CompUSA Restructures Commercial Sales Force; Improved Service To Small And Medium Business Customers.Business Editors & High-Tech Writers DALLAS--(BUSINESS WIRE)--May 30, 2001 CompUSA Inc., America's Largest Computer Superstore su·per·store n. A very large retail store that stocks highly diversified merchandise, such as groceries, toys, and camera equipment, or a wide variety of mechandise in a specific product line, such as computers or sporting goods. (R), today announced a number of measures designed to intensify the focus on its core Retail business and improve service to its commercial customers. The Company recently began focusing its commercial business on the small to medium business sector. Due to the success it has achieved, the Company is transitioning the support of these customers primarily to its nation-wide Retail store base and four newly created national sales groups. These measures will initially result in decreased sales volume due to the discontinuation dis·con·tin·u·a·tion n. A cessation; a discontinuance. Noun 1. discontinuation - the act of discontinuing or breaking off; an interruption (temporary or permanent) discontinuance of unprofitable accounts. "We are confident that this redirection Diverting data from their normal destination to another; for example, to a disk file instead of the printer, or to a server's disk instead of the local disk. See virtual directory, symbolic link, shortcut, redirector and DOS redirection. 1. of our commercial business will provide higher quality service to our customers, with the added benefits of decreasing costs and improving margins," said Hal Compton, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CompUSA. "With the full implementation of our restructuring plan, we expect to recognize increased productivity and operating efficiencies that should result in an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. cost savings of approximately $30 million." This change to the Company's commercial sales model is part of its strategy to heighten height·en v. height·ened, height·en·ing, height·ens v.tr. 1. To raise or increase the quantity or degree of; intensify. 2. To make high or higher; raise. v.intr. the focus on its Retail business. CompUSA continues to adjust its merchandise mix to reflect the emergence of new product opportunities to ensure it is positioned as a technology leader for all of its customers. The Company recently announced a strategic marketing alliance with AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. , which includes reformatting all of its superstores This is a list of superstores by country. Multi-national
Mr. Compton added, "We are very excited about our many Retail initiatives and believe these initiatives will bring more customers into our stores and expand our reputation as the premier shopping destination for innovative products and services." When completed, these initiatives are expected to result in an estimated reduction of 700 team members from the current total of approximately 18,000. The Company currently estimates the after-tax non-recurring charges associated with these initiatives to be approximately $4 million. We anticipate that the bulk of these charges will be recorded in the second quarter ending June 30, 2001. About CompUSA CompUSA Inc. (www.compusa.com) is one of the nation's leading retailers and resellers of personal computers and related products and services. CompUSA Inc. currently operates 218 CompUSA Computer Superstores in 84 major metropolitan markets across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. that serve retail, corporate, government and education customers and includes technical service departments. Many of the stores include classroom training facilities. |
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