Headlines

Circuit City Combats a Profit Plunge

Earnings reflect the decision to stop selling appliances

Published

26 years ago

September 19, 2000

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Circuit City reported a 20 percent fall in fiscal second-quarter earnings. The company expected the loss, since backing out of the appliance business in late July.

Poor sales and increased competition incited the decision to stop selling appliances, and so far, about 225 stores have given up the business. The company intends to renovate approximately 630 stores. To make up for the lost appliance category, Circuit City will increase its computer and entertainment, offering more video-game systems, software, CDs and DVDs.

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