Retailers, consumers and prices
Rivals try to profit at Circuit City’s expense
Regional chain hhgregg is accepting Circuit City gift cards for purchases of electronics, appliances and mattresses at its stores. The Circuit City gift card value, when verified, will be good toward up to 20 percent of the hhgregg purchase price.
Hhgregg launched the promotion before the Thanksgiving Day holiday but said on Tuesday that it was being extended through Super Bowl Sunday weekend, which ends Feb. 1.
“We are continuing this promotion as a way to demonstrate hhgregg’s superior customer service and to assist those who may be impacted by other retailer’s store closures,” hhgregg marketing Vice President Jeff Pearson said in a statement.
Meanwhile, RadioShack has broadcast radio ads in Atlanta, a market where Circuit City is closing most stores, urging shoppers to come to its outlets to buy digital cameras, mobile phones and GPS systems.
“Times are tough so this holiday season, put your trust in a store that you know will be around,” the speaker on the RadioShack ad says.
Circuit City filed for bankruptcy protection last month and is hoping to emerge from Chapter 11 in the first half of 2009. The retailer is holding liquidation sales at 155 of its about 720 U.S. stores in big cities such as Phoenix and Atlanta.
A RadioShack spokeswoman declined to comment on the company’s radio ads. A Circuit City spokesman declined to comment on the actions by rivals.
(Photos\Circuit City, hhgregg)