Sony announced that it is shuttering 20 of its 31 stores located throughout the states. Remaining 11 stores are located close to major markets. The company's press release states, this step is designed to place the Sony more competitive position. This unloading unprofitable units left and right, trying to right the ship capsizing and sell off its PC business just last month.
Sony announced that it
is shuttering 20 of its 31 stores located throughout the states. Remaining 11
stores are located close to major markets. The company's press release states,
this step is designed to place the Sony more competitive position. This
unloading unprofitable units left and right, trying to right the ship capsizing
and sell off its PC business just last month. The company has eliminated more
than 12,000 positions over the past two years. These store closings will kill
additional 5,000 jobs.
"While these moves were extremely tough, they
were absolutely necessary to position us in the best possible place for future
growth," said Mike Fasulo, President and COO
of Sony Electronics. "I am entirely confident in our ability to turn the
business around, in achieving our preferred future, and continue building on
our flawless commitment to customer loyalty through the complete entertainment
experience only Sony can offer."
Sony clearly looking
for any way to reduce their liabilities and the amounts. Although it has been
in retail stores for more than a decade, shops never took off despite the fact
that in 2011 rebranding. They used to be called Sony Style stores were awash in
Sony products. They were living stores designed to showcase the product, rather
than sell it.
