CompUSA to Close 126 Stores in Realignment Plan - ResidentialSystems.com

CompUSA to Close 126 Stores in Realignment Plan

The retailer has made executive leadership changes and has streamlined its store operations.
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Dallas, TX--In an effort to better compete in the changing consumer retail electronics industry, CompUSA recently announced comprehensive changes aimed at improving the company's structure, streamlining operations, and reducing expenses.

As part of CompUSA's realignment strategy, the company will receive a $440 million cash capital infusion. The financial boost will be designated to improve the company's balance sheet.

"Based on changing conditions in the consumer retail electronics market, the company identified the need to close and sell stores with low performance or non strategic, old store layouts and locations faced with market saturation. The process began last week with the closing of four CompUSA stores and over the next 60-90 days, the company will close a total of 126 stores in the United States to focus on initiatives that enhance its top performing locations," said Roman Ross, chief executive officer, CompUSA.

In an effort to improve structure and accountability, Gabriela Villalobos has been named to executive vice president, sales and operations. Villalobos will be responsible for store, services, small business and e-commerce sales. On an interim basis Villalobos will oversee merchandising and marketing. Villalobos has a strong background in sales and operations and her expertise will be instrumental in implementing CompUSA's realignment strategy.

Mike Bryk, formerly vice president of finance and accounting, was promoted to chief financial officer. Bryk has been with CompUSA since 1993 and has filled the role of vice president since 1998.

For more information, visit www.compusa.com.

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