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You know, Sam Wurtzel could have stayed in his chair and gotten
his haircut. Instead, once he saw the South's first television
station go up across from his barber's shop, he decided to follow
his vision. This vision was WARDS TV in 1949. Sam sold televisions
from a tire-recapping store long before anyone came up with
the idea of a home electronics store or home electronics for
that matter. The company now called Circuit City is a Fortune
200 company delivering over 50 years of exceptional customer
service and value, and over $10 billion in yearly sales. We
believe our accomplishments speak for themselves.
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1949
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Sam Wurtzel founds the company by displaying
six TVs in a tire-recapping store in Richmond, Virginia
to take advantage of the first TV broadcast station in
the South. Over the next few decades, the company grows
through the acquisition of businesses such as audio specialty
retailers, stand-alone discount stores, and warehouse
showrooms.
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1977
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Several existing stores are replaced with
new concept Circuit City stores that feature top brand-name
audio and video products, an in-store Service Department,
convenient pick-up area, and knowledgeable Sales Associates.
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1979
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The company launches the Superstore format
featuring 32,000 square-foot stores carrying brand-name
consumer electronics and major appliances. This format
soon becomes the mainstay of Circuit City's future growth.
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1984
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The company is renamed Circuit City Stores,
Inc. and is listed on the New York Stock Exchange for
the first time.
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1990
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First North American National Bank is
established to operate Circuit City's private-label credit
card program.
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1999
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Circuit City launches the award winning
eCommerce site, circuitcity.com
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2000
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With a presence in 45 states, Circuit
City operates more locations in more markets than any
other consumer electronics specialty retailer. The company
has more than 600 retail outlets, 7 service centers, and
10 distribution centers.
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2002
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Circuit City Stores, Inc. completes the
separation of CarMax. The separation eliminates the company's
tracking stock structure and two common stock series -
Circuit City Group Common Stock and CarMax Group Common
Stock. Effective October 1, 2002, the Circuit City Group
Common Stock is renamed Circuit City common stock and
represents an ownership interest only in the Circuit City
business, and CarMax, Inc. becomes an independent, separately
traded public company.
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2003
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Given the strong sales lift and internal
rate of return seen with relocated stores after their
first six months, Circuit City accelerates its relocation
program. In fiscal 2004, Circuit City relocates 18 stores
and opens eight new stores.
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2004
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Circuit City agrees to sell its private-label credit
card operation, including both its private-label Circuit
City credit card accounts and its co-branded Circuit
City Plus Visa credit card accounts, to Bank One Corporation.
Circuit City and Bank One will enter into an ongoing
arrangement under which Bank One will offer private-label
and co-branded credit cards to both new and existing
customers.
Circuit City announces it has purchased the assets
of MusicNow, a leading digital music platform.
InterTAN, Inc., a leading consumer electronics retailer
of both private-label and internationally branded products
with headquarters in Barrie, Ontario, becomes a subsidiary
of Circuit City following a tender offer in which Circuit
City acquired the outstanding shares of InterTAN, Inc.
As part of its store revitalization program, Circuit
City plans to open 60 to 70 new Superstores with a fairly
even split between store relocations and incremental
stores in new trade areas.
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