Tuesday, November 4, 2008

Circuit City Closing 155 Stores

RICHMOND, VA (AP) - Circuit City says it's closing about 20% of its U.S. stores in an effort to return the nation's second-largest consumer electronics retailer to profitability.

The Richmond, Va.-based company said Monday it will shutter 155 of its more than 700 stores in 12 markets by Dec. 31, laying off thousands of employees.

Circuit City has had only one profitable quarter in the past year, posting a wider second-quarter loss in September with a 13.3% decline in sales at stores open at least a year. Its results have weakened amid a deteriorating retail environment and heightened competition from rival Best Buy Co. and others.

The company is reviewing its operations while exploring strategic alternatives.

Here's the California Stores:

*City of Industry, Compton, Concord, Dublin, Escondido, Fairfield, Fontana, Foothill Ranch, Fremont, Merced, Mira Loma, Moreno Valley, Morgan Hill, Murrieta, Palo Alto, Pittsburg, Pomona, Richmond, Riverside, San Rafael, Santa Barbara, Santa Maria, Thousand Oaks, Vista

Find the list here

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