Check out the tiny profit at Circuit City.
The electronics retailer surprised investors by not posting a loss in the fourth quarter. The company had a $4.85 million profit, even though sales fell 7.7 percent.
Faced with a push by investor Mark Wattles to oust chief executive Philip Schoonover (pictured), the company is trying to simplify store operating procedures and sell more add-on services like home theater installations and warranties.
But the company is still facing what it calls the worst macroeconomic environment in years. And now that it has completed a store overhaul, the company needs to show it can improve customer service before Circuit City can show some juice.
Also in the basket:
New Nestle CEO faces billionaire’s dilemma
Retailers’ costs rise faster than prices-Carrefour
Signet year profit down, outlook tough
Candid Camera: Trove of videos vexes Wal-Mart (WSJ, subscription required)
(Photo: Reuters)
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