Circuit City posts qtr loss, withdraws forecast
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Consumer electronics retailer Circuit City Stores Inc.  on Wednesday posted a quarterly loss that it called disappointing and withdrew its earnings forecast, citing a drop in advanced television sales and an uncertain economic environment.
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Circuit City Stores Inc., the nation's No. 2 chain of consumer electronics stores, said Wednesday it will close 19 superstores, five regional offices and a distribution center by the month's end as it attempts to improve its lagging finances.
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The surprise quarterly loss came after Circuit City cut prices on hot electronics like flat-panel TVs and computers to lure customers during the holiday shopping season.
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Consumer electronics retailer Circuit City reported lower-than-expected earnings on Thursday after it cut prices on flat-panel TVs and computers.
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Circuit City Stores Inc  reported  a wider third-quarter loss on Friday as sales fell and its  store changes disrupted business, sending shares of the  consumer electronics retailer plummeting 34 percent in  pre-market trading.
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Circuit City Stores Inc. said Wednesday its December sales rose a disappointing 1.8 percent, while so-called same-store sales fell 5.8 percent, as the nation's second largest consumer electronics retailer failed to draw large crowds of holiday shoppers.
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Lower customer traffic and disappointing desktop computer sales dragged down all-important December same-store sales at Circuit City Stores Inc. by 5.8 percent, "well below" the chain's expectations, its chief executive said yesterday.
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Circuit City Stores Inc., the No. 2 US electronics chain, said yesterday its second-quarter loss narrowed to $11.9 million as the company sold more plasma-screen televisions and benefited from the acquisition of a Canadian retailer.
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Electronics retailer Circuit City Stores Inc. said Thursday it lost $62.8 million in the second fiscal quarter, on lower overall sales and a restructuring.
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Circuit City Stores Inc. CC.N, the  No. 2 U.S. electronics retailer, on Wednesday posted a 5.8  percent drop in December sales at stores open at least a year  as customer traffic fell below year-ago levels.
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Circuit City Stores Inc. (CC.N: Quote, Profile, Research) on Tuesday reported a 2.9 percent gain in quarterly same-store sales but its growth lagged estimates due to a calendar shift and reduced spending through August.
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Circuit City Stores Inc. , on Friday reported a smaller quarterly loss as it kept a tight rein on expenses and demand increased for digital televisions, notebook computers and other popular products.
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Circuit City Stores Inc.   reported an unexpected quarterly loss on Tuesday as the  consumer electronics retailer could not sell enough flat-panel  televisions to offset falling prices.
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Circuit City Stores Inc.  said on Thursday it is closing about 70 stores and that Chief Merchandising Officer Douglas Moore has left the company as it responds to increased pressure in the electronics retail market.
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Withdraws guidance for 2007 Circuit City had a crap first quarter, losing $54.6m, against net income of $6.4m same time last year. Net sales fell 4.3 per cent, driven by a comparable store sales decline of 5.6 per cent. Gross profit margins fell 1.9 per cent on lower merchandise margins and lower take-up of extended warranties.â¦
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Circuit City Stores Inc. CC.N on  Friday reported a smaller quarterly loss as it kept a tight  rein on expenses and demand increased for digital televisions,  notebook computers and other popular products.
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RICHMOND, June 20 -- Electronics retailer Circuit City, which earlier this year cut jobs and restructured in an effort to keep up with competitors, reported a $54.6 million quarterly loss Wednesday and withdrew its financial guidance for fiscal 2008.