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Circuit City Change Up Larger than Previously Reported
We reported earlier that Circuit City will be closing a Louisville Distribution center and closing a handful of stores in the US.
Circuit City is also closing about 62 stores in Canada (previously described as international). Those 62 stores make up about 11% of Circuit Cities stores in Canada according to a report this morning in the Wall Street Journal.
Circuit City is also changing up its management putting all retail channels under EVP George Clark Jr. and moved merchandising services and marketing to SVP David Mathews president of the internet and B2B operations.
The changes come following Circuit City's third quarter surprise losses. The losses were largely due to a flat screen TV price war that left many companies bleeding from losses in all segments of the consumer electronics industry.
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