December 07, 2004

Circuit City Post Weak Same-Store Sales

Circuit City, the number 2 consumer electronics retailer, reported weak November quarter sales due to lower discounting on CDs and DVDs. The company also blamed changes on how it sells cell-phones and satellite TV services. Analysts were expecting same-store sales to be up 2-4 percent; the company announced it would be -4.3 percent year over year. It makes sense however, as whenever I go to Circuit City the videogame inventory is an absolute mess vs. Best Buy.