From Reuters:

Electronics retailer Circuit City Stores (CC.N: Quote, Profile, Research, Stock Buzz) posted a wider quarterly loss and withdrew its financial outlook as it reviews its business ahead of the key holiday shopping season, sending its shares down 8 percent.

The company, which last week announced the immediate exit of its chairman and chief executive officer, also said on Monday it would suspend store openings beginning with its 2010 fiscal year to focus on turning around its operations.

“These guys face a big uphill climb,” said Joe Feldman, managing director of Telsey Advisory Group. “The busiest time of the year is fast approaching and are they going to be able to execute properly is going to be a big concern.”

With the US consumer no longer able to access home equity in order to afford things like over-sized widescreen televisions, Circuit City is going to have a very difficult time of it for the foreseeable future.

one less tv, originally uploaded by Kevin Steele.