Circuit City 1999 Annual Report Download - page 9

The Company's primary facilities, which are leased except where otherwise indicated, are as follows:
ITEM 3. LEGAL PROCEEDINGS.
In March 1998 the Company filed suit against a bankrupt supplier and its lenders seeking monetary damages of $2.8 million plus interest for
breach of contract and warranty. In September 1998 the defendants denied the Company's allegations and counterclaimed alleging outstanding
amounts owed and damages totaling $12.2 million plus interest. In December 1999, the parties agreed to settle the lawsuit and dismiss their
respective claims. After the payment of a cash settlement, the Company's fourth quarter results of operations were positively impacted ($3.0
million net of taxes) by the reversal of amounts previously reserved for in connection with this lawsuit.
The Company is a party to various other legal actions arising in the normal course of business, none of which, in management's opinion, is
anticipated to have a material adverse effect on the Company's consolidated financial position or results of operations.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
During the quarter ended December 31, 1999, there were no matters submitted to a vote of the Company's security holders.
PART II
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.
The Company's Common Stock is traded on the New York Stock Exchange under the symbol "SYX". The following table sets forth the high
and low sales price of the Company's Common Stock as reported on the New York Stock Exchange for the periods indicated.
On March 17, 2000, the last reported sale price of the Company's Common Stock on the New York Stock Exchange was $9 1/8 per share. As
APPROX EXPIRATION
FACILITY LOCATION SQ. FT. OF LEASE*
-------- -------- ------- ---------
Headquarters, Sales and
Distribution Center, Catalog
Operations(1)....................Port Washington, NY 178,000 2007
Sales and Distribution Center(1)...Suwanee, GA 130,000 2000
Sales and Distribution Center......Compton, CA 140,000 2007
Sales and Distribution Center......Naperville, IL 241,000 2010
Sales Center.......................Holmdel, NJ 51,000 2002
Sales and Distribution Center......Markham, Ontario 45,000 2005
Sales and Distribution Center......Verrieres le Buisson, France 24,000 2002
Sales and Distribution Center......Dreieich, Germany 92,000 2010
Sales and Distribution Center......Madrid, Spain 35,000 (2)
Sales and Distribution Center......Milan, Italy 45,000 2003
Sales and Distribution Center......Greenock, Scotland 78,000 owned
Sales and Distribution Center......Wellingborough, England 45,000 2013
Sales and Distribution Center......London, England 64,000 2007
Sales Center.......................Miami, FL 71,000 2010
Sales Center.......................Amstelveen, Netherlands 5,000 2000
PC Assembly, Sales
and Distribution Center.........Fletcher, Ohio 297,000 owned
European Headquarters..............Uxbridge, England 7,400 2005
-----------
(1) Facilities leased from related parties. See "Certain Relationships and
Related Transactions--Agreements-- Leases and Related Guarantees."
(2) Terminable upon two months prior written notice.
* The Company does not anticipate any difficulty in renewing or replacing
the Company's existing facility leases when such leases expire.
1999 HIGH LOW
FIRST QUARTER....................... $23 1/16 $12 3/4
SECOND QUARTER...................... 18 1/8 10 1/16
THIRD QUARTER....................... 11 3/4 8 3/8
FOURTH QUARTER...................... 10 7 5/16
1998
First quarter....................... $23 1/16 $ 15
Second quarter...................... 22 3/8 12 1/2
Third quarter....................... 14 3/8 12 1/16
Fourth quarter...................... 25 1/4 9 1/4