Circuit City Delays Earnings Report

Expect more of these announcements as, given the difficulties of ensuring full compliance all at once, some delays can be expected. It needs to be announced correctly, otherwise the markets will react.

OAM

See article:

Electronics retailer Circuit City Stores Inc. said it will delay reporting fourth-quarter and fiscal 2005 earnings one to two weeks as it grapples with accounting for leases.

The company said it expects earnings for the year ended Feb. 28 of 33 cents to 35 cents a share, before lease accounting adjustments. That forecast includes 15 cents a share for the cost of closing 19 stores, one distribution center and five regional offices.

See full Article.