Circuit City Stores Inc. / CC
About Circuit City Stores Inc.
9950 Mayland Dr., Richmond, Va. 23233
www.circuitcity.com
| 804-486-4000
| Founded: 1949
Industry: Retail | Category: Top Companies Headquartered in Virginia
After five years of losses, Circuit City returned to a profit in its fiscal second quarter last year. The company attributed the turnaround to strong performances in many categories, especially sales of digital televisions. The company regards its TV category as its most important business.
The other big news for the company last year was the announcement of the retirement of chairman and chief executive W. Alan McCollough. The company's board of directors elected Philip J. Schoonover as chief executive, a post he assumed March 1 of this year. McCollough had been chief executive since June 2000 and chairman since June 2002. Schoonover had been company president since February 2005 and was responsible for store operations, marketing, merchandising and other activities.
Also last year, the company ended a contract with Amazon.com Inc. that allowed customers to buy Circuit City products through the giant online retailer. Circuit City said the contract with Amazon, struck in 2001, was no longer necessary because its own Web site had attracted a large customer base. Sales on CircuitCity.com soared 74 percent during the third quarter compared with the corresponding quarter the previous year.
Circuit City completed the rebranding last year of its Radio Shack outlets operated in Canada by InterTan, the Canadian company it bought in 2004. The name of the retail outlets was changed to the Source by Circuit City, during ongoing litigation over InterTan's right to the Radio Shack name after its purchase by Circuit City.
In the Washington area, Circuit City has 1,374 employees, 18 stores and one distribution center.
Chairman and CEO: Philip J. Schoonover
2005 Financial Data
Revenues: $11,597,686,000 | Net Income: $139,455,000Asssets: $4,063,183,000 | Earnings Per Share: $0.77
Total employees: None | Local employees: None
Did You Know
The big-box retailer of consumer electronics operates 631 stores in the United States. The company, founded as Ward's Co. in 1949, also has more than 950 retail outlets in Canada through its wholly owned subsidiary, InterTan Inc.
