Circuit City Company Description - Circut City

Circut City

Circuit City was incorporated under the laws of the Commonwealth of Virginia in 1949. The Company is a retailer of consumer electronics, home office products, entertainment software, and related services. Its corporate headquarters are located at Richmond, Virginia.

The Company has two reportable segments: its domestic segment and its international segment. For fiscal 2006, net sales were $10.97 billion for the domestic segment and $623.7 million for the international segment. Prior to the second quarter of fiscal 2005, the Company had another reportable segment, its finance operation that was sold in May 2004. The domestic segment is primarily engaged in the business of selling brand-name consumer electronics, personal computers, entertainment software, and related services in Circuit City stores in the United States.

As February 28, 2006, the Company's domestic segment operated 626 Superstores and 5 other stores in 158 U.S. media markets. The international segment, which is comprised of the operations of InterTAN, Inc., is primarily engaged in the business of selling private-label and brand-name consumer electronics products in Canada.

Circut City

At February 28, 2006, the international segment conducted business through 954 retail stores and dealer outlets, which consisted of 540 Company-owned stores, 300 dealer outlets, 93 Rogers Plus® stores and 21 Battery Plus® stores. As a result of ongoing litigation with RadioShack Corporation, the international segment re-branded most of its Company-owned stores and dealer outlets to The Source by Circuit CitySM during fiscal 2006.

International segment stores operating under the trade name The Source by Circuit CitySM typically have a small store format and are strategically located in malls and shopping centers. Each store provides readily available products and services to meet a wide range of consumer electronic needs, including digital technologies and unique electronic gadgets. Dealer outlets are independent retail businesses that operate under the Company's own trade names but are permitted, under dealer agreements, to purchase any of the products sold by The Source By Circuit CitySM.

The dealer agreements contain a sub-license permitting the dealers to designate its consumer electronics department or business as a The Source By Circuit CitySM dealer. Rogers Plus® stores are operated by the Company and are dedicated primarily to the sale of wireless services and related hardware offered by Rogers Wireless, Inc. Battery Plus® stores sell batteries and other specialty consumer electronics products.

The Company offers a selection of products and services through its stores, on the Web and via the telephone. The domestic segment's major merchandise product categories are : video, which includes televisions, imaging products, DVD hardware, camcorders, digital cameras, digital video services, furniture, and related accessories, information technology, which includes personal computer hardware, personal computer services, telecommunications products and services, and related accessories, audio, which includes home audio products, mobile audio products, portable audio products, and related accessories; and entertainment, which includes movie software, music software, game software, game hardware and personal computer software. At February 28, 2006, the domestic segment had 42,359 hourly and salaried employees.


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Circut City