Printer Friendly

CIRCUIT CITY REOPENS THREE LOS ANGELES SUPERSTORES AND CONFIRMS PLANS FOR ADDITIONAL STORES

 CIRCUIT CITY REOPENS THREE LOS ANGELES
 SUPERSTORES AND CONFIRMS PLANS FOR ADDITIONAL STORES
 RICHMOND, Va., May 8 /PRNewswire/ -- Circuit City Stores, Inc. (NYSE: CC) today announced the reopening of three Los Angeles stores closed by the events in that city last week and also confirmed plans to open three additional stores in the area beginning later this year.
 None of Circuit City's stores was structurally damaged by disturbances in the city; however, some suffered various degrees of merchandise loss or were closed as a safety precaution. Superstores in Compton, Hollywood and La Cienega closed April 30 and remained closed through the weekend. The Compton store reopened Monday; Hollywood reopens today; and La Cienega, which was the most severely affected, is expected to reopen Sunday.
 "Los Angeles is the largest consumer electronics market in the country and is Circuit City's largest market as well," said Richard L. Sharp, Circuit City's president and chief executive officer. "We opened our first Los Angeles Superstore in 1985 and have built a strong relationship with consumers in the market. Their enthusiasm for our store offering and their loyalty helped make us one of the fastest growing retailers in the nation and the largest specialty retailer of brand-name consumer electronics and major appliances. By quickly reopening our stores, we are reaffirming our commitment to our current customer base, and, we hope, contributing to a stronger economic environment in the metropolitan area."
 In addition to the reopenings, Circuit City officials confirmed plans to open three additional Superstores in the market this fall. The stores scheduled to open this year will be located in the Thousand Oaks, Puente Hills and Palm Desert areas. The company is actively negotiating leases for additional sites and expects to open another five to six Superstores over the next several years.
 "These Superstores have been part of our expansion plans for some time," Sharp said. "They reflect our desire to provide convenient locations to customers in trading areas throughout the metropolitan area and the strong profitability of our existing operations."
 Circuit City Stores, Inc. is the nation's largest specialty retailer of brand-name consumer electronics and major appliances. With headquarters in Richmond, Va., it operates 184 Superstores, 11 Circuit City stores and 35 Impulse stores in the eastern, midwestern and western United States.
 -0- 5/8/92
 /CONTACT: Ann M. Collier, Circuit City Stores, Inc., 804-527-4058/
 (CC) CO: Circuit City Stores, Inc. ST: Virginia, California IN: REA SU:


CM -- CH006 -- 8042 05/08/92 11:10 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 8, 1992
Words:413
Previous Article:CINEPLEX ODEON ANNOUNCES 1992 FIRST QUARTER RESULTS
Next Article:ENTERGY CORPORATION REPORTS FIRST QUARTER EARNINGS
Topics:


Related Articles
CIRCUIT CITY STORES, INC. REPORTS NOVEMBER SALES
CIRCUIT CITY STORES, INC. REPORTS DECEMBER SALES
CIRCUIT CITY STORES, INC. REPORTS APRIL SALES
CIRCUIT CITY STORES, INC. REPORTS OCTOBER SALES
CIRCUIT CITY STORES, INC., REPORTS NOVEMBER SALES
CIRCUIT CITY STORES, INC. REPORTS JANUARY SALES, AGREES TO ASSUME SILO LEASES IN LOS ANGELES
CIRCUIT CITY STORES, INC. REPORTS JUNE SALES
CIRCUIT CITY STORES, INC. REPORTS FEBRUARY AND FISCAL YEAR 1996 SALES
Circuit City Stores, Inc. Announces Divx Partnership
Circuit City Announces 19 Superstore Closings as Part of Its Ongoing Initiatives to Improve Financial Performance.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters