In sluggish economy, Garner retailer to expand
Posted December 30, 2008 4:11 p.m. EST
Updated March 9, 2009 5:11 p.m. EDT
Raleigh, N.C. — At a time when most companies are looking to scale back because of the tough economy, longtime family-owned Garner TV & Appliance is looking to expand.
Garner TV's general manager, Amgad Saad, says the 32-year-old company wants to expand its clientele by opening a showroom for high-end appliances in the Plantation Point Shopping Center across from Triangle Town Center.
"It's an opportunity for us to be in that North Raleigh and Wake Forest market," Saad said.
Negotiations are still under way, but he says he hopes to open the new store by April.
The sluggish economy, Saad said, has actually been a positive because it helped Garner TV secure the site. Property managers are looking to get spaces filled.
"We found that the negotiation of the lease in this type of economy worked in our favor," he said.
Although he would not be specific, Saad said Garner TV saw record sales in 2007 and that business has been down 10 percent this year.
Even though times are tough and business has been down, he says the lease makes the deal worth it – a key element will be an option to get out of it if the store doesn't meet certain sales goals.
"We feel confident that even if we're not successful, it's still worth the risk," Saad said.
The new 5,700-square-foot facility near Capital Boulevard and Interstate 540 will only showcase products. Orders will be filled from the Garner store.