Circuit City (NYSE: CC), the second-largest consumer electronics retailer in the U.S., has named John T. Harlow as Chief Operating Officer at a time when the retailer is in one of the worst funks of its life. CEO Phil Schoonover is reportedly on his way out the door as Circuit City's sales plummet every month and quarter.So, why a new COO now? Because something -- anything -- is needed to shake up the company and get it back on track to consistent profits (or even smaller losses) as 2008 gets under way.
Harlow, a veteran of the consumer electronics industry, has been involved with Circuit City for about a year as a consultant with Deloitte Consulting. Although it's hard to imagine that supply chain and information technology issues will be at the top of his agenda, his marching orders need to include how to get more folks in stores and more of those buying products instead of going to the competition. Namely, Best Buy (NYSE: BBY).
One of the worst decisions the retailer made in 2007 was the releasing of over 3,000 employees to cut labor costs, which seems to have only helped the company lose sales and stock price as a result. Whatever Harlow can do to revive sales, profit and other pertinent details concerning floundering Circuit City would be most welcome. On another note, George Clark, VP of multichannel sales, is leaving the company as Harlow assumes responsibility for many of Clark's responsibilities. A COO with multichannel sales responsibility? 2008 should be interesting to watch. Next up: the CEO's possible boot in a few weeks.
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Reader Comments (Page 1 of 1)
1-28-2008 @ 3:09PM
thomas pierce said...
Worst expierience I have ever had in a consummer retail store.
7-25-2008 @ 7:06PM
Lee Coats said...
How do I get mailing adress for John Harlow CEO at Circut City Thank you Lee Coats
1-18-2008 @ 4:23PM
roudy11z said...
Lets give the boy a chance and hope for the best. RoudMan
1-18-2008 @ 4:28PM
Dale said...
The sorry way customers are treated i n there stores is a valid reason for losing money,i for one have my last dollar there
1-21-2008 @ 6:56PM
Rocki said...
CC needs a major overhaul in personel. The new CEO should take a tour and visit some of the stores and it will be pretty plain to see why sales dropped off. Customer appreciation is non existant.