Circuit City Takes Hit in Q2

Circuit City Stores Inc., the nation's second biggest consumer electronics store chain, said Thursday it swung to a loss in its second quarter as sales fell. The company lost a reported $62.8 million, or 38 cents per share, in the three months ended Aug. 31 versus a profit of $10 million, or 6 cents per share, in the prior-year quarter. Revenue fell 6 percent to $2.64 billion from $2.82 billion last year. Same-store sales, a key indicator of retailer performance which measures growth at existing stores rather than newly opened ones, fell 7.9 percent. Analysts polled by Thomson Financial had expected a loss of 12 cents per share on revenue of $2.78 billion. Domestic segment sales fell 6.3 percent to $2.51 billion, while same-store sales fell 8 percent. And, to top it off, the company said it expects "continued weakness" in the third quarter.

News source: SiliconValley.com

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19 Comments

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Same thing happens in Radioshack. Apparently its just so they can send you offers and things related to your purchase. Eep. DO NOT WANT.

There's never more than 10 cars in the parking lot of the ones near me. I often wonder how they stay in business.

I don't shop there anymore since buying a receiver from them nearly a year ago and arguing with the employee about giving my name, address, and phone number. He just did want to let it go and didn't understand why I wouldn't give my info. I give you money. You give me box. I walk away happy. I shouldn't have to threaten to leave to complete a transaction.

Best Buy is a much better store. More choice, better brands, and cheaper too. I wouldn't care if Circuit City disappear.

Also the staff there were kinda dumb (in CC) from my experience. The guy tried selling me a $400 item at $1000. And he didnt even realise.

And he didnt even realise

You're calling them dumb?

I hope you realize that. But you didn't.

CC & BB are pretty much the same. I find BB employee knowledge horrible and their customer service skills even worse. At least at CC they seem to care you're buying there.

I had a terrible experience working there as an employee for 6 months, Wasn't paid for 4 weeks when i started, Finally i was paid but the ammount was 5 dollors less then I was quoted an hour . The employees there always acted like immature high-schoolers who always would compete against each other in stupid challenges and pranks. It was terrible, I had a better working experiance at Best Buy.

ive never had a good experience with circuit city either, and i've always had trouble finding sales product, they just never carry much of it.

my other thought is, they just closed a ton of stores along with comp usa, did that have anything to do with these numbers?

I have never had a good experience in CC; the prices are high, the selection is not that great, and the salespeople are annoying. At least in Best Buy they let me shop in peace.

4tehlulz said,
At least in Best Buy they let me shop in peace.

ROFL, tell that to the swarms of WorstBuy chumps at my local store. They swarm on you in packs like they want to be the first to hump you or something...

I hate shopping in Worst Buy. Everyone that walks in is though to be a criminal and they won't stop trying to sell you all the extra crap that you don't want/need. When I go into Circuit City it's a lot less crowded (maybe because everyone is at Worst Buy but whatever) and the employees don't jump down your throat. I only buy things at Worst Buy if they are cheaper or CC doesn't have it, otherwise CC gets my money.

bigl523 said,
I hate shopping in Worst Buy. Everyone that walks in is though to be a criminal and they won't stop trying to sell you all the extra crap that you don't want/need. When I go into Circuit City it's a lot less crowded (maybe because everyone is at Worst Buy but whatever) and the employees don't jump down your throat. I only buy things at Worst Buy if they are cheaper or CC doesn't have it, otherwise CC gets my money.

lol it's like you think you're cool by saying "worst buy" so much. it's kind of childish.

McG said,

lol it's like you think you're cool by saying "worst buy" so much. it's kind of childish.

I think it is the same as typing M$. Which is childish

I am so done with Circuit City. Last month I went to buy a Wii there. They had over 10 in stock but wouldn't sell one to me. They said they had to wait until Sunday (so they could run an ad in the Sunday paper). I know other stores did that as well, but that made me so mad. They had a guaranteed sale plus accessories and 1 or 2 games.

Anyway, I ended up buying 2 at Target a few weeks later....so haha Circuit City.

I got my wii at the local circuit city on launch day as target had an assload of people. I personally have never had any issues with Circuit City.