Best Buy prepares for the holiday season with more staff hiring
Best Buy has announced that they would hire more people for the upcoming holiday season compared to previous years.
The company said that they need the extra staff to cope-up with the expanding business.
The demise of rival store Circuit City has helped them in [...]
Circuit City Stores to liquidate as no agreement reached
US based electronics retailer Circuit City Stores has announced that they have failed to reach a deal to sell the company.
Circuit City would now liquidate and shut down their stores in the country.
This is likely to help rivals gain more market share in these tough economic times. [...]
Circuit City Stores done with closing down stores
Circuit City Stores has announced that they are not planning to close down any more stores.
The company is currently operating under Chapter 11 bankruptcy protection.
They are already in the process of closing down 155 of its 722 stores.
Circuit City was responding to media reports which stated that [...]
Circuit City Stores files for bankruptcy protection
It was bound to happen. Circuit City Stores has now filed for bankruptcy protection.
The company had been struggling and just failed to survive against the competition from companies like Wal-Mart and Best buy.
The company recently said that they would close down 155 stores and fire 17% of their [...]
Circuit City closing down stores to cut costs
Circuit City has announced that they are now planning to close down about 20 percent of its U.S. Stores.
The company said that they are working hard on returning back to profitability and this is just one of the several steps.
Circuit City added that they would close down 155 [...]
Philip Schoonover no longer the CEO of Circuit City
Circuit City has announced that their Chairman, Chief Executive and President Philip Schoonover has agreed to resign from his positions in the company.
This decision is applicable with immediate effect.
Vice President of the company James Marcum would take over his position on interim basis.
Circuit City is struggling to [...]
Blockbuster no longer interested in Circuit City Stores
Video rental chain Blockbuster has now revealed that they are withdrawing their offer to acquire retailing chain Circuit City Stores.
Blockbuster said that they have researched the deal thoroughly and they believe that it would not be in the best interest of their shareholders.
Market analysts were also not amused [...]
Carl Icahn interested in acquiring Circuit City
US based retailing chain Circuit City Stores has said that they are fine with giving access to their books to Blockbuster for reviewing as they have shown interests in acquiring them.
The company added that billionaire investor Carl Icahn is also interested in a possible deal if Blockbuster fails to [...]
Blockbuster wants to acquire Circuit City
Movie rental service Blockbuster has revealed that they have offered to acquire electronics retailer Circuit City Stores.
The offer is worth around 6-8 dollars per share.
The company said that it was made in February earlier this year but they are yet to receive a favorable response.
Blockbuster said that if the [...]
Circuit City Stores posts big losses
Retailing company Circuit City Stores has come out with their latest revenue report and the company has posted a wider-than-expected loss for the third quarter.
The company suffered from lower extended warranty sales and restructuring costs.
Circuit City posted losses of $207.3 million, or $1.26 per share. These are up from $20.4 [...]
