Circuit City to Close 19 Stores
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Circuit City Stores Inc.  on Wednesday said it would close 19 superstores, five regional offices and a distribution center by the end of the month, a day after the struggling electronics retailer received a &#36;3.25 billion takeover offer.
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Circuit City Stores Inc., which lost its perch as the nation's top electronics retailer nearly a decade ago, said Monday that it received a takeover bid that could end local management of the 56-year-old Richmond company.
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Circuit City Stores Inc., the nation's No. 2 consumer electronics retailer, said Thursday it plans to close seven domestic Superstores, a distribution center and 62 company-owned stores overseas to cut costs and improve its financial performance.
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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, the second-largest U.S. consumer-electronics chain, said it is cutting about 850 jobs in the United States, on top of 3,400 eliminated in March, as it realigns store management.
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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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Consumer electronics retailer Circuit  City Stores Inc.  plans another round of job cuts,  affecting about 850 store managers and headquarters staff, the  Wall Street Journal reported in its online edition on Thursday.
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Circuit City, still smarting from the vicious price war of the past few months over flat-panel TV sets, yesterday announced plans to close dozens of stores, fire workers and shake up top management.
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RICHMOND -- Holiday shopping might not be enough to save the fourth quarter for struggling electronics retailer Circuit City Stores.
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The chief financial officer of Circuit City Stores Inc.  is leaving the consumer electronics retailer to become finance chief at Petco Animal Supplies Inc., the companies said on Friday.
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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., the nation's No. 2 consumer electronics retailer, said Thursday it plans to close seven domestic Superstores, a Kentucky distribution center and 62 company-owned stores in Canada to cut costs and improve its financial performance.
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Circuit City Stores, the consumer electronics chain, reported a smaller-than-expected loss in the second quarter Friday because of higher sales and fewer
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Circuit City Stores Inc.  reported an unexpected quarterly loss on Tuesday as the retailer cut prices on hot electronics like flat-panel televisions and computers to lure customers into its stores during the holiday shopping season.
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Consumer electronics retailer Circuit City Stores Inc. said Tuesday it swung to a loss in the third quarter as deep discounts on flat-panel televisions and computer hardware and software cut into profit margins. It also lowered its full-year sales outlook and shares fell more than 16 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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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¦