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SUNDAY, NOVEMBER 8, 2009
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NEWS ABOUT: Circuit City

Circuit City stories: 13 news summaries



  Circuit City Powers Down 

Electronics retailer offers one more day of deep discounts

Mar 8, 09 10:13 AM CDT
(Newser) - Today is the last day to benefit from the deeply slashed prices at the nation's closing Circuit City stores, NPR reports. Not everyone is pleased with the remaining selection of unwanted laptops and lonely printers, but shoppers are still finding deals, and the soon-to-be jobless employees seem to be doing... More »

MORE ABOUT:
bankruptcy • Circuit City • Chapter 11 • financial crisis • economic downturn • big-box retailers • recession depression • going out of business sale

Circuit City Liquidation Sales Will Begin Tomorrow

Consumer-electronics chain has $1.3B in inventory to get rid of

Jan 16, 09 4:35 PM CST
(Newser) - Circuit City will begin the liquidation of $1.3 billion in inventory across 567 stores in special sales tomorrow, Reuters reports. The company hasn’t said anything specific on the discounts it might offer, but markdowns are likely to be deep. Gift cards from the chain will be redeemable at... More »

MORE ABOUT:
retail • bankruptcy • credit crisis • consumer electronics • Best Buy • Circuit City • financial crisis

 Circuit City 
 to Liquidate 
 US Stores 

Everything must go

Jan 16, 09 10:39 AM CST
(AP) - Circuit City will liquidate all 567 of its US stores after failing to find a buyer or a refinancing deal, the AP reports. The nation's second-biggest electronics retailer employs more than 30,000 people. Calls to the Richmond, Va.-based company and its designated liquidators were not immediately returned. Circuit... More »

MORE ABOUT:
bankruptcy • retail stores • Circuit City

 A Rash of Retailers 
 About to Go Bankrupt 

Debt, trimmed consumer spending push retailers to brink

Jan 12, 09 8:36 AM CST
(Newser) - Look for a wave of retailers going bankrupt in the months ahead, reports the Wall Street Journal, as dismal holiday sales take their toll on a business sector that's weak from expanding too fast and taking on too much debt. Lenders who traditionally have supported the segment are pulling... More »

MORE ABOUT:
bankruptcy • Circuit City • Chapter 11 • retailers • Claire's Stores

With Fewer Retail Jobs, More Cheating on Hiring Test

Unicru exam, used by Best Buy and others, unpopular with many job-seekers

Jan 7, 09 9:41 AM CST
(Newser) - Cheat on the personality test many retailers make job applicants take as part of the hiring process and you’ve got one foot in the door—and a lot of company, reports the Wall Street Journal. The computer-administered tests are feeding a growing culture of savvy applicants who share answers,... More »

MORE ABOUT:
Best Buy • retail technology • Circuit City • retail businesses • financial crisis • employment testing • Unicru • Kronos

RETAIL SALES

 No Christmas  
 Miracle for Retailers 


Even luxury sector sales in free fall

Dec 26, 08 1:57 AM CST
(Newser) - It was a bleak Christmas and promises to be a less than prosperous New Year for retailers with consumers tightening their belts and spending less, reports the Wall Street Journal. Retail sales dropped 5.5% in November and 8% in December, compared with the same months last year. Luxury goods,... More »

MORE ABOUT:
recession • Macy's • luxury goods • holiday • retail sales • Christmas • Neiman Marcus • Victoria's Secret • MasterCard Advisors • Circuit City • e-commerce • gasoline prices • ShopperTrak RCT Corp. • J.C. Penney Co

ANALYSIS

 Consumers 
 Not Buying... 
 Um, Anything 

Worried Americans scaling back spending, saving more—bad news for retailers

Nov 12, 08 10:16 AM CST
(Newser) - The US consumer has “gone from being the world economy’s greatest strength to its Achilles’ heel,” writes David Leonhardt in the New York Times. Just as Wall Street’s turmoil begins to calm, consumer spending—an economic mainstay—has gone into hiding, helping to accelerate General Motors’... More »

MORE ABOUT:
General Motors • consumer spending • savings • Circuit City • financial crisis

MARKET Open

 Chinese Stimulus Lifts Dow 

Index surges 150+ at open, following Asian lead

Nov 10, 08 8:49 AM CST
(Newser) - Stocks jumped out of the gate today, thanks to a $586 billion stimulus package from Beijing. The Dow was up nearly 200 just after opening, the Wall Street Journal reports, and the S&P and Nasdaq climbed 1.8% and 1.2%, respectively. The moves followed rallies overseas, including a... More »

MORE ABOUT:
China • stock market • Dow Jones • Shanghai Composite Index • global economy • Nikkei • AIG • Dow • commodities • economic stimulus package • Circuit City • S&P 500 • financial crisis

Circuit City Files for Bankruptcy

Dropping consumer spending, tightening credit hurt the electronics giant

Nov 10, 08 8:21 AM CST
(AP) - Circuit City Stores has filed for bankruptcy protection today, about a week after it said it would close 20% of its stores. The electronics retailer, based in Richmond, Va., has struggled as nervous consumers spend less and credit tightens. More »

MORE ABOUT:
bankruptcy • consumer electronics • Circuit City • Chapter 11 • financial crisis

Cash-Strapped Circuit City Looks to Close 150 Stores

Struggling to avoid a holiday season bankruptcy, retailer weighs options

Oct 20, 08 6:15 AM CDT
(Newser) - Cash-strapped Circuit City may shutter more than 10% of its nearly 1,500 stores in North America and eliminate thousands of jobs, reports the Wall Street Journal. The company is considering the plan as a way to avoid a holiday season bankruptcy filing, which could leave customers wary of the... More »

MORE ABOUT:
retail • bankruptcy • credit crisis • Circuit City • financial crisis

OPINION

 Songs Savaged by Pop Culture 

Commercials, YouTube and 'iconic' movie scenes make old faves unlistenable

Sep 7, 08 12:29 PM CDT
(Newser) - Some songs simply can't survive the ravages of pop culture. Scott Bennett on College Humor, runs down some tunes he can no longer listen to:
  • "O, Fortuna:" Jackass turned this "orchestral masterpiece" from Carl Orff into something that went from evoking "the struggle of mankind"
... More »

MORE ABOUT:
music • commercials • Jackass • Will Ferrell • Circuit City • movies • Internet music • Journey • Charlie's Angels

 Blockbuster Makes
 $1.35B Bid for Circuit City 

Movie-rental chain takes its $6-$8 per share bid public

Apr 14, 08 7:53 AM CDT
(Newser) - Movie-rental chain Blockbuster went public today with an offer to buy struggling consumer electronics retailer Circuit City for between $6 and $8 a share, reports the Wall Street Journal. Blockbuster made the offer—worth up to $1.35 billion—in February, but said Circuit City hasn’t opened its books.... More »

MORE ABOUT:
retail • Blockbuster • acquisition • consumer electronics • Circuit City

TV Makers Scoff at Your Puny Recession

Say buyers will continue snapping up flat panels; investors not so sure

Jan 29, 08 2:04 PM CST
(Newser) - Who cares if there’s a recession? The Super Bowl’s on! Even after the worst retailing Christmas in years, the makers of flat-panel, high-definition TVs are confident their trendy product will keep selling, spurred by falling prices and prime tube-watching events like the Olympics. One market-research firm is predicting... More »

MORE ABOUT:
television • Sony • recession • flat screen TVs • Sharp • consumer electronics • Best Buy • LCD TV • Circuit City • Wal-Mart

13 Stories


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