Sony closing 20 stores in US: Restructuring

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#1 Posted by shawn30 (4367 posts) -

http://www.twice.com/articletype/news/sony-us-restructures-will-close-20-stores/110107

San Diego — Sony Electronics is restructuring “to maintain its competitiveness in an evolving consumer electronics market” in the U.S., and as part of the effort it will shut 20 of its stores.

Sony Electronics confirmed in a statement a total staff reduction of one-third by the end of the calendar year, affecting approximately 1,000 employees across all sites. “In addition, in an effort to further streamline costs and continue focus on existing partner relations, Sony announced the closure of 20 U.S. Sony Stores,” the company said.

Sony said the restructuring is “in line with Sony Corporation’s Feb. 6 earnings announcement outlining an estimated headcount reduction of roughly 5,000 employees globally.”

“While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth,” said Mike Fasulo, president and COO of Sony Electronics, in a statement. “I am entirely confident in our ability to turn the business around, in achieving our preferred future, and continue building on our flawless commitment to customer loyalty through the complete entertainment experience only Sony can offer.”

Sony said in its statement it “continues to drive its industry leadership in premium products across all of CE, including all-things 4K, and further plans to reinforce its market leadership through strengthening its 4K product lineup and bolstering 2K models in 2014, with a continued commitment to the future success of its U.S. television business.”

Sony said it “will place an increased focus on its premium products — including its digital imaging line, high-resolution audio and full suite of professional solutions — while leveraging its strengths in hardware, content and gaming.”

Twenty stores in the U.S. are closing: Tysons, Va.; University Village, Wash.; Galleria Dallas, Texas; Forum Shops, Nev.; Pentagon, Va.; Boca Raton, Fla.; Menlo Park, N.J.; Las Americas, Calif.; Camarillo, Calif.; Aurora, Ill.; Gilroy, Calif.; Central Valley, N.Y.; Wrentham, Mass.; Pleasant Prairie, Wis.; San Marcos, Texas; Cherry Creek, Colo.; Dolphin, Fla.; Century City, Calif.; Valley Fair, Calif.; and Comcast, Pa.

Eleven stores remain open, including its New York City flagship store and its SPE store at the Culver City, Calif., studios.

Sony operated 44 retail stores at the chain’s peak in 2008, excluding outlets, and was the 20th largest CE retailer in 2012, according to TWICE’s Top 100 rankings. Sales totaled $829 million, down 7 percent from the prior year, as the company began closing locations.

Sony did not provide further details on other organizational changes regarding this announcement.

****

People losing their jobs suck, but to keep the company going tough decisions have to be made. Still sad though. Sony is in deep trouble, but they are making moves to get out of it.

#2 Posted by DaBrainz (7673 posts) -

Never heard of a Sony store. The only reason I look at Sony stuff is to confirm how much better Samsung stuff is.

#3 Edited by clyde46 (46551 posts) -

Lots of companies are doing this.

#4 Posted by noodlevixen (480 posts) -

There are Sony stores? Wtf

#5 Posted by shawn30 (4367 posts) -

@clyde46 said:

Lots of companies are doing this.

Yeah, its the sign of the times, but not everyone is in as bad a shape as Sony is. Still a sad thing and never mind my thoughts on the PS4, I hope they can turn things around before more people lose their jobs. There's no fanboyism in 5000 jobs lost. That's terrible.

#6 Edited by Ghost120x (3909 posts) -

Sony had stores in US? Wow! They must not be where I live because where I live not many people are tech savy and only care about beer and cardinals baseball. In fact, in the city where I live, we got our first Microsoft store in the area this year lol.

#7 Edited by Chutebox (37345 posts) -

Smart move, but sucks for those working, obviously.

Brick and mortar can suck it!

#8 Edited by ReadingRainbow4 (14401 posts) -

Tough times for everybody. Thanks Obama.

#9 Edited by lamprey263 (24130 posts) -

Sony stores I've been to aren't anything special. They seem to exist to create more exposure than to actually make money by themselves, and they don't constantly give away shit like the MS stores do.

#10 Posted by kuu2 (7359 posts) -

There should be a sticky for Sony's bad financial news that will be going all month long up until their fiscal report comes out in April. I don't think we have gone a week without there being some sort of bad financial news for this company.

I just wonder what will happen to the PauperStation brand? They need to stay around so MSoft is kept honest but I really can't think of a company that would want the brand really.

#11 Posted by tdkmillsy (1399 posts) -

isn't Microsoft opening more stores.

Just saying

#12 Posted by clyde46 (46551 posts) -

@shawn30 said:

@clyde46 said:

Lots of companies are doing this.

Yeah, its the sign of the times, but not everyone is in as bad a shape as Sony is. Still a sad thing and never mind my thoughts on the PS4, I hope they can turn things around before more people lose their jobs. There's no fanboyism in 5000 jobs lost. That's terrible.

Sony are finally adjusting to the times. Its hurting but that is what a big company has to do to stay competitive.

#13 Edited by ReadingRainbow4 (14401 posts) -

@kuu2 said:

There should be a sticky for Sony's bad financial news that will be going all month long up until their fiscal report comes out in April. I don't think we have gone a week without there being some sort of bad financial news for this company.

I just wonder what will happen to the PauperStation brand? They need to stay around so MSoft is kept honest but I really can't think of a company that would want the brand really.

And we don't have a day go by without more terrible news about Xbox.

#14 Posted by FoxbatAlpha (7403 posts) -

They closed one last year in the Outlet Mall by me. So that number is higher than the 20 that are planned for closure.

Sony doing a good job of hiding the facts of doom from investors will soon catch up to them.

Loosing games to cancelations and delays, first party studios laying off people, selling buildings, closing retail locations all point to the writing on the wall. "Going out of business".

#15 Posted by FoxbatAlpha (7403 posts) -

@kuu2 said:

There should be a sticky for Sony's bad financial news that will be going all month long up until their fiscal report comes out in April. I don't think we have gone a week without there being some sort of bad financial news for this company.

I just wonder what will happen to the PauperStation brand? They need to stay around so MSoft is kept honest but I really can't think of a company that would want the brand really.

I wonder how this will impact FogFamous: Son of no Shadows? Or what about Gears of Order: 1886-2006?

I just had to.

#16 Edited by kuu2 (7359 posts) -

@ReadingRainbow4 said:

@kuu2 said:

There should be a sticky for Sony's bad financial news that will be going all month long up until their fiscal report comes out in April. I don't think we have gone a week without there being some sort of bad financial news for this company.

I just wonder what will happen to the PauperStation brand? They need to stay around so MSoft is kept honest but I really can't think of a company that would want the brand really.

And we don't have a day go by without more terrible news about Xbox.

Yep lots of rumors about MSoft no doubt, but actual facts about Sony...........

Elop rumor of being CEO

Gears rumor of coming to the PauperStation4

Amazon rumor of purchasing the Xbox brand

Lots of rumors.......

Meanwhile in Sony Land, the ship is sinking, the deck chairs are being rearranged, people are being fired, employees are leaving in droves, and games are getting canned.

#17 Edited by ReadingRainbow4 (14401 posts) -

@kuu2 said:

@ReadingRainbow4 said:

@kuu2 said:

There should be a sticky for Sony's bad financial news that will be going all month long up until their fiscal report comes out in April. I don't think we have gone a week without there being some sort of bad financial news for this company.

I just wonder what will happen to the PauperStation brand? They need to stay around so MSoft is kept honest but I really can't think of a company that would want the brand really.

And we don't have a day go by without more terrible news about Xbox.

Yep lots of rumors about MSoft no doubt, but actual facts about Sony...........

Elop rumor of being CEO

Gears rumor of coming to the PauperStation4

Amazon rumor of purchasing the Xbox brand

Lots of rumors.......

Meanwhile in Sony Land, the ship is sinking, the deck chairs are being rearranged, people are being fired, employees are leaving in droves, and games are getting canned.

I think that might just be selective reading on your part.

#18 Posted by cainetao11 (17692 posts) -

@shawn30 said:

@clyde46 said:

Lots of companies are doing this.

Yeah, its the sign of the times, but not everyone is in as bad a shape as Sony is. Still a sad thing and never mind my thoughts on the PS4, I hope they can turn things around before more people lose their jobs. There's no fanboyism in 5000 jobs lost. That's terrible.

I agree. These are tough times for this company. And its sad to see people lose their income. I buy PS consoles and will do my part based on what I like to experience in gaming.

#19 Posted by billing (633 posts) -

@clyde46 said:

Lots of companies are doing this.

There's a lot of companies doing bad.

#20 Posted by KBFloYd (13793 posts) -

@ReadingRainbow4 said:

Tough times for everybody. Thanks Obama.

obama is the president of japan?

#21 Posted by ReadingRainbow4 (14401 posts) -

@KBFloYd said:

@ReadingRainbow4 said:

Tough times for everybody. Thanks Obama.

obama is the president of japan?

It's called a domino effect. Sony's also a worldwide company, they aren't just based in japan.

#22 Posted by FoxbatAlpha (7403 posts) -

Here is some more Red Light sales going on at Sony. Just released.

http://www.utsandiego.com/news/2014/feb/26/Sony-layoffs-Vaio-Sony-Style-Stores/

#23 Posted by FoxbatAlpha (7403 posts) -

@ReadingRainbow4 said:

@KBFloYd said:

@ReadingRainbow4 said:

Tough times for everybody. Thanks Obama.

obama is the president of japan?

It's called a domino effect. Sony's also a worldwide company, they aren't just based in japan.

You be nice when you own Princess Peach!!!

#24 Edited by kuu2 (7359 posts) -

@FoxbatAlpha said:

@kuu2 said:

There should be a sticky for Sony's bad financial news that will be going all month long up until their fiscal report comes out in April. I don't think we have gone a week without there being some sort of bad financial news for this company.

I just wonder what will happen to the PauperStation brand? They need to stay around so MSoft is kept honest but I really can't think of a company that would want the brand really.

I wonder how this will impact FogFamous: Son of no Shadows? Or what about Gears of Order: 1886-2006?

I just had to.

Awesome!!!!

The funny thing is most Cows have no sense of humor about anything PauperStation negative so it will be lost on them. They will probably get angry.

#25 Edited by ReadingRainbow4 (14401 posts) -

@FoxbatAlpha said:

Here is some more Red Light sales going on at Sony. Just released.

http://www.utsandiego.com/news/2014/feb/26/Sony-layoffs-Vaio-Sony-Style-Stores/

Removal of the Vaio brand is not new at all. It's kind of common sense it would result in job losses.

#26 Edited by cantloginnow (229 posts) -

Goodbye Sony.The PS4 is screwed too when the hype dies down,people realize there's no games and 1080p is a fancy way for Sony to hype High res turds.

#27 Posted by WilliamRLBaker (28421 posts) -

.....but...sheens you said Sony never fires anyone, never cancels games, never sells ip's, and never closers studios and or stores...

#28 Posted by kuu2 (7359 posts) -
@ReadingRainbow4 said:

@kuu2 said:

@ReadingRainbow4 said:

@kuu2 said:

There should be a sticky for Sony's bad financial news that will be going all month long up until their fiscal report comes out in April. I don't think we have gone a week without there being some sort of bad financial news for this company.

I just wonder what will happen to the PauperStation brand? They need to stay around so MSoft is kept honest but I really can't think of a company that would want the brand really.

And we don't have a day go by without more terrible news about Xbox.

Yep lots of rumors about MSoft no doubt, but actual facts about Sony...........

Elop rumor of being CEO

Gears rumor of coming to the PauperStation4

Amazon rumor of purchasing the Xbox brand

Lots of rumors.......

Meanwhile in Sony Land, the ship is sinking, the deck chairs are being rearranged, people are being fired, employees are leaving in droves, and games are getting canned.

I think that might just be selective reading on your part.

Or, we just differ on what would be terrible news.........

#30 Edited by kingtito (5001 posts) -

@ReadingRainbow4 said:

@kuu2 said:

There should be a sticky for Sony's bad financial news that will be going all month long up until their fiscal report comes out in April. I don't think we have gone a week without there being some sort of bad financial news for this company.

I just wonder what will happen to the PauperStation brand? They need to stay around so MSoft is kept honest but I really can't think of a company that would want the brand really.

And we don't have a day go by without more terrible news about Xbox.

Of course you cows think "bad" news for the XOne is something like a price drop. So yeah keep that XOne "bad" news coming.

#31 Edited by lostrib (37484 posts) -

Both the Sony and Microsoft stores just seem like a waste of space

#32 Posted by ReadingRainbow4 (14401 posts) -

@lostrib said:

Both the Sony and Microsoft stores just seem like a waste of space

Yeah I feel the same way, I never visit any of them, even apple although I'm sure the apple stores do well based on Trend setting alone.

#33 Posted by kuu2 (7359 posts) -

@lostrib said:

Both the Sony and Microsoft stores just seem like a waste of space

I actually like the classes that MSoft offers at their stores and they will help trouble shoot PCs and tablets even if you didn't buy them there. Plus if you do buy a large electronic device from there they have some of the most affordable warranties around. It is a direct ripoff from Apple but I like having one in my city.

#34 Edited by Animal-Mother (26962 posts) -

@shawn30 said:

@clyde46 said:

Lots of companies are doing this.

Yeah, its the sign of the times, but not everyone is in as bad a shape as Sony is. Still a sad thing and never mind my thoughts on the PS4, I hope they can turn things around before more people lose their jobs. There's no fanboyism in 5000 jobs lost. That's terrible.

Everyone has been saying sony is in terrible shape since 08.

http://www.ign.com/articles/2014/02/06/strong-ps4-sales-boost-sony-game-division-profit

http://www.craveonline.com/gaming/articles/641919-successful-ps4-launch-sees-sonys-gaming-profits-rise-by-64

http://blogs.wsj.com/digits/2014/02/06/first-take-on-sony-earnings-not-all-bad/

#35 Posted by kuu2 (7359 posts) -

@Desmonic said:

Well, they only sell phones/tablets and consoles now, right? They've let go of PC's, TV and whatnot. Hardly seems worth the cost to maintain dedicated stores. Heck, didn't even seem worth the cost before to be honest.

Hopefully those guys and gals losing their jobs will find something soon enough. That is always a bad thing, no matter who it is.

Very good point. If half of your products are no longer there especially high dollar/margin ones no need for a retail location. Plus the trend of going into a store to purchase electronics in small form factor is pretty much over.

#36 Edited by Puggy301 (160 posts) -

I absolutely do not like seeing people lose their jobs, but is it really necessary for a company like Sony to even have a brick and mortar presence anywhere to sell their products?

#37 Edited by Bikouchu35 (7451 posts) -

Sad, I liked the Century city location too :(

#38 Posted by TigerSuperman (2383 posts) -

They (were) not as bad as Microsoft stores though, and were easier to find. Now it's the other way around.

#39 Posted by KBFloYd (13793 posts) -

@FoxbatAlpha said:

@ReadingRainbow4 said:

@KBFloYd said:

@ReadingRainbow4 said:

Tough times for everybody. Thanks Obama.

obama is the president of japan?

It's called a domino effect. Sony's also a worldwide company, they aren't just based in japan.

You be nice when you own Princess Peach!!!

ha

#40 Posted by shawn30 (4367 posts) -

@FoxbatAlpha said:

@kuu2 said:

There should be a sticky for Sony's bad financial news that will be going all month long up until their fiscal report comes out in April. I don't think we have gone a week without there being some sort of bad financial news for this company.

I just wonder what will happen to the PauperStation brand? They need to stay around so MSoft is kept honest but I really can't think of a company that would want the brand really.

I wonder how this will impact FogFamous: Son of no Shadows? Or what about Gears of Order: 1886-2006?

I just had to.

Infamous just seems like a forgotten game, sadly. Even Cows don't talk about it unless a new screenshot is revealed. The ORDER OF Gears: War in 1886 is an interesting title though:)

#41 Posted by blackace (20858 posts) -

@shawn30: OUCH!!! Sony is seriously downsizing this year. Let's see what has happened so far this year.

1. Sony sells their PC/Laptop division to JIP and lays off 5000 workers. http://www.gamespot.com/articles/sony-selling-pc-business-reforming-tv-unit-and-laying-off-5-000-people/1100-6417558/

2. Sony restructuring HDTV Division. Spins it off into a seperate business. http://www.reuters.com/article/2014/02/06/us-sony-results-idUSBREA150AK20140206

3. Sony lays off developers at Santa Monica Studios - http://www.gamesindustry.biz/articles/2014-02-25-layoffs-at-sony-santa-monica

4. Now Sony is closing 20 Sony Stores and laying off another 1000 employees. - http://www.twice.com/articletype/news/sony-us-restructures-will-close-20-stores/110107

This doesn't even include last years selling of 2 HQ buildings and selling $300+ in company stocks. Sony must be seriously hurting for money if they are making all these large cuts and layoffs. Can Kaz save them before the year is over?

#42 Posted by MrYaotubo (2709 posts) -

Closing stores,closing studios,selling buildings...interesting times for sony.

#43 Posted by blackace (20858 posts) -

@noodlevixen said:

There are Sony stores? Wtf

LMAO!! There are APPLE and MICROSOFT stores as well. You didn't know this?

#44 Edited by Shewgenja (9591 posts) -

Well, hey, when you can't talk about gaming I guess a thread bagging retail stores will do. Good job!

#45 Posted by mario-galaxys (614 posts) -

What does this has to do with System Wars?

#46 Posted by AmazonTreeBoa (16745 posts) -

I never knew Sony had any stores. Never seen one, so nothing changes for me.

#47 Edited by blue_hazy_basic (27858 posts) -

@lamprey263 said:

Sony stores I've been to aren't anything special. They seem to exist to create more exposure than to actually make money by themselves, and they don't constantly give away shit like the MS stores do.

They had some cool setups in the one I went to except for the plum guy working there who insisted that wireless speakers were impossible.

TBH dedicated stores seem a bit pointless.

#48 Posted by Heil68 (45080 posts) -

The good news just keeps rolling in for SONY. Kaz is a man on a mission...the by gamers for gamers mission since GAMEs are a PILLAR of SONY.

#49 Posted by mems_1224 (47229 posts) -

Ouch, looks like Sony is trying to put out the fire with gas. IDK if they can recover from this.

#50 Posted by shawn30 (4367 posts) -
@Animal-Mother said:

@shawn30 said:

@clyde46 said:

Lots of companies are doing this.

Yeah, its the sign of the times, but not everyone is in as bad a shape as Sony is. Still a sad thing and never mind my thoughts on the PS4, I hope they can turn things around before more people lose their jobs. There's no fanboyism in 5000 jobs lost. That's terrible.

Everyone has been saying sony is in terrible shape since 08.

http://www.ign.com/articles/2014/02/06/strong-ps4-sales-boost-sony-game-division-profit

http://www.craveonline.com/gaming/articles/641919-successful-ps4-launch-sees-sonys-gaming-profits-rise-by-64

http://blogs.wsj.com/digits/2014/02/06/first-take-on-sony-earnings-not-all-bad/

Only goes to show how long they've been bleeding before they finally stepped in to do drastic measures. There's a reason a number of financial analysts think Sony could possibly go bankrupt in 2 years. Its not lemmings making this shit up, lol. They are in very bad shape. We'll know in a year if they can turn it around. Sad though for over 5000 people losing their jobs.