In Call, Circuit City Talks Up Selling Culture
In its conference call to announce its fourth-quarter earnings, Circuit City executives repeatedly discussed the company’s plans to improve its “selling culture.” They also refused to answer questions about the attempt by activist investor Mark Wattles to oust the company’s leadership.
The call was held after Circuit City announced quarterly earnings that, thanks to cost-cutting, showed a small profit.
The executives described 2007 as “a year of fundamental repositioning,” and while they predicted losses in the next two quarters due to economic factors, they expect a rebound by the “back half” of the year. This is because of three events this year: the arrival of economic stimulus checks, this summer’s Olympics, and next year’s analog-to-digital transition, all of which could drive sales.