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Oct 18, 2023 · A Retail Pioneer’s Decline: Founded in 1949, Circuit City was a trailblazer in the electronics retail space, known for its expansive selection, knowledgeable staff, and innovative store layout....
In 2003, Circuit City finally decided to eliminate its com-missioned sales force. In one day, the company fired 3,900 of its highest-paid salespeople, with plans to replace them with 2,100 hourly associates. The move crushed employee morale and productivity.
Circuit City lost the lawsuit and all Canadian locations were renamed The Source by Circuit City in 2005. [36] These stores were sold to Bell Canada and continue to operate. Circuit City's most recent store format nicknamed "The City", used from 2008 to 2009.
Jan 16, 2009 · Circuit City, the second-largest U.S. electronics retailer behind Best Buy, is based in Richmond, Virginia. The company filed for Chapter 11 bankruptcy protection in November 2008.
Nov 29, 2012 · Not many years ago, Circuit City stood out as perhaps the premier name in the highly competitive sector of consumer electronics and a prominent corporate presence in Virginia. No longer. The author of Good to Great to Gone is uniquely placed to relate this story.
Apr 9, 2024 · Circuit City’s trajectory from success to bankruptcy serves as a sobering reminder of the perils of complacency and strategic misalignment in the ever-evolving landscape of retail.
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Why did Circuit City lose its competitive advantage?
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Circuit City lost its competitive advantage largely for several reasons, including: · Failing to invest in its core competencies to limit competitor imitation. · Unrelated diversification into CarMax and video rentals that distracted management from its core business.
