Yet another company is suffering from the bad economy. Logitech announced that sales were down in Q3 2009. Sales amounted to $627 million, a decrease of 16% compared to $744 million in the same quarter last year. In addition to them reducing their operating expenses, they will be cutting back about 600 employees. The beleaguered company will be restructuring over the next year and has hopes that it will see results beginning in 2010.
Read More | Logitech
With all the rumblings about the economy going on recently, I asked a retailer friend the other day how that was affecting his shop. And he gave me the following anecdote, which I’ll paraphrase:
The other day, one of my box customers came into the shop and asked to see his pull list. After crossing off about half the titles on the sheet, he handed it back to me and then asked with a straight face: “So, how’s this economy treating you?”
My friend, good retailer that he is, didn’t actually react as I might have, which probably would have been to leap over the counter and try to strangle the guy.
With maybe the exception of the recent Obama issue of Amazing Spider-Man, which looks to be selling for ridiculous amounts on ebay, it’s tough to see how comics retailers wouldn’t be affected just like everybody else by the economic downturn. But it’s one more reason to support your local comic shops right now to help keep folks in business for the long haul.
While I haven’t cut back much yet, I’m definitely not making as many spur-of-the-moment purchases as I might otherwise do. Of course, it would certainly help if the prices would stop going up.
Read More | Bridge City Comics