Circuit City, the No. 2 U.S. electronics retailer, posted a net profit of $21.1 million (10 cents per share) in the quarter ended November 30, compared to a loss of $64.4 million a year ago. The company said that its marketing shift towards its inventory of entertainment products, notably the Xbox and Gamecube, had paid off.
Best Buy, the country's largest electronics retailer, reported that its profits rose 40 percent in the quarter, to $80 million (37 cents per share).
