RICHMOND, Va. –Circuit City Stores widened its loss for the third quarter ended Nov. 30, due in part to a sales decline.
The big-box retailer recorded a net loss of $207.3 million, or $1.26 per share, compared with a loss of $20.4 million, or 12 cents per share, for the year-ago period. Net sales fell 3.1 percent to $2.96 billion from $3.06 billion for the same period last year on a 5.6 percent same-store sales decline.
The company in part blamed its transformation project, which is designed to bring it back to profitability on the loss.