Tweeter Home Entertainment Group (Canton, Mass.) — operator of music equipment stores under the Tweeter, etc., Bang & Olufsen, Sound Advice, Big Screen City, Bryn Mawr Stereo & Video, HiFi Buys, United Audio Centers and Douglas TV nameplates — said it will be trimming its expansion plans by at least half in the next fiscal year. Instead, said president and ceo Jeffrey Stone, it will focus on integrating the business it has acquired.
The retailer, which has expanded from 62 to 162 stores in 21 states in the last three years, said it will open 15 to 20 stores in fiscal 2003, which begins in October, rather than the previously planned 40. The company said it has signed leases on 15 locations.
However, Stone said, it expects to add 40 stores in fiscal 2004, 50 in fiscal 2005 and 60 in fiscal 2006.
“We need to spend more time integrating our acquired businesses so that all of our internal operating systems are unified,” Stone said. “We want our store-merchandising plans to be more closely aligned and our marketing efforts consistent across the country.”