Circuit City to close stores, shake up management
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Circuit City Stores Inc.  said on Thursday that it would close a number of stores, cut some jobs and change its management structure as it faces increased pressure in the electronics retail market.
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Circuit City Stores Inc. CC.N, the  No. 2 U.S. electronics retailer, on Wednesday said it failed to  draw in enough holiday shoppers to hit its December sales  estimates, sending its shares down over 6 percent.
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Circuit City Stores Inc. , the No. 2 U.S. electronics retailer, on Wednesday reported a 5.8 percent drop in December sales at stores open at least a year as customer traffic fell below last year's levels.
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In a move possibly intended to shift focus to its efforts in retail stores, computer manufacturer Dell Inc. said that it will shut down its retail kiosks in about 140 malls nationwide.
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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.
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Circuit City Stores Inc , which  is working to turn around its business, has approved cash  awards designed to retain upper-level executives over the next  few years, the electronics retailer said in a federal filing on  Wednesday.
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The Blue Bell, Pa.-based company said it will close some of its facilities and reduce its employee head count.
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Electronics retailer Circuit City  Stores Inc. , which is in the midst of a multiyear effort  to overhaul its business and win back market share, on  Wednesday said it named Bruce Besanko chief financial officer,  effective July 30.
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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.  reported a surprise quarterly loss on Tuesday after it cut prices on hot electronics like flat-panel TVs and computers to lure customers during the holiday shopping season.
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CompUSA has decided to close 126 of the 225 electronics stores it operates in the U.S. and Puerto Rico as part of a massive realignment aimed at cutting costs.
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Circuit City has a plan to turn the company around, but significant challenges remain.
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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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Department store operator Saks Inc. plans to close 11 locations, including the 42-year-old Saks Fifth Avenue in Garden City, the company said Friday.
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Palm plans to close its retail stores in an effort to focus on fewer programs and to compete better, the company says.
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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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Viewpoint: The chairman complains that the chain's atmosphere has changed. Actually, it's worse than that: its stores are now an overdesigned, overcrowded mess