it installed for free.
Mike is right, a lot of changes are coming down the pike with businesses like Circuit City. Even the hobby businesses (record stores, book stores, sports memorabilia shops, etc.) are really tightening their belt. The economy continues to go south. Sad.
Here in TX, I think Circuit City was done in by Best Buy. Mike, I think your assessment is correct. My mother lived through the Great Depression and has always had a Depression-era mentality concerning money. I used to think she was unnecessarily frugal, but it makes more sense every day.
One of things that hurt them also was the bright idea they had two years ago. They got rid of a lot of their middle management and replaced them by upgrading entry level workers. Those messages about how you treat your employees will follow you. You reap what you sow.
Maybe a supermarket could move in there.. I mean, where's the nearest supermarket to there? Maybe something like a Sunflower Market or Wild Oats/Whole Foods?
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