Alan McCollough
Alan McCollough
believe company convinced exciting focus forward future home move office time
I believe we have made an exciting announcement for the future of our company. It will strategically reposition our company to focus exclusively on consumer, home office and entertainment. I am convinced the time to move forward is now." ()
believe consumer events impact near reflects results seen understand war
Near term, we have seen a softening in our business, coincident with the onset of the war with Iraq. We believe the softening reflects consumer preoccupation with geopolitical events. It is too early, however, to understand the impact these events may have on results for the first quarter." ()
available believe best both circuit city convenient customers gives options site tight web
With Circuit City's E-superstore, customers will find convenient and money-saving options not available from Web-only retailers, ... We believe the tight integration of the Circuit City Web site and our superstores gives the customer the best of both worlds." ()
advantage believe christmas customers express gifts guaranteed pickup shop web
We believe our guaranteed express pickup offering, which enabled customers to shop for Christmas gifts over the Web through Christmas Eve, was a competitive advantage during the month." ()
average base believe broader circuit consumers continued december drive exposing increase performance reflects sales store ticket update
We believe the December sales performance reflects not only our continued need to update the store base, but also a need to increase the average ticket and to drive more traffic, exposing a broader base of consumers to the new Circuit City,
associates average compared december drive effective evidence further great helped improved increase integrated inventory levels offering offset prior record reduction results sales size strong throughout ticket tightly work
Our record December sales results are further evidence of the great work being done by Associates throughout our company. More effective advertising, improved inventory in-stock levels and a tightly integrated multi-channel offering helped drive the year-over-year improvement. A strong increase in the average ticket size more than offset a reduction in traffic, compared with the prior year." ()
base charges circuit city earnings overall performance remain sales trends
We remain dissatisfied in the overall sales performance of our Circuit City business, ... no new trends on which to base any charges in earnings expectations." ()
obviously overall sales
We were obviously dissatisfied with the overall comparable-store sales decline,
affected although appliance business disruption exit including modest partial product related sales since virtually
Although we had anticipated modest sales disruption related to our exit from the appliance business and the partial remodel of all stores, since the end of September, sales have softened significantly in virtually all product categories, including those not affected by the remodeling process," ()
five forward moved number pleased returning second time
During the second quarter, we moved forward on a number of fronts. We're pleased with returning to second-quarter profitability for the first time in five years." ()
affected broader circuit donation effort help hurricane people prayers thoughts victims
Our thoughts and prayers go out to the people who were affected by Hurricane Katrina. Our donation is part of Circuit City's broader effort to help the victims recover." ()
appliances business carries categories consumer continued costs cyclical decision existing fixed high home major office recent retail strength tends weakness
Continued strength of the consumer electronics and home office categories and the recent substantial weakness in major appliances accelerated our decision to reformat all existing superstores. The major appliance business carries high fixed costs and tends to be more cyclical than other retail categories." ()
appliance business categories computer digital dvd exit following game include last peak personal sales software strong video
Sales were particularly strong in those categories that were expanded following last year's exit from the appliance business and which seasonally peak in December, ... These categories include video game hardware, software and accessories; digital cameras; personal computer software and accessories; and DVD software." ()
additional advertising building circuit city continued dollar expense flat gain held higher investment labor level leverage model optimize quarter relatively retail sales since stores team view work
We view the additional advertising expense during the quarter as an important investment in building the Circuit City brand. Since our retail stores team held labor expense relatively flat on a dollar basis, we were able to gain significant leverage on our higher level of sales as we continued work to optimize the labor model in our stores." ()