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Article: Circuit City's New Direction; Made-Over Electronics Chain Sees Signs of Sales Turnaround
- Article from:
- The Washington Post
- Article date:
- February 16, 2002
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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A decade ago Circuit City appeared to hold an insurmountable lead
over its chief competitor, Best Buy. Now their positions are
reversed.
In 1991 Circuit City sales were more than three times those of
Best Buy, $2.37 billion vs. $665 million.
But Best Buy has galloped ahead and threatens to leave Richmond-
based Circuit City in the dust. In the first 10 months of the current
fiscal year, Best Buy's sales totaled $16.5 billion, Circuit City's
$8 billion.
Can Circuit City ever catch up?
"I don't spend a lot of time dwelling on that," said Circuit City
Stores Inc. President W. Alan McCollough. Instead, he said, he has
been focused on the basics.
For the past year and a half Circuit City has been ...