Circuit City timeline

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Timeline
  • Baby boom launched with end of World War II.
    1946
    1946
  • South’s first television station opened in Richmond.
    1948
    1948
  • Facilitated by the new Eisenhower-initiated interstate highway system, suburbia had grown by 35%, becoming home to nearly ? of the American population as well as the center & symbol of the American dream. 85% of these homes had at least one television.
    1960
    1960
  • Bank of America introduces the first general purpose credit card.
    1966
    1966
  • All new television sets include UHF (ultrahigh frequency) tuners, expanding the number of channels they could receive from 13 to more than 70.
    1971
    1971
  • First personal computer is introduced.
    1975
    1975
  • Economy falters as inflation hits 13% and unemployment 9.7%, with continued population growth: 24% between 1980 and 2000, and even more new households created by divorce, singles, etc. Retail industry in transformation form discount and department stores to big box retailers and new mass merchants.
    1980
    1980
  • The Global Economic crisis begins.
    2008
    2008
  • Sam Wurtzel opens first Wards TV store.
    1949
    1949
  • Wards goes public in the “pink sheets”.
    1961
    1961
  • Alan joins Wards. Company embarks on undisciplined expansion.
    1966
    1966
  • Alan Wurtzel becomes CEO.
    1972
    1972
  • Collapse of discount store hosts leaves Ward’s facing bankruptcy.
    1974
    1974
  • Wards opens The Loading Dock, which becomes the superstore prototype.
    1975
    1975
  • Wards closes Dixie Hi Fi stores in the DC market, and reopens them as Circuit City.
    1977
    1977
  • Name of Wards changed to Circuit City Stores, Inc.
    1984
    1984
  • Richard Sharp becomes CEO of Circuit City.
    1986
    1986
  • Circuit City passes $1 billion mark in sales.
    1987
    1987
  • Circuit City achieves $2 billion in sales.
    1990
    1990
  • Circuit City opens the first CarMax showroom.
    1993
    1993
  • Best Buy surpasses Circuit City in sales per store.
    1995
    1995
  • Circuit City became the first national brick-and-mortar specialty retailer to sell consumer electronics online.
    1999
    1999
  • Alan McCollough becomes CEO of Circuit City.
    2000
    2000
  • Circuit City announces expected loss of $70-80 million for 1st Quarter.
    2007
    2007
  • Circuit City closes its doors for good.
    2009
    2009
  • TURNING POINT #1: 1950s
    The initial decision to open a TV store in Richmond, Virginia, shortly after the South’s first TV station went on air.
  • TURNING POINT #1: 1960s
    The discount store revolution caused conventional mom-and-pop TV & appliance stores to struggle.
  • TURNING POINT #1: 1970s
    Most of the many acquisitions Alan and his father, Sam, has made were losing money and all the company’s discount store landlords filed for bankruptcy.
  • TURNING POINT #1: 1990s
    The Circuit City superstores began losing market share to Best Buy & mass merchandisers.
  • TURNING POINT #1: 2000s
    The company understood the need to reinvent itself but proved unable to do so.