Robert Rodriguez buys Circuit City Stores Inc., Adds to Charming...
Robert Rodriguez buys Circuit City Stores Inc., Adds to Charming Shoppes Inc., sells National Oilwell Varco Inc. via GuruFocus.com
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#1 Oct 14, 2007
I think the man is a fool. Circuit City is doomed, nothing short of a complete takeover can save the company. Staff is poor and and store appearance is abysmal, pricing is inaccurate at best. A turnaround would take more money than Circuit has left after thier disasterous decision to open stores and hemmorage money instead of fixing the stores they have it would seem that Circuit City is intent on going bust right around the end of 1st quarter next year. If anyone sees life in 4th quarter it is only a "suckers bounce" due to the season and prepaying thier inventory to show a higher profit. the fundamental business of Circuit city to execute retail is fatally flawed and not sustainable.
Then again by announcing his buy, that is his intention...
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