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At one time, electronics giants Best Buy and Circuit City seemed to share the market without any clear fiscal winner.  Circuit City was often credited with building one of the first successful box stores back in the 1980s.  However, recent financial reports show that Best Buy has gained market dominance while Circuit City is struggling to keep its doors open.  Even with 155 Circuit City stores liquidated in the final weeks of 2008, revenues did not improve.

As Circuit City stocks plummet, the company is in talks with multiple parties interested in purchasing the electronics chain.  These sales can help the company pay off creditors that are owed money by Circuit City.  As bankruptcy proceedings move along, the need to sell the chain is vital, especially if there is a chance that the brand would survive.  Otherwise, it is expected that as soon as January 16th, Circuit City could liquidate.

Best Buy on the other hand is making money, although still taking a hit from the recession.  Best Buy revised their expectations and now revenue is up 4 percent although holiday sales fell 6.5 percent during the 2008 season.  The company particularly saw increased sales in mobile phones, computing, home theater and music.  Best Buy is optimistic about their earnings and expects to continue to make market gains as 2009 continues.

Read [Washington Post]
Also Read [Baltimore Sun]