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

To: Smiling Bob who wrote (11012)	6/20/2007 10:54:19 AM
From: Smiling Bob	Read Replies (1) \| Respond to of 19256

Stocks like this are what is paving the way for a huge tumble. It's just a matter of a few prominent analysts catching on and publicly stating such. CC and BBY are what typifies the American consumer who propelled the economy thanks to the wealth effect of home equity loans to add the latest and greatest toy. Consumers are cooked and now burning in the oil. Vacations and other discretionary spending will be hit going forward. DIS is one that comes to mind as a great short 34.69 bid Don't know what part theme parks and crusies play in earnings, but these are tailored for the strained family. AP Circuit City Has $54.6 Million 1Q Loss Wednesday June 20, 10:11 am ET By Zinie Chen Sampson, Associated Press Writer Circuit City Reports $54.6 Million 1Q Loss; Withdraws Fiscal 2008 Guidance RICHMOND, Va. (AP) -- Electronics retailer Circuit City Stores Inc. reported a $54.6 million first-quarter loss Wednesday and withdrew its financial guidance for fiscal 2008 as the company slashed jobs and restructured to fend of competition. For the quarter ended May 31, the nation's No. 2 consumer-electronics chain behind Best Buy Co. Inc. reported losses of 33 cents per share, compared with a profit of $6.4 million, or 4 cents a share, a year ago. Analysts surveyed by Thomson Financial expected a per-share loss of 32 cents. Sales fell 4 percent to $2.49 billion, from $2.6 billion in the previous year's quarter, slightly ahead of analysts' estimate of $2.44 billion. Sales at stores open at least a year slipped 5.6 percent. In the year-ago period, sales grew 17 percent; same-store sales rose nearly 15 percent. Circuit City withdrew its financial guidance for fiscal 2008 because the company expects continued volatility as it restructures. Circuit City announced in March that it planned to lay off about 3,400 retail employees and replace them with lower-paid workers. Last month, the company cut retail management positions and eliminated about 200 corporate-office jobs. Rival Best Buy this week reported an 18 percent decline in first-quarter profit and lowered its 2008 earnings estimate. The Richfield, Minn., company blamed a softening economy for weaker sales of high-margin items. Circuit City and Best Buy have faced growing competition from Wal-Mart Stores Inc. and other retailers. "While I am disappointed with the large net loss for the first quarter, we met our revised guidance while up against our toughest comparable-store sales increase comparison of this fiscal year," Circuit City chief executive Philip J. Schoonover said in a statement. "We made significant and substantial changes to improve Circuit City and position the company to compete while facing economic uncertainty in the near term and new realities in the consumer electronics marketplace over the longer term." Richmond-based Circuit City last month said it expected losses of $80 million to $90 million in the first quarter from continuing operations with sales of flat-panel and projection televisions trailing off. Domestic sales fell 4 percent to $2.38 billion in the first quarter, and international sales fell 2 percent. Video sales decreased in double digits with flat-screen TV sales offset by a huge drop in projection and tube TVs. Sales of digital-imaging products and accessories, camcorders and DVD hardware fell as well. Notebook computer sales grew by double digits but desktop computer sales were flat. Significant sales of navigational products were offset by a double-digit decrease in sales of portable digital audio, mobile, home-audio and digital satellite-radio products. Sales of video-gaming products and computer software were up, but there was a drop off in video and music software. The company still plans to open 60 to 65 domestic stores during the fiscal year. Shares fell 6 cents to $16.01 in early trading Wednesday. circuitcity.com