Wired for Growth

Circuit City Stores Inc. (Richmond, Va.) plans to open 10 new stores and move nine existing outlets in its coming fiscal year, which begins March 1. During that same period, the electronics retailer plans to upgrade the lighting and extensively remodel the big-screen TV departments in about half of its existing stores.

“Our remodeling plans for the upcoming fiscal year will focus on the high-growth big-screen TV category,” said W. Alan McCollough, Circuit City's president and ceo. “Last year, we completed development of a new video department that highlights the exciting technology in this category. In fiscal 2003, the primary focus of our remodeling efforts will be the rollout of this new department to approximately 300 stores.”

In addition, McCollough said the company plans lighting upgrades for the majority of those stores to provide a brighter overall environment, and to continue its relocation program, by moving nine stores to better sites within their trade areas.

Expenditures related to the remodeling and relocations are expected to total about $130 million in fiscal 2003.

Circuit City sells brand-name consumer electronics, personal computers and entertainment software. The company operates 603 Circuit City Superstores and 20 mall-based Circuit City Express stores.