Circuit City Announces 10 Percent Decline in Same-Store Sales for February.

Knight Ridder/Tribune Business News, March, 2003

By Gregory J. Gilligan, Richmond Times-Dispatch, Va. Knight Ridder/Tribune Business News

Mar. 7--Continuing concerns about the economy and national security and the bad winter weather last month hurt sales at Circuit City Stores Inc.

Sales at stores opened at least a year, a key indicator of a retailer's performance, fell 10 percent in February at the Richmond-based chain.

Those sales, also called same-store sales, decreased 6 percent in the December-to-February quarter.

But for the fiscal year that ended Feb. 28, same-store sales rose 4 percent.

Same-store sales are considered a key measure because they exclude results from new or closed stores.

At rival Best Buy Co. Inc., same-store sales declined 0.2...

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