Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (7563)	1/5/2005 10:05:42 AM
From: Smiling Bob	Read Replies (2) \| Respond to of 19256

CC - now 14.23 with a long drop coming Circuit City's Dec. Sales Disappointing Wednesday January 5, 9:39 am ET Circuit City Says December Sales Rise a Disappointing 1.8 Percent, Same-Store Sales Drop RICHMOND, Va. (AP) -- Circuit City Stores Inc. said Wednesday its December sales rose a disappointing 1.8 percent, while so-called same-store sales fell 5.8 percent, as the nation's second largest consumer electronics retailer failed to draw large crowds of holiday shoppers. ADVERTISEMENT "December sales were below our expectations," Chief Executive W. Alan McCollough said in a statement. "While we continue to believe that our stores are operating more effectively than they did at this time last year, customer traffic was below last December's levels." Richmond-based Circuit City, the nation's No. 2 chain of consumer electronics stores behind Best Buy Co. Inc., said sales increased to $1.75 billion in December from $1.71 billion in the same month in 2003. Same-store sales -- or revenue at stores open at least a year -- fell 5.8 percent in December compared to the same month a year earlier. Same-store sales are considered the best measure of a retailer's health. Although he was disappointed with overall sales, McCollough said he was pleased with sales growth in newer technology products. Portable digital audio products and satellite radio, for instance, experienced triple-digit increases. LCD and plasma displays saw increases in the double digits. But weakness in personal computer sales was exacerbated by "unexpectedly aggressive promotions" by some competitors and vendors who seemed to be trying to reduce inventory levels, Circuit City said. Also lagging were DVD hardware, video game hardware and software, digital video service sales and wireless sales.