CIRCUIT CITY STORES, INC. REPORTS OCTOBER SALES
CIRCUIT CITY STORES, INC. REPORTS OCTOBER SALES RICHMOND, Va., Nov. 6 /PRNewswire/ -- Circuit City Stores, Inc.
(NYSE: CC) today reported October sales of $206.1 million, which represents a 19 percent increase from October 1990 sales of $172.8 million and a 1 percent increase in comparable store sales. Total sales for October 1990 have been restated to reflect a change in accounting for extended warranties.
"The improvement in our comparable store sales pace reflects moderately easier comparisons against last year's results and a more aggressive promotional stance," said Richard L. Sharp, Circuit City's president and chief executive officer. "Overall, we believe that the environment for big-ticket durable sales remains weak and highly competitive. We are maintaining a cautious outlook for the holiday season." During the month, Circuit City replaced a consumer electronics-only store in Washington, D.C., with a Superstore. The company also opened four Impulse stores in Los Angeles, Calif.; Syracuse, N. Y.; Poughkeepsie, N. Y.; and Baltimore, Md. Circuit City is the nation's largest specialty retailer of brand-name consumer electronics and major appliances. With headquarters in Richmond, Va., it operates 176 Superstores, 12 Circuit City stores and 31 Impulse mall stores in the eastern, midwestern and western United States. -0- 11/6/91 /CONTACT: Ann M. Collier of Circuit City Stores, Inc., 804-527-4058/ (CC) CO: Circuit City Stores, Inc. ST: Virginia IN: REA SU: CM -- CH002 -- 1544 11/06/91 08:55 EST
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|Date:||Nov 6, 1991|
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