Circuit City posts 4Q loss

Electronics retailer Circuit City Stores Inc. said Wednesday it lost $12.2 million in the fourth quarter, hurt by charges related to store closings and slower sales growth related to falling flat-panel television prices and uneven demand for computer hardware.

For the fiscal quarter ended Feb. 28, the nation's No. 2 chain of consumer electronics behind Best Buy Co. Inc. reported a loss of 7 cents per share compared with profit of $141.4 million, or 81 cents a share, a year ago.

The latest period included pretax charges of $144.6 million related to the store closings and restructuring, as well as an impairment charge of $92 million at the company's international unit.

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- Posted: 2007-04-04 10:37:53

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