BNET Industries
Circuit City Stores Inc. (CC) is in the Retail Industry
- Revenue
- Feb 29 2008
- $11.7B
- Profit
- Feb 29 2008
- ($319.9M)
- Market Cap
- May 09 2008
- $855.7M
Latest News and Analysis
Circuit City opens books to Blockbuster and Icahn
Circuit City will let Blockbuster conduct due diligence for a possible takeover deal, having received a letter of commitment from the rental giant's largest shareholder, US billionaire Carl Icahn. In the letter, Icahn writes he is ready to buy the electronics retailer in case Blockbuster fails to raise sufficient...
Circuit City to Open Its Books to Blockbuster
By Karen Jacobs ATLANTA (Reuters) - Circuit City Stores Inc (CC) on Friday reversed course and said it would open its books to suitor Blockbuster Inc (BBI) and the movie-rental company's largest shareholder, billionaire investor Carl Icahn. The electronics chain also said Goldman...
Blockbuster in Talks For Stake in Viacom-led Channel: Report
NEW YORK (Reuters) - Blockbuster Inc (BBI) is in talks about taking a stake in the new premium TV channel to be launched by Viacom Inc (VIAb) with Lions Gate Entertainment (LGF) and Metro-Goldwyn-Mayer, the Wall Street Journal said on Tuesday,...
Netflix Q1 Net Up, Gross Profit Margin Down
By Sue Zeidler LOS ANGELES (Reuters) - U.S. online DVD rental company Netflix Inc (NFLX) on Monday posted lower quarterly profit margins as it increased spending for online content. Its shares fell 13 percent in after-hours trading. The company's first quarter earnings were in line...
Blockbuster Weighing Options to Fund Circuit City Bid: Report
NEW YORK (Reuters) - Blockbuster Inc (BBI) is studying options like using Circuit City's (CC) own balance sheet to fund its buyout offer, even as the electronics retailer is asking Blockbuster to prove it can handle an all-cash bid, the Wall...
Pundits on Circuit City: a Blockbuster of a Bad Deal
This week, heads were scratched at the proposed tie-up between Circuit City and Blockbuster. "The world is littered with remnants of bankrupt retailers," Michael Pachter, an analyst with Wedbush Morgan, told Reuters. Others looking for a metaphor have mentioned Sears-Kmart. Uh-oh. Al Lewis of The Denver...
Wattles Says Blockbuster Bid "looks Attractive"
ATLANTA (Reuters) - Investor Mark Wattles, who has nominated five people to the board of Circuit City Stores (CC), on Monday said billionaire investor Carl Icahn was willing to help fund Blockbuster Inc's (BBI) proposed buyout of the electronics chain. "I...
Blockbuster Offers Up to $1.3 Billion For Circuit City
By Karen Jacobs and Sue Zeidler ATLANTA/LOS ANGELES (Reuters) - Blockbuster Inc (BBI) said on Monday it has offered up to $1.3 billion to buy electronics retailer Circuit City Stores Inc (CC), a bid that drew questions and criticism from Wall Street. While...
Daily Dispatch: Circuit City, United Airlines, FedEx, Morgan Stanley
Circuit City reported a steep first-quarter loss and expects more sales volatility in the coming months. The retailer reported declining sales in TVs, DVD players, camcorders, and other key items. Although sales of flat-panel, plasma, and LCD TVs were strong, high gas prices combined with the housing slump...
BNET Daily Dispatch: Qwest, McDonald's, Circuit City, and CrackBerry
A federal jury convicted Joseph Nacchio, former CEO of Qwest Communications, yesterday on charges of insider trading for selling $52 million of the company's shares in 2001. Nacchio sold the shares based on private warnings that the company would miss its sales targets. He faces ten years in prison.McDonald's said...
Circuit City Blew It
Circuit City Blew ItSenior Management and MoraleSenior Management in larger organizations is most often unwilling to eat its own dog food when it comes to any cuts. Few things are more discouraging to an employee than taking cuts or foregoing promised increases while the "big boss" gets new perks or...
Circuit City Blew It
Circuit City executives missed a huge opportunity last week to prove that they too are willing to make sacrifices after they axed 3,400 of its highest-paid employees. If they need to save cash so badly, CEO Philip J. Schoonover could have given back some of his salary or bonus from...
BNET Daily Dispatch: U.S. Steel, Circuit City, TJX, and Discovery
U.S. Steel agreed to buy Lone Star Technologies, whose products are used to line oil and gas wells and build pipelines, for $2.1 billion. In the past three years, the energy industry has invested billions of dollars in new gas and oil sources in North America. Officials...
BNET Daily Dispatch: Wal-Mart, HP, Bernake, and Circuit City
Wal-Mart's chief executive, H. Lee Scott Jr., said yesterday that he "doesn't care" if the company ever conducts business in New York city, pointing out that it's too expensive and too exasperating. Local labor unions, with support from democratic members of the city council, have created much of the resistance...
Sixth Circuit’s Morrison v. Circuit City Stores, Inc. Opinion Provides Needed Guidance on Enforceability of Mandatory Arbitration Agreements
Concerned with growing jury verdicts, unwanted publicity, and the high costs often associated with litigating claims made against them by their current and former employees, many employers are turning to mandatory arbitration programs as a means of resolving employment disputes. Indeed, recent U.S. Supreme Court cases have encouraged the trend...
Circuit City Stores, Inc. v. Adams and EEOC v. Waffle House, Inc.: The Court Addresses the Enforceability of Mandatory Arbitration Agreements
In its recently completed term, the United States Supreme Court, in a 5-4 vote, reached a decision that is certain to have a significant effect on the enforcement of mandatory arbitration agreements in the non-union employment setting. Agreeing with the overwhelming majority of Circuit Courts of Appeals, the Supreme Court...
Additional Resources
Verizon Wireless Circuit City in Tulsa names TJ Perez retail sales
TJ Perez was named as the kiosk retail sales supervisor for the Verizon Wireless Circuit City South Tulsa office. He will oversee the day-to-day operations of the kiosk, train new employees, sell Verizon Wireless products and services, as well as provide world- class customer service in both English and Spanish....
Caps, Gowns and Electronics; College Students Rate Top Graduation Gifts in New National Survey; Circuit City Offers Timely Gift Tips
RICHMOND, Va., May 5 /PRNewswire-FirstCall/ -- A new national survey commissioned by electronics retailer Circuit City shows more than half of male college students and almost a third of female college students want a tech gift for graduation this year. More than three million college students are...
Technology Industry Veteran Peter Weedfald Appointed President of Ziff Davis Media
NEW YORK, May 1 /PRNewswire/ -- Armed with over 25 years of sales and marketing experience in the technology industry, Peter Weedfald has been named President of Ziff Davis Media. The announcement was made by CEO Jason Young, who noted Weedfald's unique business perspective based on a highly successful...
Verizon announces availability of the new enV2 by LG
TELECOMWORLDWIRE-30 April 2008-Verizon announces availability of the new enV2 by LG(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com Verizon Wireless, an operator of wireless voice and data network and a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE:VOD) (LSE: VOD), announced on Tuesday (29 April), the availability of the...
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- Incorporated: 1949
- CEO: Mr. Philip J. Schoonover
Circuit City Stores is a retailer of consumer electronics, home office products, entertainment software, and related services. Co.'s domestic segment is engaged in the business of selling brand-name and private-label consumer electronics, personal computers, entertainment software, and related services in its stores in the United States and its website. At Feb 29 2008, Co.'s domestic segment operated 682 Superstores and 11 other stores in 158 U.S. media markets. Co.'s international segment is engaged in the business of selling private-label and brand-name consumer electronics in Canada. As of Feb 29 2008, Co.'s international segment operated 779 retail stores and dealer outlets.
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Circuit City Stores Inc. Company Info
Board of Directors
Mr. Philip J. Schoonover
Chairman
Dr. Carolyn Y. Woo Ph.D.
Mr. J. Patrick Spainhour
Ms. Ursula O. Fairbairn
Mr. Ronald L. Turner
Mr. Ronald M. Brill
Ms. Carolyn H. Byrd
Mrs. Barbara S. Feigin
Mr. James F. Hardymon
Mr. Alan T. Kane
Mr. Allen B. King
Mr. Mikael Salovaara
Contact Information
9950 Mayland Drive
Richmond, VA
804 486-4000
NAICS Code
Radio, Television, and Other Electronics Stores: 443112
