Circuit City Group, the second-biggest U.S. electronics chain, said fiscal second-quarter earnings plunged 88% to $6.8 million, or 3 cents a share, as sales of computers fell and costs to renovate and advertise rose. The results were a penny better than analysts' expectations. Revenue dropped 19% to $2.04 billion, the Richmond, Va.-based company said.
The quarterly earnings decline was the fifth in a row at Circuit City, which lost sales to rival Best Buy Co. and reorganized stores to add more digital goods, such as DVDs, analysts said.
