The 24/7 Wall St.--Channel Checkers Survey: Sirius (SIRI) Retail Sales Trend Down

Siruis (SIRI) may be in the process of successfully reorganizing it balance sheet, but it is still up against what appears to be deteriorating retail store sales.

According to a new 24/7 Wall St.–Channel Checkers survey of 30 Best Buy (BBY) and Radio Shack (RSH) stores, 66% of the locations said they believe sales are down in February compared to January.

Sixty percent of those locations surveyed said unit sales were off. The average amount paid for a Sirius receiver was $173.83. Eighty-three percent of those buying equipment had it activated in the store.  Seventy percent said they will use the equipment in their cars instead of as a standalone device.

Sirius needs the retail channel to do well. With new car sales down, it is losing a large portion of its primary source of new subscribers.

But, it does not look like retail outlets are taking up the slack. Sirius appears to be going from a balance sheet problem to a revenue-based one.

For more surveys on Sirius visit Channel Checkers

Douglas A. McIntyre