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CIRCUIT CITY STORES, INC., REPORTS DECEMBER SALES

 RICHMOND, Va., Jan. 6 /PRNewswire/ -- Circuit City Stores, Inc. (NYSE: CC) today reported December sales of $713.8 million, which represents a 25 percent increase from December 1992 sales of $568.9 million and an 8 percent increase in comparable store sales.
 "December's sales growth exceeded our expectations," said Richard L. Sharp, Circuit City's president and chief executive officer. "The sales were achieved despite an increasingly competitive retail climate that we expect will continue into the coming fiscal year.
 "In 1994, we plan to pursue a more aggressive marketing approach that we believe will strengthen Circuit City's share, particularly in highly competitive markets," Sharp said. "We anticipate that reductions in gross profit margins and increased costs associated with the previously announced acceleration in our expansion program will result in no material earnings growth in fiscal 1995. However, we believe that this transition year will position us to compete even more effectively during the latter half of the decade as we strengthen Circuit City's position as the nation's leading retailer of consumer electronics and major appliances."
 Circuit City Stores, Inc., has headquarters in Richmond. The company operates 251 Circuit City Superstores; two stores, called Circuit City stores, in smaller trade areas; seven consumer electronics- only stores and 37 smaller, mall-based stores in the eastern, midwestern and western United States.
 -0- 1/6/93
 /CONTACT: Ann M. Collier of Circuit City Stores, 804-527-4058/
 (CC)


CO: Circuit City Stores, Inc. ST: Virginia IN: REA SU: SLS

IH-DS -- DC002 -- 9649 01/06/94 08:45 EST
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Publication:PR Newswire
Date:Jan 6, 1994
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