Circuit City Halts Expansion for 2010

Circuit City Halts Expansion for 2010
October 07, 2008

Richmond, Va.-based Circuit City Stores Inc. is planning for zero growth beyond existing commitments for fiscal 2010, and is rethinking store openings for the second half of fiscal 2009, according to Globest.com. The company, which currently plans to have 45 to 55 domestic store openings in the current fiscal year, made the announcement during its second-quarter conference call. Circuit City has already opened 24 stores this fiscal year. "Our current store base doesn't support the customer or associate experience we want to deliver," said James A. Marcum, vice chairman and acting president/CEO. "We expect to dramatically reduce our store openings, other than those fulfilling existing commitments, which are limited."

Produced by: Nielsen Business Media, a part of the Nielsen Company
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