As you know, big-box retailers aren’t in great shape. Shoppers are spending billions of dollars online, including $105 billion this past Christmas, so those expensive-to-operate brick-and-mortar stores have been shutting down for years.
Recently, Wal-Mart announced that it’s closing hundreds of stores. Radio Shack is out of business, and that came after big-name retailers went kaput, like CompUSA.
Yet, one big-box retailer is making a comeback. Circuit City, which in 2009 liquidated its assets and shut down its hundreds of locations, is about to pop back on the scene.
A group of investors plans to bring it back as a streamlined, smaller store geared to young adults, the millennial generation. (See photo.) It will sell new tech, like drones, smartphones and 3-D printers.
The comeback plan, which emerged at the recent International Consumer Electronics Show in Las Vegas, is for its first new location to open in Dallas this summer. Ultimately, there will be up to 300 Circuit City locations around the country and, of course, an online shopping site, CircuitCity.com.
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