The Biz Buzz

Get the most up-to-date news, insights and analysis of Tacoma, Pierce County and South Puget Sound business.

NOTICE: The Biz Buzz has moved.

With the launch of our new website, we've moved The Biz Buzz.
Visit the new section.

Federal Way Circuit City to close

Post by Marcelene Edwards on Nov. 3, 2008 at 7:50 am |
November 3, 2008 7:50 am

Circuit City announced today that it’s closing 155 stores around the country including the store at 34920 Enchanted Parkway S. in Federal Way.


The Richmond, Va.-based company said in a news release that it would shut 20 percent of its stores as part of a plan to return to profitability.


The stores are scheduled to close by Dec. 31.


Circuit City has had only one profitable quarter in the past year, posting a wider second-quarter loss in September with a 13.3 percent decline in sales at stores open at least a year, according to The Associated Press. Its results have weakened amid a deteriorating retail environment and heightened competition from rival Best Buy Co. and others.


The company is reviewing its operations while exploring strategic alternatives.

Categories:
Shopping
*
The News Tribune now uses Facebook commenting on selected blogs. See editor's column for more details. Commenters are expected to abide by terms of service for Facebook as well as commenting rules for thenewstribune.com. Report violators to webmaster@thenewstribune.com.