CANTON, MA-Tweeter Home Entertainment’s sales and earnings slide during its first quarter, as projection-television popularity waned. Same-store sales plunged 10% year over year during the period, which ended Dec. 31, while total revenue slid 12%, to $234 million.

The retailer’s operating income also took a hit, dropping to $2.8 million from $15.5 million during the same year-ago period. Meanwhile, executives have not made a decision as to how to proceed with 20 to 30 identified underperforming stores in the company’s 153-unit portfolio.

“Our first quarter earnings were defined by the intense competition in the television category,” says Tweeter’s president and CEO Joe McGuire, in a statement. “We sold 33% fewer projection TV sets and experienced a 17% decline in their average selling price.

Management is now considering strategic alternatives to meet “short-term capital needs,” including the “monetization of a federal tax refund or the sale of our investment in Tivoli,” according to a company statement. Tweeter has owned a minority interest in electronics company Tivoli Audio since 2002.

On a brighter note, management says that prototype destination stores that the company is rolling out are outperforming expectations. The latest ones to open, the fourth and fifth in the chain so far, were in Houston and Wilmington, DE; in November.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.