Circuit City warns of 4th-quarter loss
From Times Wire Services
Holiday shopping might not be enough to save the fourth quarter for struggling electronics retailer Circuit City Inc.
Executives warned that they expected a modest loss in the period, despite America’s traditional holiday hunger for TVs and other high-tech gadgets.
The Richmond, Va.-based retailer saw shares fall $1.91, or 29%, to $4.75 as investors reacted to a third-quarter loss driven by lower sales of extended warranties and business interruptions that the company blamed on ongoing restructuring efforts.
