TODAY'S NEWS

New Focus, Strategy for Zenith

In part to unveil its newly focused direction as a "sales, marketing, distribution and technology company," Zenith this month invited 800 dealers to Las Vegas to take the wraps off its 1999 product line.

Although Zenith is shedding its manufacturing operations, Zenith Sales president Bill Sims assured dealers that the company will be better positioned as a one-stop-shop supplier to deliver high-demand products in a timely and effective manner.

The new direction includes a strong commitment to big-screen TV sets in both the direct-view and projection categories and a beefed-up assortment of commodity 13" and 19" color sets, which had been constricted in recent years while Zenith struggled to bring production costs in balance with cut-throat retail prices.

Now, Zenith will source products built to its specifications from a variety of manufacturers, including its own parent company LG Electronics.

Sims said LG will manufacture all of Zenith’s large screen direct-view TVs, VCRs and DVD players, while Hitachi manufactures its rear-projection sets, Fujitsu builds its 42W" plasma display panel, Orion makes its TV/VCRs, Daewoo its 13" and 19" sets, and Taylor-White will assemble console TVs. Full story here

CE Dealer Sales Strong For March, First Quarter

Reporting consumer electronics and appliance specialty retailers had strong sales performances for March and the year’s opening quarter, though same-store growth was stronger for national chains than for the regionals. Mass merchants too shared in the demand growth. Here’s a rundown:

Circuit City said it had March sales of $744.2 million at its electronics/appliance retail stores, up 15%. Same-store sales were up 9% for the month.

"The sales trends we enjoyed in fiscal 1999 have extended into fiscal 2000," said CEO Richard Sharp. "We continued to produce strong sales across all product categories"

The Good Guys, which reports sales quarterly, said revenues for the three months ending March 31 totaled $219.1 million, up 5%, while sales for the first six months of fiscal 1999 grew 3% to $513.2. Full story here

TWICE Stock Index Falls Short Of Dow

A bullish end-of-year, tagged by a modest downturn, was then followed by a strong quarter close in a period marked by the rapid rise of the Dow Jones Industrial Average past the historic 10,000 mark, though it closed out the quarter by falling back below that benchmark. And the TWICE Stock Index followed suit, although the performance of industry shares fell short of the Dow. Full story here

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