|Circuit City Stores, Inc.|
|Type||Public (NYSE: CC)|
|Headquarters||Richmond, Virginia, USA|
|Key people||Philip J. Schoonover CEO|
John Harlow COO
|Revenue||▼ $12. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. This article is about the city of Richmond the capital of the Commonwealth of Virginia. The United States of America —commonly referred to as the Circuit City ( is an American dealer and retailer in brand-name consumer electronics personal computers and entertainment software For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need Consumer electronics include electronic equipment intended for everyday use In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services 43 billion USD|
Circuit City (NYSE: CC) is an American dealer and retailer in brand-name consumer electronics, personal computers, and entertainment software. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been Employment is a Contract between two parties, one being the employer and the other being the employee. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. The United States of America —commonly referred to as the
Circuit City is a Fortune 500 company. Please do not add the complete list of fortune 500 companies The list is copyrighted by Fortune which makes money by selling the content Circuit City operates over 670 Superstores and 13 other locations in USA and Puerto Rico. Circuit City Superstores range in size from 15,000 to 45,000 square feet (1400 to 4000 m²) and offer a large selection of brand-name consumer electronics, personal computers and entertainment software.
Circuit City also has over 800 retail stores and dealer outlets in Canada. Circuit City's locations in Canada are operated by InterTAN Canada Ltd which Circuit City acquired on May 19, 2004. InterTAN is a Canadian consumer electronics retailer that operates stores under the banners " The Source by Circuit City " and a single "THS Studio" location Events 1535 - French explorer Jacques Cartier sets sail on his second voyage to North America with three ships 110 men and "MMIV" redirects here For the Modest Mouse album see " Baron von Bullshit Rides Again " InterTAN runs The Source by Circuit City (formerly RadioShack) chain in Canada (some of them now called La Source in Quebec) as well as THS Studio UpClose, and G-Wiz. The Source by Circuit City (often referred to only as The Source) (formerly known as RadioShack Canada) is an Electronics Retailer RadioShack Corporation (formerly Tandy Corporation) (  is a chain of electronics retail stores in the United States, as well as parts of North America Country to "Dominion of Canada" or "Canadian Federation" or anything else please read the Talk Page
In 1949, Samuel S. Wurtzel opened the first Wards Company retail store in Richmond, Virginia, at 705 West Broad Street. This article is about the city of Richmond the capital of the Commonwealth of Virginia. By 1959 Wards operated four television and home appliance stores in Richmond. The company continued to grow and acquire more stores in other locations including Albany, New York; Mobile, Alabama; Washington, DC; and Costa Mesa, California. Albany is the Capital of the State of New York and the County seat of Albany County. Washington DC ( formally the District of Columbia and commonly referred to as Washington, the District, or simply D Costa Mesa is a Suburban city in Orange County California, United States. During the 1970s and early 1980s it also sold mail-order under the name Dixie Hifi, advertising in the hifi magazines of the day.
Wards Company officially changed its name to Circuit City and became listed on the New York Stock Exchange in 1984. The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. Year 1984 ( MCMLXXXIV) was a Leap year starting on Sunday (link displays the 1984 Gregorian calendar) One of the company's early slogans was "Circuit City - Where the Streets are Paved with Bargains. " The company, which leased floor space from the Zody's department stores as well as other department stores, began obtaining retail stores and turning them into Circuit City Superstores. The first of these replacements occurred in Knoxville, Tennessee; Charleston, South Carolina; and Hampton, Virginia. Charleston is a city in Charleston county in the US state of South Carolina. Hampton is an Independent city in Virginia, and therefore not part of any Virginia county
In 1991, Circuit City entered the New York City market by acquiring the remnants of the failed Lafayette Radio chain. Lafayette Radio was a Radio Manufacturer and Retailer based in Syosset New York. They operated stores there under the Lafayette name for a few years and then exited the market, only to return several years later under the Circuit City banner.
Circuit City established the First North American National Bank to operate its private-label credit card. In 2002, Circuit City began offering a co-branded Visa credit card. See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar. It sold both of these operations in 2004 to Bank One (now called Chase Bank). "MMIV" redirects here For the Modest Mouse album see " Baron von Bullshit Rides Again " Bank One Corporation, based in Chicago Illinois, was the sixth-largest Bank in the United States. Chase is the consumer and commercial banking division of JPMorgan Chase. Other companies owned by Circuit City included CarMAX, which seceded from Circuit City in 1999, and Patapsco Designs in 2001. Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) Year 2001 ( MMI) was a Common year starting on Monday according to the Gregorian calendar. 
In 2003, Circuit City converted to a single hourly pay structure in all stores, eliminating commissioned sales. Year 2003 ( MMIII) was a Common year starting on Wednesday of the Gregorian calendar. Many previously commissioned sales associates were offered new positions as hourly "product specialists", while 3900 salespeople were laid off, saving the company about $130 million a year. 
A hedge fund headquartered in Boston, Highfields Capital, offered to take over Circuit City for $17 a share on February 11, 2005, arguing that existing management had failed to maximize shareholder value. A hedge fund is a private Investment fund open to a limited range of investors which is permitted by regulators to undertake a wider range of activities than other investment Events 660 BC - Traditional founding date of Japan by Emperor Jimmu. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. The offer was rejected by Circuit City's board on March 7, but doubled its own share buyback program. Events 161 - Roman Emperor Antoninus Pius dies and is succeeded by co-Emperors Marcus Aurelius and Lucius Verus As of February 28, 2005, Circuit City held cash, cash equivalents, and short term investments of 1 billion USD. Events 202 BC - coronation ceremony of Liu Bang as Emperor Gaozu of Han takes place initiating four centuries of the Han Dynasty 's rule Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been 
Philip J. Schoonover succeeded W. Circuit City ( is an American dealer and retailer in brand-name consumer electronics personal computers and entertainment software Alan McCollough as Chairman of the Board of Circuit City Stores, Inc.  on June 27, 2006. Events 1358 - Republic of Dubrovnik is founded 1709 - Peter the Great defeats Charles XII of Sweden Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar.
"Firedog," the name for Circuit City's upgraded in-store and in-home and online computer and home theatre technical support and installation services, was unveiled at a Las Vegas convention in August 2006. see Fire dog for the archaeological artifact type firedog (formerly known as IQ Crew or simply PC Services is the brand name Home cinema, also called home theater, are entertainment systems that seek to reproduce cinema quality video and audio in a private home August 2006 was a month with thirty-one days On August 10, an alleged plot to detonate ten Airliners over the Atlantic Ocean was revealed to 
On February 8, 2007, Circuit City announced that it planned to close seven domestic Superstores and a Kentucky distribution center to cut costs and improve its financial performance. Events 421 - Constantius III becomes co- Emperor of the Western Roman Empire. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.  News media reports also mention that 62 stores in Canada will close. 
Circuit City announced on February 23, 2007 that Michael Foss, Chief Financial Officer, would leave the company. Events 1455 - Traditional date for the publication of the Gutenberg Bible, the first Western Book printed from Movable Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. This unsettled investors and analysts concerned about management turnover. "This represents the third departure of a senior executive in the past six months, and the second departure of a top-five executive in the past month" said Goldman Sachs analyst Matthew Fassler in a client note. Chief Executive Office Phil Schoonover’s "hand-picked team is turning over faster than we would like to see in a turnaround situation. "
In a press release on March 28, 2007, Circuit City announced that it had laid off approximately 3400 of their associates who were paid above the salary range for their position in order to cut costs. Events 37 - Roman Emperor Caligula accepts the titles of the Principate, entitled to him by the Senate. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Those positions will be re-staffed with associates paid within the market range for their position. Associates who were laid off due to the "wage management" decision were provided severance and offered a chance to return after ten weeks, at a market-based salary. The Washington Post reports interviews with management concerning the firings. 
The Post later reported in May 2007  that the layoffs appear to be 'backfiring' and resulting in slower sales. The blog The Consumerist reported in November on a letter a former employee received from Circuit City, attempting to entice him to re-join the company, in a capacity 'comparable to your previous role at the most competitive rate possible. Consumerist is a consumer affairs Blog run by Editor Ben Popken, along with Senior Editor Meghann Marco Associate Editor Chris Walters and Weekend ' 
Circuit City introduced a new Superstore format in 2001 which was much more in-line with the "Big Box Retailer" store design than its prior layouts. Year 2001 ( MMI) was a Common year starting on Monday according to the Gregorian calendar. Big-box store is a term that refers to a style of physically large Chain store, and by extension to the company behind the store The newer stores have a brighter, more open sales floor to allow customers to browse the merchandise easily. The format allows putting all products, except those that are too large for a customer to carry themselves, on the sales floor. In 2007, new store formats include a 20,000 square foot store aimed to eliminate previously under-utilized space known as The City. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. All new store openings in 2008 will be in this new store format and significantly changes the experience traditionally found in Circuit City stores. 
In partnership with IBM, Circuit City has also developed its first online virtual-reality store based completely within the 3D virtual world of Second Life. International Business Machines Corporation abbreviated IBM and nicknamed "Big Blue", is a multinational Computer Technology 3D computer graphics (in contrast to 2D computer graphics) are graphics that use a three-dimensional representation of geometric data that is stored in the computer Second Life ( abbreviated as SL) and its sister site Teen Second Life are Internet-based 3D Virtual The store was opened in December 2006 and houses 3D representations of actual products carried in stores. Online consumers can shop in the virtual store much like they would in a real store. The Second Life virtual store project was created as part of Circuit City's "Multi-Channel" initiative to branch into other areas of retailing in addition to a standard store environment. 
Domestic segment retail operations are overseen by the COO, John Harlow as of 2008. Domestic retail operations are divided into 8 regions which are under the supervision of Regional Vice Presidents. The 8 regions comprise 67 districts, which are overseen by District Managers who regularly visit stores to monitor store operations and meet with Store Management.
Domestic segment Super stores are typically staffed with an average of 56 full-time and part-time Associates including sales support personnel, such as customer service associates, product specialists and stockpersons; in-store technicians and installers; supervisors; an operations manager; an assistant manager; and a store director. 
Examples of services provided are narrowband, broadband, wireless telephone service through an exclusive partnership with Verizon Wireless (while also offering Virgin Mobile, and foneGEAR), voice-over IP, extended warranty programs, satellite radio, computer repair, in-store pickup, car audio installation and in-home video installation. "Verizon" redirects here this article is about the corporation see also Verizon Wireless, Verizon Online DSL and Verizon FiOS.
At the time of its fiscal year 2007 Annual report, Circuit City had over 43,000 hourly and salaried associates working in the United States, and 3,071 associates in Canada . The United States of America —commonly referred to as the Country to "Dominion of Canada" or "Canadian Federation" or anything else please read the Talk Page
Associates in both the domestic and international segment receive frequent training through interactive E-learning courses hosted on the company intranet known as ccity. Electronic learning (or e-Learning or eLearning) is a type of education where the medium of instruction is computer technology An intranet is a private computer network that uses Internet protocols and network connectivity to securely share any part of an organization's information or operational com. In the beginning, the E-learning courses were developed in conjunction with Circuit City's training department and DigitalThink. As of 2007, all coursework is developed internally and the deployed and hosted on an LMS system by Convergys. In addition to online courses, associate training tools include training workbooks, and management-driven in-store mentoring.
On May 9, 2007, the executive board of the Retail, Wholesale and Department Store Union (RWDSU, UFCW) issued a statement that they would support a lawsuit against Circuit City by three Oxnard, California Circuit City employees who were part of the group of employees fired for earning higher wages. Events 1457 BC - Battle of Megiddo (15th century BC between Thutmose III and a large Canaanite coalition under the King of Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. The three employees are Daniel Weidler, 57, Michael Yezback, 59, and Eloise Garcia, 66. RWDSU President Stuart Appelbaum said, even though the three employees were not part of their union, "what happened to them and other Circuit City workers represents a two-fisted assault against all retail employees. " In Appelbaum's statement, the union plans to file an amicus brief in support of the California workers. RWDSU represents about 100,000 throughout the U. S. and Canada and feels that if Circuit City is allowed to get away with their firing practice, other major retailers will follow suit. 
Circuit City's in store tranformation program dubbed ISCE, started with laying off 3400 employees in 2007 that were earning more than fair market salary. It was internally announced at a store level within a few months of the terminations. It started with developing a "full floor" selling staff in certain stores. The company went to reasonable means to train associates how to sell in any department, however many skeptics currently believe that this move may have led to reduced earnings and a loss of market share to its competitors. 
Multi-Channel In the company's 2007 annual report, Circuit City lists Multi-Channel integration as one of its primary innovation initiatives. The company launched a test program that enables sales associates and shoppers in 10 stores in Boston and 10 in Florida to use wireless tablet PCs to study product specifications and compare products and prices from circuitcity. com as they walk through a store. The test has now resulted in a roll-out in all of the company's new concept stores known as The City.
Supply Chain In Fiscal 2007, Circuit City made improvements within its supply chain organization to help identify and react to consumer demand in a timely manner as well reduce the time between buying from a vendor and display of the product at the point of sale. Circuit City has set up a subsidiary, Circuit City Global Sourcing, Ltd (with offices in China, Hong Kong and Taiwan), to assist in obtaining inventory to sell. China ( Wade-Giles ( Mandarin) Chung¹kuo² is a cultural region, an ancient Civilization, and depending on perspective a National Hong Kong ( officially the Hong Kong Special Administrative Region, is a territory located on China 's south coast on the Pearl River Delta, and borders Taiwan ( Taiwanese: Tâi-oân/Tāi-oân (historically 大灣/台員/大員/台圓/大圓/台窩灣 is an Island in East Asia. Most products are shipped directly from manufacturers to the 9 Circuit City distribution centers. 
Six Sigma Six Sigma was introduced in 2001 as an initiative within Circuit City's annual report. Six Sigma is a Business management strategy originally developed by Motorola, that today enjoys wide-spread application in many sectors of industry  Six Sigma is applied to Circuit City's operational side such as supply chain and distribution centers. In May 2004 the Director of Six Sigma for Circuit City announced that Six Sigma was being applied to important company projects. As of 2006, Six Sigma intitiatives have ceased to exist. 
Heart of the City In early 2006, Circuit City rolled out its "Heart of the City" initiative, a label for the company's ongoing encouragement for all associates to volunteer for charitable causes. Volunteering is not compulsory but is encouraged by district and store management. Stores organize events such as softball games, car washes, and bake sales to raise money for charities in their own communities. Included within the "Heart of the City" initiative are corporate donations and partnerships with organizations nationwide. As of June 2006, Heart of the City has developed an "Umbrella", which they consider the people and organizations they support through the program. There are four programs that fall under this umbrella which include Boys and Girls Clubs of America, United Way of America and as of December 2006, the newly created "Associate Relief Fund" which was originally an idea to help those associates directly affected by Hurricane Katrina. Boys & Girls Clubs of America (or BGCA) is a national organization whose mission is to “enable all young people especially those who need us most to reach their full potential United Way of America, based in Alexandria Virginia, is a Non-profit organization that works with nearly 1300 local United Way offices throughout the country in Hurricane Katrina of the 2005 Atlantic hurricane season was the costliest hurricane, as well as one of the five deadliest in the history of the United States The Associate Relief Fund will now go to help any associate in need of assistance who otherwise wouldn't receive any. 
Boys & Girls Club of America Starting in 2001, Circuit City partnered with the BGCA for their annual ImageMakers contest. Year 2001 ( MMI) was a Common year starting on Monday according to the Gregorian calendar. This $5 million initiative, funded by the Circuit City Foundation, helps BGCA develop a state-of-the-art photography curriculum, host a photography competition, provide photography resources and involve Club members in the art of photography. 
Habitat for Humanity Circuit City is a Build Partner with Habitat for Humanity. As recently as March 2006 Circuit City made charitable contributions to the Richmond, VA. Stories without links will be removed. News stories must be in English Habitat. Circuit City associates volunteered, and assisted in the construction of several houses near the Richmond area that same month. 
American Red Cross In the wake of Hurricane Katrina, Circuit City announced on September 9, 2005 the donation of $1 million to the American Red Cross Disaster Relief Fund. Hurricane Katrina of the 2005 Atlantic hurricane season was the costliest hurricane, as well as one of the five deadliest in the history of the United States Events 1000 - Battle of Svolder, Viking Age. 1379 - Treaty of Neuberg, splitting the Austrian Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. In addition to the corporate donation, Circuit City associates participated in a "Drive for a Million" fundraising effort, which included a variety of projects (bake sales, car washes, etc. ) at Circuit City locations across the country to benefit the American Red Cross Disaster Relief Fund. 
Due to the expansion of Circuit City stores in the 1970s-1990s, the company has accumulated a surplus of unused real estate with a presence in nearly every major market in the country. Although a typical retail location is approximately 30,000 square feet (2700 m²), they have numerous freestanding and in-line locations ranging from 2,000 to 50,000 square feet (180 to 4500 m²). They also have office, service and distribution surplus locations scattered across the country. During Circuit City's 2005 fiscal year (March 1, 2004 through February 28, 2005), the company disposed of approximately 1. Events 86 BC - Lucius Cornelius Sulla, at the head of a Roman Republic army enters in Athens, removing the Tyrant "MMIV" redirects here For the Modest Mouse album see " Baron von Bullshit Rides Again " Events 202 BC - coronation ceremony of Liu Bang as Emperor Gaozu of Han takes place initiating four centuries of the Han Dynasty 's rule Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. 2 million square feet (108,000 m²) of vacant retail space.  In January 2007, Circuit City's vice president for real estate announced plans on opening up 200-300 stores in the next two years, a large increase from the current trend of 10-12 stores a year. January 2007 is the first month of that year It began on a Monday and 31 days later ended on a Wednesday. 
The domestic segment launched the firedog brand during fiscal year 2006 to compete with other retailer's offerings such as Best Buy's Geek Squad and Staples EasyTech to provide home theater installation and PC services in-store, at home and remotely. see Fire dog for the archaeological artifact type firedog (formerly known as IQ Crew or simply PC Services is the brand name Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Best Buy Co Inc ( is a Fortune 100 company and the largest specialty retailer of Consumer electronics in the United States and Canada The Geek Squad is a subsidiary of the Best Buy Company and is based in Richfield Minnesota. Staples Inc is the world's largest Office supply Retail store chain with over 2000 stores Worldwide in 27 countries Staples Inc is the world's largest Office supply Retail store chain with over 2000 stores Worldwide in 27 countries The decision to build an integrated brand for both PC services and home theater installation was based on customer research and was more cost-efficient than building multiple brands. As of the business model change on May 31st, firedog now includes Roadshop installation.
Circuit City agreed to pay $173,220 in settlement and investigation reimbursement costs due to a false advertising claim in a 2004 New Jersey court case. The court found that important information pertaining to sale items was purposely obscured within the advertisement, thus potentially deceiving to their customers. 
The same year, Harris and Kaufman, Attorneys at Law, successfully represented a class action suit of Circuit City employees caught in an unfair arbitration agreement. The court's ruling in Gonlugar v. Circuit City Stores, Inc. , found the store's arbitration agreement to be "tainted with illegality". The arbitration agreement was found to be so one-sided that it was unconscionable. Harris and Kaufman maintained the arbitration agreement bound only the employee to arbitration, required the employee to pay fees to Circuit City for initiating the arbitration (Circuit City paid no such fee), imposed a shortened statute of limitations on the employee (not on Circuit City), and prohibited class actions.  
Circuit City's City Advantage Plan was also challenged in a United States District Court in Massachusetts. The plaintiffs' claim concerned Circuit City's cancellation of its warranty plan without full disclosure of the plan at the time of sale. The plaintiffs cited breach of contract, unjust enrichment, and violation of the Massachusetts Consumer Protection Act. Circuit City requested the matter be dismissed. The court, however, upheld the plaintiffs' claim that the monies paid for the protection plan would be reimbursed as well as credited for the return non-working goods. 
During the week of August 31, 2007, the California Supreme Court ruled that Circuit City employees may sue the store for labor law violations, even though the store had the employees sign arbitration agreements years ago. Events 1056 - Byzantine Empress Theodora becomes ill dying suddenly a few days later without children to succeed the Throne Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. The arbitration agreement, which Circuit City insists all 46,000 employees must sign, calls for employees to waive their right to sue their employer and establishes a cap for damages regarding any wrongdoing on the part of corporate or management. The California high court indicated that the Circuit City employee waiver violated the state's labor laws. 
The Centrios and NexxTech brands are imported and distributed by the American company Orbyx Electronics, and primarily manufactured in the People's Republic of China. see Fire dog for the archaeological artifact type firedog (formerly known as IQ Crew or simply PC Services is the brand name The United States of America —commonly referred to as the Talk People's Republic of China) PEOPLE'S REPUBLIC OF CHINA ARTICLE GUIDELINES
The City is a new venture being taken on by Circuit City Stores, Inc. The City as a linguistic term is a generic name used in various contexts to refer to a particular city These new concept stores originated in the Richmond, Virginia area and have proven to be very effective in helping Circuit City sales. Circuit City plans to open approximately 55 new stores by 2009, most of them being The City. The City store's layouts are very similar to those found at competitor locations such as Best Buy. Best Buy Co Inc ( is a Fortune 100 company and the largest specialty retailer of Consumer electronics in the United States and Canada The stores give customers a more hands-on experience with the products they plan to buy and assist the associates in giving the customers the best experience possible.