CIRCUIT CITY STORES, INC. REPORTS OCTOBER SALES
CIRCUIT CITY STORES, INC. REPORTS OCTOBER SALES RICHMOND, Va., Nov. 5 /PRNewswire/ -- Circuit City Stores, Inc.
(NYSE: CC) today reported October sales of $238.8 million, which represents a 16 percent increase from October 1991 sales of $206.1 million and a 9 percent increase in comparable store sales.
"October sales were generally in line with our expectations," said Richard L. Sharp, Circuit City's president and chief executive officer. "The addition of a fifth Saturday contributed to this month's results." Circuit City opened five Superstores during the month, including its first store in San Antonio, Texas; a second store in Fresno, Calif; two additional stores in Los Angeles, Calif.; and are placement for a consumer electronics-only store in Norfolk, Va. The company also announced the election of Walter J. Salmon to fill a vacancy on the company's board of directors. Salmon is the Stanley Roth, Sr. Professor of Retailing at the Harvard Graduate School of Business. "Walter Salmon is one of the nation's leading experts in the fields of consumer retailing and distribution," Sharp said. "He has served Circuit City as an adviser on business strategy for several years, and we are pleased that he will now have a more active role in Circuit City's development." Salmon also serves on the board of directors for Hannaford Brothers Company; Promus Companies, Inc.; Luby's Cafeterias; The Neiman-Marcus Group; The Quaker Oats Company; the Southland Corporation and Waban, Inc. 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 195 Superstores, eight Circuit City stores and 39 Impulse stores in the eastern, midwestern and western United States. -0- 11/5/92 /CONTACT: Ann M. Collier, Circuit City Stores, 804-527-4058/ (CC) CO: Circuit City Stores, Inc. ST: Virginia IN: REA SU:
CM -- CH021 -- 2872 11/05/92 08:55 EST
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|Date:||Nov 5, 1992|
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