BUSINESS
By Andrea K. Walker | January 17, 2009
Bankrupt Circuit City Stores Inc. said yesterday that it is going out of business and will shut down its 567 stores in the United States, including 15 in Maryland, after a plan to sell the company failed. The country's second-largest consumer electronics chain employs more than 30,000 people who will now be out of work. A bankruptcy judge approved the company's liquidation plan yesterday, and sales could begin as soon as today. The company's demise was just one of many layoff announcements yesterday from companies in various industries and highlighted how the weak economy is affecting different sectors.
NEWS
March 29, 2007
NATIONAL Showdown in Congress With the Senate preparing to vote this week to curb President Bush's ability to conduct the war in Iraq, the White House and Congress are careening toward their biggest policy confrontation in more than a decade. pg 3a WORLD Britain halts contacts with Iran Britain froze all government contacts yesterday with Iran as the Islamic republic came under intense international and domestic pressure to release 15 British sailors captured in the northern Persian Gulf.
BUSINESS
By BLOOMBERG NEWS | June 17, 1999
RICHMOND, Va. -- Circuit City Group, the No. 2 U.S. consumer-electronics retailer, said yesterday that it will pull the plug on its unprofitable Divx digital videodisc venture, resulting in a $114 million fiscal first-quarter charge.The retailer also said it will split its stock 2 for 1, and it reported better-than-expected first-quarter earnings before the Divx charge. Its shares yesterday rose $8.375 to $90.375.Circuit City invested about $200 million in Divx, hoping to capitalize on the growth of digital videodiscs.
SPORTS
By Christian Ewell | April 10, 1999
For two hours during tonight's Black College All-Star Game at the Baltimore Arena, Tyrone Thomas will gain a measure of recognition he never got while at Overlea High School."
FEATURES
By Kevin Cowherd | September 23, 1999
A preview of the new fall TV season:"Everybody Wants to Smack Dwayne" (NBC):A dumb guy (Tony Danza) moves cluelessly through life while his beautiful, efficient wife (Laura Dern) works, runs the house, raises the kids, pays the bills, initiates their sex life and changes the oil in the cars every 3,000 miles.Tonight: Dwayne's wife shows him how to obtain a library card."The Dope of Brooklyn" (ABC): A fat dumb guy (Tom Arnold) sits around watching sports on TV and lusting after Harley- Davidsons and half-price Budweiser sales while his beautiful, efficient wife (Terri Garr)
BUSINESS
By Shanon D. Murray | July 22, 1998
Further expanding its new-car retailing business, CarMax Auto Superstores Inc. said yesterday that it has agreed to acquire for an undisclosed sum the Toyota franchise rights owned by Laurel Automotive Group Inc.Richmond, Va.-based CarMax said it plans to operate the franchise at its current location on Fort Meade Road in Laurel. The acquisition is subject to approval by Toyota Motor Sales U.S.A. Inc.CarMax, a Circuit City Stores Inc. subsidiary that pioneered the used-car superstore concept, is in discussions with Toyota to establish a framework agreement to cover this acquisition and any in the future, said Val Brown, a CarMax spokesman.
BUSINESS
By BLOOMBERG NEWS | May 7, 1998
RICHMOND, Va. -- Circuit City Stores Inc. said April sales at its electronics stores exceeded expectations, though sales at its CarMax Group auto retailing stores open at least a year fell 9 percent.Separately, CarMax said it signed an agreement to own and operate Nissan Motor Corp. franchises throughout the United States, further expanding its new-car retailing business. CarMax is 77 percent-owned by Circuit City, the leading U.S. appliance and electronics retailer.Circuit City said sales at stores open at least a year in April rose 1 percent, reflecting strong sales of digital satellite systems, cellular phones and pagers, video-cassette recorders, camcorders, music software and major appliances.
NEWS
By Melody Simmons | May 7, 1997
Westview Cinemas -- a movie haven on U.S. 40 where images from the Beatles to Darth Vader have filled the screens over the past three decades -- will close this month to make way for a Circuit City superstore expected to be built on the site this summer.The 10-theater cinema complex, regarded by some as a cultural landmark in Catonsville, will show its last movie May 29."It was a difficult decision to make," said Bertram Potemken, an attorney who represents the Westview's owners, a private group of Maryland residents.
BUSINESS
By Liz Bowie | March 2, 1997
Here lies Highland Superstores, Crazy Eddie, Silo and Fretter, the Incredible Universe and Luskin's.The electronics industry graveyard is filled with companies that have ridden waves of profits on the backs of hot, new products, then crashed during a slowdown.And so during the latest industry decline, analysts are watching carefully as the nation's two largest home appliance and electronics retailers -- Best Buy and Circuit City -- fight for scarce dollars.Best Buy Co. Inc. and Circuit City Stores Inc. have a lot in common.
BUSINESS
By BLOOMBERG NEWS | April 5, 1997
RICHMOND, Va. -- Circuit City Stores Inc. said yesterday that fiscal fourth-quarter profit fell 17 percent because of weakening electronics sales and tough competition.The company, which owns the Circuit City electronics chain, said net income fell to $68.3 million, or 68 cents a share, from $82.1 million, or 83 cents, in the year-earlier quarter.Sales for the quarter ended Feb. 28 rose 7.3 percent to $2.42 billion from $2.25 billion. Same-store sales fell 10 percent during the quarter.Pub Date: 4/05/97