Gadgetell | Tech News, Reviews, and Interesting Things

Circuit City turned in second quarter results that looked a lot like a black diamond ski slope.  As reported in a previous Gadgetell article, drastic measures had to be taken with a sudden CEO change three weeks ago.

Hopefully, new CEO, James Marcum, is a good skier.  Maybe you are one of the ones holding your breath about the future of the electronics retailer.  Curious about what impending changes are eminent?

If you are a Circuit City fan, you can relax a little, knowing that Marcum has some experience with moguls through work with Hollywood Entertainment Corp. and Ultimate Electronics.  Not too impressive, but he must be some kind of good to be hired by Circuit City as a director in June, promoted to vice chairman in August, and now to acting CEO in September.  Where can he go from there?

To conquer the mountain. Marcum’s goal is to focus on “consistent and successful execution in key areas that will drive traffic and build customer confidence.“  And he has already gotten started.  In three weeks, here is how far he’s taken Circuit City: 

1. firedog, Circuit City’s customer support division now offers one-on-one in-store training through the Learning Lab. Make an appointment, take your equipment in with you, and they will train you on how to use it. Though this is only available at select stores in Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, Tennessee, and Virginia, it is a start.
2. Partnership in Verizon Communications’ Expert Care initiative to provide Verizon customers with on-site customer support with firedog.  No more network setup headaches.
 
3. One Price Promise plan that guarantees you will get the same price on items online, in-store, and via phone order.  No hidden deals or sales.  If there is a special price, you, the customer, will know about it and you will not have to dig for it.  An effort to show consistency, reliability, and gain our trust back after a pretty rocky path, but will it work?

It just might. Stock prices tell us the trip back up the hill is slow-going.  But it is going: up to 0.40 today from the recent 52-week low of 0.35.  Marcum and the City have a long way to go though to get back to what things were even a year ago at 9.16.

See [stock information ]

Read [Press Release]

Keep up with the latest gadget goodness! - Subscribe to our feed →