CD Warehouse Closes Nine Company-Owned Stores

<b></b>
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Oklahoma City-CD Warehouse Inc. announced that it has closed nine company-owned retail locations in California, Colorado, Florida and Oklahoma. The closings, which were completed prior to the end of the 2000 fiscal year, will result in a one-time charge against earnings of $450,000 in the fourth quarter of 2000. The company will continue to own and operate 64 stores, in addition to the 245 stores owned and operated by its franchisees.

"We view these closings as another positive step in the company's return to profitability," said Christopher M. Salyer, CD Warehouse president and CEO. "Unfortunately, past losses generated by these nine stores have overshadowed the profitability of the other stores owned by the company. By closing these locations and redistributing the inventory to other locations, we are able to eliminate these losses and focus on operating the remaining stores in a profitable fashion." -PR Newswire

More from Entrepreneur

Learn to be a better leader and develop successful marketing and branding strategies with Dr. Patti Fletcher's help.
Book Your Session

For a limited time only, get this bundle of Entrepreneur PressĀ® titles for less than $30 (60% OFF) on our bookstore when you use "LEAP" at checkout.
Buy Now

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.