Electronics retailer Circuit City says it’s still considering strategic alternatives

RICHMOND, Va. (AP) _ Circuit City says it’s still considering a sale of the Richmond consumer electronics retailer.

The statement Tuesday comes four months after the company first announced it was reviewing its options to improve shareholder value.

Chief Executive Philip Schoonover says Circuit City remains committed to its turnaround plan. But he says the company continues to pursue strategic alternatives that offer the best possible long-term results for its shareholders.

Circuit City had announced in May that it had hired Goldman Sachs and Company to explore its options, but has never given an official timetable for any action. The move came as it opened its books to Blockbuster in its more than $1 billion takeover bid for the company.

In July, Dallas-based movie-rental chain withdrew its bid, citing market conditions.

Circuit City also said Tuesday it appointment director James Marcum as the board’s vice chairman.

Copyright 2008 The Associated Press.