Circuit City Reports Sales Decreases

Circuit City reports net sales of $2.64 billion in the second quarter of 2007, a decrease of 6.2 percent from the same quarter of last year. Consolidated comparable store sales decreased 7.9 percent from the prior year. In the second quarter, net sales for the domestic segment decreased 6.3 percent to $2.51 billion from $2.68 billion in the same period last year. For the second quarter in the domestic segment, direct channel sales, including Web and call center-originated sales, grew 20 percent, and PC services and home theater installations revenue increased 22 percent from the prior year. Also during the second quarter, the domestic segment opened nine incremental superstores and relocated four superstores.