|
RadioShack is now Circuit City! (officially)
|
View this Thread in Original format
| starsearcher |
| quote: | Circuit City to Rename Canadian Stores
By STEPHANIE STOUGHTON, AP Business Writer 45 minutes ago
RICHMOND, Va. - Circuit City Stores Inc., the nation's No. 2 chain of consumer electronics stores, said Wednesday it will rename more than 900 Canadian stores now operating under the RadioShack banner.
The name change — to The Source by Circuit City — follows a Texas district court decision against the Richmond retailer. In March, a judge ruled that RadioShack Corp. can end its licensing contract with Ontario-based InterTan Inc., which Circuit City acquired last year.
RadioShack, based in Fort Worth, Texas, spun off the Canadian operations in 1987. But under a licensing deal, InterTan was permitted to sell RadioShack products and use the brand name. RadioShack sued last May, claiming it had the right to terminate the agreement.
The lawsuit came just as Circuit City was wrapping up the acquisition.
The retailer said the stores will be renamed before July 1, as required by the court.
As it rolls out the new name, Circuit City plans a major rebranding campaign that will include television and radio commercials, as well as print and outdoor advertising. On Wednesday, a Toronto store became the first to be renamed.
Bill Cimino, a spokesman for Circuit City, said the retailer estimates costs associated with the rebranding at $16 million. Management expects those expenses will be partially offset by vendor funding and the absence of royalties paid to RadioShack.
Despite moving ahead with the rebranding, Circuit City still plans to appeal the judge's ruling. Among other things, a favorable ruling might allow the InterTan stores to continue selling RadioShack branded products.
"We still plan to vigorously defend our legal rights," Cimino said. "There are reasons why we'd want to fight for the rights we have under the contract."
Circuit City rival Best Buy Co. Inc. is the nation's largest consumer electronics chain.
Shares of Circuit City rose 3 cents to $15.84 in midday trading Wednesday on the
New York Stock Exchange, where they have been trading at a 52-week range of $10.32 to $17.87. |
|
|
|
| Pettiscool |
| hopefully they lower their prices, i hate that place, except they do have everything |
|
|
| preppie chick |
^^^ I used to hate it too!
Not so much anymore, I could be biased, afterall my friend's dad owns one!
I *heart* discounts! |
|
|
| JRinger |
| maybe they'll stop asking for your address and phone number when you buy a pack of batteries now....for warranty purposes only, of course :D |
|
|
| AwakenedAddict |
| I was going to say that I bet they will be less crappy now, but apparently I'm not the only one who feels that way :p |
|
|
| starsearcher |
| hehe I actually hate Radio Shack as well :toothless :toothless :toothless hardly buy anything there, if I can I go over to best buy :happy2: |
|
|
| amb_ |
| I miss the battery club :( |
|
|
| Jem_hadar |
| quote: | Originally posted by preppie chick
^^^ I used to hate it too!
Not so much anymore, I could be biased, afterall my friend's dad owns one!
I *heart* discounts! |
No deals for me :(
I lost/cant find my dock connector to US2.0 cable for my iPody... so i needa order a new one... anyways, i called radio shock, 39.99$
I got online to the apple store (in Cdn $$) and its ning 25$
Scheisse! Whut kinda massive price variance is that!!!!!!!!!!!!!!!!!!!
-j3m- |
|
|
|
|
