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Circuit City going online
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June 15, 1999: 12:55 p.m. ET
Electronics retailer to launch e-shopping with 700 products initially
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NEW YORK (CNNfn) - Electronics retailer Circuit City Stores Inc. said Tuesday that it is launching an online shopping site in July offering products ranging from computers to vacuum cleaners.
Circuit City (CC) said it will initially offer about 700 different brand-name products for sale over the Internet, including CD players, TVs, fax machines and telephones. The company said it expects to expand the offerings significantly by the end of the year.
The Richmond, Va.-based company, one of the biggest electronics retailers in the nation, said it plans to link the Web site to its chain of stores by allowing customers to order products over the Internet, then pick them up at the store to avoid shipping charges. Customers also will be able to exchange items at the stores instead of shipping them back.
"With Circuit City's E-superstore, customers will find convenient and money-saving options not available from Web-only retailers," CEO Alan McCollough said in a statement. "We believe the tight integration of the Circuit City Web site and our superstores gives the customer the best of both worlds."
He said that the company has learned through its direct order PC business that customers buying big-ticket items prefer to pick them up at the store, in part for security reasons.
Circuit City operates 546 superstores, two consumer electronics-only stores and 46 mall-based Circuit City Express stores. The company's stock was up 2 at 82-1/4 in Tuesday midday trading.
Electronics retailers have been doing swift business recently as the American economy continues to boom. Circuit City said earlier this month that its fiscal first-quarter earnings, which are due for release Wednesday, should exceed analysts' expectations by about 5 cents per diluted share.
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Circuit City
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