The way these buildings were built tell you they weren't intended to be around for long. Four cinder block walls and a flat metal roof. Cheap to put up, easy to tear down
this post was submitted on 26 Sep 2024
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Empires bought by investment groups that fire all the employees, sell all the assets, and over leverage on too much debt till bankruptcy.
1 of the three was killed to make some hedge fund richer. Toys r us would not have died if it hadn't been shorted in to oblivion.
Why did Best Buy survive buy Circuit City went under? They were basically the same thing, so what did they do differently?
Circuit City blew all their money trying to create a disposable DVD called Divx. It was intended to replace video rental stores.
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Circuit City's management made several consecutive catastrophic fuckups which ultimately led to the company's demise. The most widely publicized one was firing all of their experienced staff and attempting to backfill all of those positions with minimum wage newbies. This obviously backfired spectacularly.
They also dropped a stable, profitable high-margin product category (appliances) to focus on an unstable, low-margin category instead (TV's and personal electronics).
They also invested heavily into selling loads of televisions. They stocked up on TVs for the holiday season using purchase orders (basically using an IOU to pay back later), but when they were stuck with all thier unsold stock they folded since they couldn't pay those bills.
Oh and Best Buy owes its survival to investing heavily into cell phone plans and contracts. They would've folded without it.
Even now they get lots of company kickbacks from Sony, Samsung, Apple, Sonos, etc to be a showroom for stuff.
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As someone that shopped at both, but preferred Circuit City, I think Best Buy initially did a better job of "wowing" customers and had a better store layout. They also were better at trying to squeeze money out of people and thus were more profitable than Circuit City, so when times got leaner they survived and then had the whole market.
I think it's a Highlander scenario, there can only be one.
I met a traveller from an antique land,
Who said—“Two vast and trunkless legs of stone
Stand in the desert. . . . Near them, on the sand,
Half sunk a shattered visage lies, whose frown,
And wrinkled lip, and sneer of cold command,
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them, and the heart that fed;
And on the pedestal, these words appear:
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
Nothing beside remains. Round the decay
Of that colossal Wreck, boundless and bare
The lone and level sands stretch far away.”
Great, now I've got to go watch "The Ballard of Buster Scruggs" again
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Once again “the earth” is supposedly synonymous with “that one country in North America”…
Yeah, ToysRUs is alive and well in Canada. I have no idea that the bottom-right one is.
Circuit City
It’s true. North America does in fact exist on planet earth.
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You can blame BCG and shitty hedge funds for that
Wasn't that Mitt Romney and Trump's Secretary of the Treasury? (I forget his name.) But I remember him looking like a Bond villain.
you mean Munchkin?
Look up on my works ye mighty and despair
"Fun" fact: Bain Capital killed both TRU and KayBee Toys.
That graphic in the second link, holy shit
Yeah, pretty sad to see. Shopping at all the different department stores was pretty cool back then. But now it's all Macy's.
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K-Mart needs to be added to this
I miss Fry's Electronics Stores
We still have one in Illinois but I'm not sure how it's still holding on. Used to love going in there. Loads of specialized parts and equipment as well as staff that were super knowledgeable and helpful. But at least we have Microcenter now... Which is like if you took a Fry's and scaled it down and made it work more like a car dealership 😭😭😭
The one in Burbank, CA was awesome. It was done in a 1950s sci-fi movie theme. The outside was made to look like a UFO crashed into it.
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Last time I went to one (2020), the shelves were 80% empty, and what they had was mostly karaoke machines on consignment sale.
It was super depressing.
I miss early 2000s Fry's Electronics. Back when they still cared.
Even 2010s Fry's was a shit show. They always sold out if the ad special of the week. They had random out of stocks that took up huge chunks of the aisles, with a lot of old, undesirable stuff left over. And then they'd give you a hard time with returns.
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I was just gonna say. So many good memories with my dad going to Fry's. The sole reason i went HARD into techie stuff