| Circuit City
Earnings Call |
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Circuit City Stores Earnings Call, First Quarter 2009
4th July 2008 00:00 AM |
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| The consolidated gross profit margin was 20.8% during the quarter compared with 22.5% in the same period last year, a decline of 174 basis points. |
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| The leading specialty retailer of consumer electronics and related services posted softer net sales of $2.30 billion from $2.49 billion in Q1 of 2008 with consolidated comparable store sales down 13%. The fiscal 2009 Q1 net loss from continuing operations totaled $164.8 million versus $54.8 million in Q1 of fiscal 2008. Whilst management believes that the company has adequate liquidity to fund turnaround, future dividend payments have been suspended in preference for capital conservation. |
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Circuit City Stores Fourth Quarter Earnings Call
13th April 2008 00:00 AM |
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| The company swung to profit of $4.85 million, as cost cutting offset lower sales for a period that included the bulk of holiday-shopping season. |
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| The electronics retailer reported revenue decrease of 8% to $3.65 billion. Same-store sales fell 10.4%. Video sales saw a low-double-digit decrease, with double-digit sales growth in flat-screen televisions unable to offset sales decreases in tube and projection televisions. For Q1, the company expects a loss from continuing operations before taxes of $180 million to $195 million, due to weak operating trends. |
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Circuit City Stores Third Quarter Earnings Call
1st January 2008 00:00 AM |
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| Including the non-cash expense for the tax valuation allowance, the net loss touched $208 million as against $19.9 million in the prior year. |
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| The specialty retailer of consumer electronics reported revenue of $2.96 billion, down 3.1% from prior year, on 5.8% decline in comparable store sales. Circuit City believes that it is on track to take out $150 million this year versus its run rate, which annualizes the $200 million in fiscal 2009. The company completed 21 domestic superstore openings in the quarter and it is on track to open 61 to 63 incremental and relocated domestic superstores this year. |
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Circuit City Stores First Quarter Earnings Call
8th October 2007 00:00 AM |
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| Net sales decreased 4.3% to $2.49 billion from $2.60 billion in the prior year period. |
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| The leading specialty retailer of consumer electronics and related services reported declining performance in the quarter with revenues lower by 4.3% at $2.49 billion and a net loss of $54.8 million or 33 cents loss per diluted share. The decline is an effect of restructuring to position it against competition and eventually reduce the costs and expenses. A cost saving of $135 million in 2008 and $185 in 2009 in SG&A expenses is expected. Cashflow position by quarter end was $364 million. |
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Circuit City Stores Second Quarter Earnings Call
24th September 2007 00:00 AM |
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| Net loss was $62.8 million compared to earnings of $10 million in fiscal 2007 due to poor sales. |
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| The retailer of consumer electronics and related services reported a 6.2% decrease in net sales from $2.82 billion in the prior year to $2.64 billion as domestic and international segment sales slumped 6.3% and 3.9%, respectively. The rollout scheduled for RPOS, as well as completion of the store level changes should help mitigate some of the short-term disruption resulting in positive earnings by the fourth quarter. The firm took action to reduce SG&A expenses by $150 million before year end. |
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Circuit City Stores Fourth Quarter Earnings Call
5th April 2007 00:00 AM |
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| The company reported net loss of $12.2 million due to weaker comparable store sales and charges to close stores. |
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| The consumer electronics retailer of the US reported sales increase of 1.2% to $3.93 billion, as same-store sales declined 0.5%. The latest results included $144.6 million in pretax charges. Consolidated gross profit margin was 23.7% hurt by a decrease in extended warranty sales. The company has announced plans to close about 65 stores. Circuit City would replace 3,400 store employees with lower-paid workers and said it may sell InterTAN. Sales are expected to rise 5% to 8% in the coming year. |
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