Circuit City stock tumbles after weakened outlook

SAN FRANCISCO (Dow Jones) -- Shares of Circuit City Stores Inc. slumped 10% late Monday after the company forecast a loss from continuing operations for the first quarter of fiscal 2008 and withdrew its previously issued outlook for the first half of the full-year 2008 period.

Shares of the electronics retailer (CC (Charts, Fortune 500)) fell to $15.70 in after-hours trade, down $1.75 .

Circuit City said it " experienced substantially below-plan sales" in April, mostly in large flat-panel and projection TVs.

The company subsequently said it expects to post a pre-tax loss from continuing operations of $80 million to $90 million in the first quarter of fiscal 2008; it also forecast pre-tax earnings from continuing operations as a percentage of consolidated net sales at the low end of its prior forecast range of 1.4% to 1.8% for the full-year 2008 period.

Circuit City also withdrew its previously issued guidance for the first half of fiscal year 2008.

The company also revised its fiscal 2007 results by $3.5 million, or 2 cents a share. (END) Dow Jones Newswires 04-30-07 1706ET Copyright (c) 2007 Dow Jones & Company, Inc.