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Circuit City Stores, Inc. Reports Third Quarter Results Dec 21, 2007 |
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Retailer Circuit City reported results for the third quarter ended Nov. 30, 2007.
For the three months ended Nov. 30, losses were US$207.3 million, or $1.26 per share, from $20.4 million, or $0.12 per share, a year ago. Excluding tax-related accounting items, losses totaled $0.64 per share in the latest period.
Sales fell 3% to $2.96 billion from $3.06 billion a year earlier, with sales at stores open at least a year falling 5.6%.
Looking ahead, the company said that assuming current sales and margin trends continue for the rest of the fourth quarter, it will report a "modest" pretax loss from continuing operations for the quarter.