By karl vilacoba
Staff Writer
VERONICA YANKOWSKI Cablevision Systems Corp., parent company of electronics chain The Wiz, announced last week that it planned to exit the consumer electronics business. The Brick store, and all other Wiz locations, will close if a buyer is not found.
BRICK — Their longtime slogan was "Nobody beats the Wiz," but customers and neighboring shopkeepers at the chain’s Brick location contend just the opposite.
Parent company Cablevision Systems Corp. announced last week that it plans to exit the electronics business this year, leaving the future of 17 remaining Wiz stores in doubt. Cablevision will attempt to sell the stores or close them if no buyer is found, according to a statement on the company’s Web site.
"The Wiz made a number of changes to its business to improve customer service, while continuing to evaluate its performance and strategy. However, continuing to operate the stores is no longer a viable option for Cablevision as business conditions at the retailer eroded due to a weakened retail economy and other factors," the statement said.
The company attempted to refocus its operations in August by closing 26 unprofitable stores, including one at Monmouth Mall, Eatontown. One of the remaining 17 stores is in the Brick Shopping Plaza, Route 70 and Chambers Bridge Road.
Shoppers at the plaza felt that local competitors offered lower prices and more variety than The Wiz.
"They were a product line — they had everything but what you wanted," said Don Garretson, of Lakewood. "Some of the newer stores like Costco’s had better prices, better products, and The Wiz just wasn’t competing anymore."
The Brick Shopping Plaza is home to several major corporate chains, such as Barnes & Noble, the Sports Authority, The Bon Ton, Applebee’s and the Loews Cineplex, which tend to draw their own clientele. Some smaller stores do exist in the mall, but their employees said they are confident their businesses won’t be strained if the store departs.
"I don’t think the Wiz leaving is going to hurt us at all," said Bobbie Frankowski, a hairdresser at Dina Marie Beauty. "The Wiz didn’t bring a lot of business here."
Co-worker Phyllis Fhindle agreed, noting that she would like to see a department store with a cafeteria move in. The Wiz’s clientele didn’t cross over to the salon, with the exception of holiday shoppers, she said.
Although video game store Funco Land would seem to share some common shoppers, employees there also remained unworried about the situation.
"They redid their video game section, and they redid it nice, but that place was never competition for us," said Funco Land’s Phil Gargiulo. "It’s a shame to see a store go, but I don’t think it’s any reason to be concerned."
Gargiulo termed Funco Land a "specialty shop" that has its own unique draws, such as used video games at discount prices. Many are from older systems like the original Nintendo and Sony PlayStation.
"I think the new stores coming in here — Best Buy, Circuit City, Wal-Mart — they’re newer, brighter and cleaner looking, and people are more excited about them," said Ryan Peterson, also of Funco Land.
Employees of The Wiz declined to comment for this story.
While those at the plaza seemed unfazed, at least one township official was concerned about the prospect of a large vacancy in a mall that comprises one of Brick’s greatest tax ratables.
"We would probably work with the business community to try to help the property owners find another appropriate tenant," said Brick Business Administrator Scott MacFadden.
The Applebee’s restaurant in the complex was an example of that approach’s success, he said.
"I would be surprised to see [the Wiz store] stay vacant for long. And if it did, I believe it would be a telling indicator on the health of the economy," MacFadden said.