CC
Scottrade only allows 20 quotes on streamer, so CC hasn't been on there in awhile, and therefore haven't paid much attention,
but this company is hurting. Whatever biz is left is going to BBY. And helps the case for continuing short on RSH 22.77- at least back to mid-teens
Circuit City Swings to 2Q Loss
Thursday September 20, 8:31 am ET
Circuit City Posts Loss in 2nd Quarter, As Domestic Sales Decrease
RICHMOND, Va. (AP) -- 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.
Circuit City lost $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 fell 7.9 percent. Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.
Analysts polled by Thomson Financial expected a loss of 12 cents per share on revenue of $2.78 billion. The estimates typically exclude one-time items.
Domestic segment sales fell 6.3 percent to $2.51 billion, while same-store sales fell 8 percent.
The company said it expects "continued weakness" in the third quarter. |
