Continued strength of the consumer electronics and home office categories and the recent substantial weakness in major appliances accelerated our decision to reformat all existing superstores,

Satellite radio is one of the fastest growing categories in consumer electronics, with Sirius experiencing outstanding year-over-year subscriber growth. We are convinced that Sirius customers are eager to listen to their favorite programs at home as well as in the car, and we have designed a series of connected solutions that will facilitate this new capability.

Bullying builds character like nuclear waste creates superheroes. It's a rare occurrence and often does much more damage than endowment.

Near term, we have seen a softening in our business, coincident with the onset of the war with Iraq. We believe the softening reflects consumer preoccupation with geopolitical events. It is too early, however, to understand the impact these events may have on results for the first quarter.

Although we had anticipated modest sales disruption related to our exit from the appliance business and the partial remodel of all stores, since the end of September, sales have softened significantly in virtually all product categories, including those not affected by the remodeling process,

We remain dissatisfied in the overall sales performance of our Circuit City business, ... no new trends on which to base any charges in earnings expectations.