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