You may already know this but it looks like Circuit City is having trouble keeping up the pace!!
Courtesy of The New York Times
“Circuit City Stores said yesterday that it was closing about 70 stores, most of them in Canada, and that its chief merchandising officer, Douglas T. Moore, had left as the company responds to increased pressure in the electronics retail market.
The retailer, which lags its main rival, Best Buy, is revamping operations after facing intense pressure on margins in the flat-panel television category in the third quarter, Philip J. Schoonover, the chairman and chief executive, said in a statement.
Under the new management structure, merchandising, services and marketing will fall under one leader, David L. Mathews, and all of the retail channels — United States stores, international stores and Circuit City Direct — will report to George Clark Jr., executive vice president for multichannel sales.”
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