This looks like the end for Circuit City

[SirStev0]

Does this mean that there is going to be one hell of a Black Friday sale? Or will they not even bother which means BestBuy isn't going to try either?

 

[KlokWyze]

CC > BB

They both suck though. Internet FTW. I buy more stuff from the FST forum here @ ATOT than @ either of these stores!

 

[Muadib]

Originally posted by: ironwing

Originally posted by: ultimatebob

Originally posted by: geno
That's what they get for sucking.

They suck less than Best Buy... but that doesn't say much I guess.

I have to agree with this. Once CC got rid of the commissioned sales folks, it became tolerable to shop there. Also, their prices have been lower than BB's lately.

I agree with this. I hated shopping at CC ever since. My sales people at BB are much more helpful.

 

[DomS]

wait for it to bounce off a low and buy in at a few cents, it may have a dead cat bounce...get out on the bounce.

 

[Dulanic]

Originally posted by: FeuerFrei
market cap is only $42 million now

what's that ... $210,000 per store if they have 200 stores (no idea how many stores they have)

Actually they have over 600 stores, almost 700 so it's like 60-65K a store lol. A store for the price of a luxury car rofl.

Considering they have ~$170 million in inventory and no major debt, the stock price is stupid.

 

[aphex]

Rumor that they will announce 155 store closings tomm, eek.

 

[zinfamous]

Whoa...the Sony story is :shocked:

 

[brxndxn]

I'm not sure I agree with all this 'closing up shop' menality going on... Even if the business is losing money during a recession, it usually isn't good business to put yourself completely out of business by closing up shop. It seems like Circuit City isn't even trying to stay in business - like it wants to fail.

It seems like such a good time to buy their stock... as long as they are not determined to fail.

 

[Engineer]

Originally posted by: aphex
Rumor that they will announce 155 store closings tomm, eek.

After they fired all of their top earners a few years ago and hired all new, cheaper employees, I have stopped shopping there. Their top paid employees were at the top for a reason, because they had been around for awhile and sold more stuff.

 

[Muadib]

Originally posted by: Dulanic

Originally posted by: FeuerFrei
market cap is only $42 million now

what's that ... $210,000 per store if they have 200 stores (no idea how many stores they have)

Actually they have over 600 stores, almost 700 so it's like 60-65K a store lol. A store for the price of a luxury car rofl.

Considering they have ~$170 million in inventory and no major debt, the stock price is stupid.

If you are right, their stock could be the buy of the year!

 

[rudeguy]

Originally posted by: zinfamous
Whoa...the Sony story is :shocked:

I have been saying for years that Circuit wouldn't last.

 

[rudeguy]

Originally posted by: Engineer

Originally posted by: aphex
Rumor that they will announce 155 store closings tomm, eek.

After they fired all of their top earners a few years ago and hired all new, cheaper employees, I have stopped shopping there. Their top paid employees were at the top for a reason, because they had been around for awhile and sold more stuff.

Their top earners all got very nice severance packages, went on vacation, then headed right for CC's competitors. I was in the electronics business when they did those cuts and we picked up some great salesmen. The best part was all their PT (personal customers) followed them to our store.

 

[Muadib]

Originally posted by: rudeguy

Originally posted by: Engineer

Originally posted by: aphex
Rumor that they will announce 155 store closings tomm, eek.

After they fired all of their top earners a few years ago and hired all new, cheaper employees, I have stopped shopping there. Their top paid employees were at the top for a reason, because they had been around for awhile and sold more stuff.

Their top earners all got very nice severance packages, went on vacation, then headed right for CC's competitors. I was in the electronics business when they did those cuts and we picked up some great salesmen. The best part was all their PT (personal customers) followed them to our store.

I knew they were in trouble, when they stopped paying their people commission. The CC stores by me went to crap soon after, and have remained that way since.

 

[ponyo]

Originally posted by: brxndxn
I'm not sure I agree with all this 'closing up shop' menality going on... Even if the business is losing money during a recession, it usually isn't good business to put yourself completely out of business by closing up shop. It seems like Circuit City isn't even trying to stay in business - like it wants to fail.

It seems like such a good time to buy their stock... as long as they are not determined to fail.

You think Circuit City has a say and has a choice? Yeah, go ahead and buy their stock. :laugh: Just don't back crying here after you lose your ass.

 

[Muadib]

Originally posted by: Naustica

Originally posted by: brxndxn
I'm not sure I agree with all this 'closing up shop' menality going on... Even if the business is losing money during a recession, it usually isn't good business to put yourself completely out of business by closing up shop. It seems like Circuit City isn't even trying to stay in business - like it wants to fail.

It seems like such a good time to buy their stock... as long as they are not determined to fail.

You think Circuit City has a say and has a choice? Yeah, go ahead and buy their stock. :laugh: Just don't back crying here after you lose your ass.

At 30 cents a share, I must say I'm tempted.

 

[indamixx99]

Originally posted by: zinfamous
Whoa...the Sony story is :shocked:

What's the story??

 

[SludgeFactory]

Originally posted by: indamixx99

Originally posted by: zinfamous
Whoa...the Sony story is :shocked:

What's the story??

http://gizmodo.com/5072782/son...circuit-city-shipments

Circuit City took a major blow today, according to a reliable inside source, when Sony's merchandise that was being delivered to nationwide Circuit City distribution centers was stopped in transit and ordered to return to Sony "among worries that Circuit City couldn't pay for the shipments."

 

[Kelvrick]

Originally posted by: indamixx99

Originally posted by: zinfamous
Whoa...the Sony story is :shocked:

What's the story??

Click on the story, then there is a link in the text saying sony turnaround story.

 

[Exterous]

Originally posted by: Muadib

Originally posted by: ironwing

Originally posted by: ultimatebob

Originally posted by: geno
That's what they get for sucking.

They suck less than Best Buy... but that doesn't say much I guess.

I have to agree with this. Once CC got rid of the commissioned sales folks, it became tolerable to shop there. Also, their prices have been lower than BB's lately.

I agree with this. I hated shopping at CC ever since. My sales people at BB are much more helpful.

Wait...what?

 

[SludgeFactory]

I'd been holding on to a CC gift card since last Christmas -- finally broke down this week and bought some ink cartridges just so I wouldn't lose the money.

You guys better spend your GC's fast!

 

[BoomerD]

Won't bother me in the slightest to see Circuit-Jerkit go under...hopefully, Worst Buy will follow, but I doubt it.

 

[Exterous]

Originally posted by: SludgeFactory

Originally posted by: indamixx99

Originally posted by: zinfamous
Whoa...the Sony story is :shocked:

What's the story??

http://gizmodo.com/5072782/son...circuit-city-shipments

Circuit City took a major blow today, according to a reliable inside source, when Sony's merchandise that was being delivered to nationwide Circuit City distribution centers was stopped in transit and ordered to return to Sony "among worries that Circuit City couldn't pay for the shipments."

I have a friend who works at the local CC and he said as part of the meeting today (where they said they would be closing approx 155 stores) the acting CEO released a statement saying Sony would continue to do business with CC

He said the rumor going around the store was that the trucks told to turn around were bound to a single distribution center that had been closed due to a sink hole

Even so, if I were a CC employee, I would probablly be getting my resume out there.....

 

[JohnCU]

Originally posted by: SludgeFactory

Originally posted by: indamixx99

Originally posted by: zinfamous
Whoa...the Sony story is :shocked:

What's the story??

http://gizmodo.com/5072782/son...circuit-city-shipments

Circuit City took a major blow today, according to a reliable inside source, when Sony's merchandise that was being delivered to nationwide Circuit City distribution centers was stopped in transit and ordered to return to Sony "among worries that Circuit City couldn't pay for the shipments."

:shocked:

 

[ranmaniac]

Circuit City reminds me of another failed electronics chain, Silo, which was the place I got my first computer, a 286 10mhz with a 12mhz "turbo" mode lol.

 

[Gunslinger08]

Originally posted by: BoomerD
Won't bother me in the slightest to see Circuit-Jerkit go under...hopefully, Worst Buy will follow, but I doubt it.

Where will you buy electronics locally then? I only have a Circuit City near me and I'm sure it's one of the stores being closed (small market), so I'm pretty screwed if I need something and can't wait for shipping.