End of an Era
On February 24 the management of Frys Electronics (pvt), the 13th largest Consumer Electronics retailer in the US, notified its employees, suppliers, and customers that it would immediately cease operation in all of its 31 stores and website, ‘as a result of changes in the retail industry and the challenges posed by the COVID-19 pandemic.” The company, which generated slightly more CE sales than Staples (SPLS) in 2019, was known for its unusual themed stores, which began in Sunnyvale, California in 1985 and grew to a peak of 34 stores in 2019.
The CE big box retailer began when the Fry brothers were each given $1m after their father sold his supermarket business, and joined together to open the first store, which was loosely based on the same principals as the grocery business, with a wide variety of products from microprocessors to technical books. In fact, the early store also sold groceries in the early days (“chips & chips”) but essentially competed with Radio Shack (pvt) and Circuit City (defunct) and more currently Newegg (002280.CH).
The CE big box retailer began when the Fry brothers were each given $1m after their father sold his supermarket business, and joined together to open the first store, which was loosely based on the same principals as the grocery business, with a wide variety of products from microprocessors to technical books. In fact, the early store also sold groceries in the early days (“chips & chips”) but essentially competed with Radio Shack (pvt) and Circuit City (defunct) and more currently Newegg (002280.CH).
  |   |
Fry's Interior & Exteriors - Source: Jddg5wa via imgur.com, Fry's
RSS Feed