CC announced today that same-store sales dropped 11.4% in December. Wow, that's really bad. (same-store sales figures include only stores opened at least a year, and compares the stores' sales figures to the same period of the previous year. It's a good indicator because it doesn't count additional sales which are gained by simply opening more stores.)
Firedog +15%, extended warranty revenue -29%, Internet & call center sales +17%.
I loved this from the AP story:
"(Chief Executive Philip) Schoonover said the company will pay attention to giving sales associates the "necessary knowledge and tools needed to improve both sales and margin. The company had laid off 3,400 high-paid workers and replaced them with lower-paid new hires in March."
then later in the story...
"Circuit City announced last month that it approved millions in cash incentives to retain its top talent following the departure of several key executives over the past year. Executive vice presidents could claim retention awards of $1 million each and senior vice presidents could get $600,000, provided they stay with the company until 2011."