State accuses Circuit City of deceptive practices
Published in the Asbury Park Press 12/07/04
By WILLIAM CONROY
BUSINESS WRITER
The state filed suit against Circuit City Stores Inc. yesterday, accusing the electronics chain of deceptive practices in 0-percent financing promotions, advertising for-sale items that shoppers could not buy and failing to honor promised rebates and warranties.
"In the midst of the holiday shopping season, Circuit City's alleged actions appear designed to prevent customers from getting their money's worth," Attorney General Peter C. Harvey said in a prepared statement.
Meanwhile, shares of the company had their biggest decline in 11 months after it reported third-quarter revenue that did not meet analysts' expectations. Third-quarter revenue rose 3.8 percent, hurt by fewer discounts and a drop in movie sales. The chain is the No. 2 electronics retailer behind Best Buy Co.
Read entire story by following the link.
Published in the Asbury Park Press 12/07/04
By WILLIAM CONROY
BUSINESS WRITER
The state filed suit against Circuit City Stores Inc. yesterday, accusing the electronics chain of deceptive practices in 0-percent financing promotions, advertising for-sale items that shoppers could not buy and failing to honor promised rebates and warranties.
"In the midst of the holiday shopping season, Circuit City's alleged actions appear designed to prevent customers from getting their money's worth," Attorney General Peter C. Harvey said in a prepared statement.
Meanwhile, shares of the company had their biggest decline in 11 months after it reported third-quarter revenue that did not meet analysts' expectations. Third-quarter revenue rose 3.8 percent, hurt by fewer discounts and a drop in movie sales. The chain is the No. 2 electronics retailer behind Best Buy Co.
Read entire story by following the link.
