Future Shop to close 5 stores in U.S. Northwest

Article Abstract:

Future Shop Ltd. plans to close four stores in Utah, located in Salt Lake City, Orem and Layton, and another in Portland, OR. The closing of the stores is part of the company's effort to cut losses from its US operations. Future Shop, Canada's biggest electronic products retailer will take a onetime charge of US$10 million in the second quarter in connection to the closing of the stores. According to the company's chief financial officer, Gary Patterson, although the Utah stores contributed 14% to the company's total US sales of $509-million in fiscal year ended Mar. 31, 1998, they also accounted for 30% of total losses within the entire US operations.

Comment:

Plans to close four stores in Utah, located in Salt Lake City, Orem and Layton, and another in Portland, OR

Computer Stores, Computer and Software Stores

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Intrawest posts loss, unveils big project

Article Abstract:

Vancouver, Brit Colum-based Intrawest Corp., a rapidly-expanding operating firm for winter resorts, is poised to start a six-year, approximately-$400-million project to renovate its Copper Mountain winter resort in Colorado. Intrawest is looking to improve its Copper Mountain facility in an effort to put it at par with its world-famous Tremblant and Whistler winter resorts. The upgrading project for Copper Mountain, which will be finished by the year 2005, is a component of Intrawest's efforts to transform its assets that are market underperformers.

Comment:

Is poised to start a six-year, approximately-C$400-mil project to renovate its Copper Mountain winter resort in CO

Colorado, Skiing Facilities, Ski Areas, Intrawest Corp.

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Future Shop to sell 23 money-losing U.S. stores

Article Abstract:

Future Shop Ltd plans to liquidate its 23 unprofitable retail chains in the northwestern US, which are managed by its Seattle, WA-based unit, Future Shop Inc. After selling the affected stores in Montana, Idaho, Oregon and Washington, the company will lay off the US unit's 1,100 employees. Future Shop, the biggest retailers of electronic products in Canada, plans to set its sight on increasing sales and expanding product lines at its money-making chains located north of the border.

Asset sales & divestitures, Radio, TV, Music, Electronics Stores

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