Tweeter Stock Falls as Senior VP Resigns
Judy Quye, senior vice president of sales, operation and installation services for Tweeter, resigns. In the same month, the retail company’s stock falls 15 percent to $2.37 a share. Tweeter President and CEO Joe McGuire steps in to fill her shoes until a replacement can be found. All of this comes at a time when Tweeter has been suffering from poor projection television sales that have more than offset HDTV flat panel revenues. This summer, same-store sales were down 13 percent compared to one year ago. The chain closed 11 stores in Q3, posting a revenue loss of 4 percent compared to the previous year.
Best Buy Scales Back HD DVD and Blu-ray Marketing