Surge in Plasma, LCD Sales Revives Circuit City
September 28, 2005
Circuit City, the second largest consumer electronics chain in the United States, credits the surge in sales of plasma and LCD sets as the key reason it's back in the black again after some hard economic times. It's the first time in five years it's shown a 2Q profit.
Company officials told the Associated Press that while sales in several major goods categories rose in recent months, none was as dramatic as the TV category of flat-screen digital TV sets. However, the chain's decline in sales in recent months came with DVD players, camcorders and desktop computers (versus laptops), mirroring an industry-wide slump. Circuit City, based in Richmond, Va., trails only Best Buy in size for consumer electronics chains.