Circuit City details 4th-quarter charge, expenses
CHICAGO, March 28 (Reuters) - Circuit City Stores Inc. CC.N, which is replacing 3,400 store employees with lower-paid workers and making other changes, gave details of the costs expected from those plans on Wednesday, such as recording a non-cash impairment charge of $92 million.
Circuit City, which is also exploring a possible sale of its InterTAN Inc. Canadian unit, said it expects to record fourth-quarter pretax expenses of $11.7 million related to employee terminations and $31 million related to exit and business disposition activities.
((Reporting by Jessica Wohl; Reuters Messaging: firstname.lastname@example.org; +312-408-8132; e-mail: email@example.com)) Keywords: CIRCUITCITY CHARGES/
(C) Reuters 2007. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nWEN5850
- Islamic State threat 'beyond anything we've seen': Pentagon
- British Muslims blame jihadi subculture after beheading video |
- Israeli air strike kills three Hamas commanders in Gaza |
- U.S. aid workers who survived Ebola leave Atlanta hospital |
- National Guard to withdraw from riot-torn Ferguson, Missouri |