Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Circuit City Reports Q4 and Year Results
Apr 4, 2007
 Printable format
 Email this Article
 Search

Circuit City Stores, Inc. today reported results for the fourth quarter and fiscal year ended Feb. 28, 2007.

In the fourth quarter ended Feb. 28, 2007, net sales increased 1.2 percent to U.S. $3.93 billion from $3.89 billion in the same period last year, with consolidated comparable store sales decreasing 0.5 percent compared to a comparable store gain of 11.6 from the prior year. Earnings from continuing operations before income taxes were 0.4 percent of sales compared with earnings from continuing operations before income taxes of 6.0 percent of sales in the prior year.

The consolidated gross profit margin was 23.7 percent in the fourth quarter compared with 24.6 percent in the same period last fiscal year. Domestic segment gross profit margin declined 45 basis points from the prior year, impacting the consolidated gross profit margin by 41 basis points, driven by a decrease in extended warranty net sales as a percentage of domestic segment net sales.

Net sales for the fiscal year ended Feb. 28, 2007, increased 8.0 percent to $12.43 billion from $11.51 billion in the prior year, with consolidated comparable store sales increasing 5.8 percent. Earnings from continuing operations before income taxes were 0.1 percent of sales compared with earnings from continuing operations before income taxes of 2.0 percent of sales in the prior year. Domestic segment net-owned inventory at Feb. 28, 2007, decreased $88.1 million from Feb. 28, 2006.

For the fiscal year, the consolidated gross profit margin was 23.5 percent in fiscal 2007, a decrease of 89 basis points from 24.4 percent in fiscal 2006. The domestic segment contributed 62 basis points to the decline, primarily due to decreases in extended warranty net sales and merchandise margin. The international segment contributed 27 basis points to the decline.


Back to Daily News

 

Daily News

...........................................................

Nov 26, 2014: Hamilton Beach 3Q income down slightly

Nov 26, 2014: LG's sales of Inverter Linear Compressor refrigerators top 10 million

Nov 25, 2014: Robotics Exhibits Grow 25% at 2015 CES

Nov 25, 2014: Index shows HVAC/R contractors more positive than last year

Nov 25, 2014: Consumer Confidence Index Declines

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows