D
Dermot
Guest
I know that we have some Gateway fans out there….I thought this may be of interest.
Rgs
Dermot
PS
Don’t tell Jean that I posting stuff about anyone but Dell
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Gateway To Shut All Of Its Stores
Arik Hesseldahl, 04.01.04, 6:49 PM ET
NEW YORK - Gateway announced its first strategic shift since it acquired privately held Emachines by saying it would close its 188 Gateway Country retail stores and eliminate 2,500 retail sales jobs.
In January, the struggling PC maker bought Emachines in a deal valued at $290 million and Emachines CEO Wayne Inouye took over the corner office of the combined company. Inouye is no stranger to turnaround. He led Emachines following its 2001 delisting from the Nasdaq National Market into a profitable enterprise with sales north of $1 billion for 2003.
As a company competing with Dell (nasdaq: DELL - news - people ), the Gateway (nyse: GTW - news - people ) stores have always been an operational and financial drag, and immediately after the merger closed speculation began that Inouye would shutter the stores. The company reported a loss of $1.62 per share on revenue of $3.4 billion in fiscal 2003. Total PC unit sales declined 24% year over year.
In an interview with us (see: "The Gateway That Could Have Been") John Hui, the Los Angeles entrepreneur who owned Emachines before selling it to Gateway, revealed that he had considered buying Gateway beginning in late 2002, and planned to take it private. Under such a plan, Hui's investment banker, Diana Maranon of Averill Capital, said privatization plans for Gateway included plans to close the stores.
Rgs
Dermot
PS
Don’t tell Jean that I posting stuff about anyone but Dell

_____________________________________________________________________
Gateway To Shut All Of Its Stores
Arik Hesseldahl, 04.01.04, 6:49 PM ET
NEW YORK - Gateway announced its first strategic shift since it acquired privately held Emachines by saying it would close its 188 Gateway Country retail stores and eliminate 2,500 retail sales jobs.
In January, the struggling PC maker bought Emachines in a deal valued at $290 million and Emachines CEO Wayne Inouye took over the corner office of the combined company. Inouye is no stranger to turnaround. He led Emachines following its 2001 delisting from the Nasdaq National Market into a profitable enterprise with sales north of $1 billion for 2003.
As a company competing with Dell (nasdaq: DELL - news - people ), the Gateway (nyse: GTW - news - people ) stores have always been an operational and financial drag, and immediately after the merger closed speculation began that Inouye would shutter the stores. The company reported a loss of $1.62 per share on revenue of $3.4 billion in fiscal 2003. Total PC unit sales declined 24% year over year.
In an interview with us (see: "The Gateway That Could Have Been") John Hui, the Los Angeles entrepreneur who owned Emachines before selling it to Gateway, revealed that he had considered buying Gateway beginning in late 2002, and planned to take it private. Under such a plan, Hui's investment banker, Diana Maranon of Averill Capital, said privatization plans for Gateway included plans to close the stores.