Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
FOSS MICHAEL
  2. Issuer Name and Ticker or Trading Symbol
CIRCUIT CITY STORES INC [CC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Principal Financial Officer
(Last)
(First)
(Middle)
9950 MAYLAND DRIVE
3. Date of Earliest Transaction (Month/Day/Year)
04/17/2007
(Street)

RICHMOND, VA 23233
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Purchase) $ 6.81 04/17/2007   D(1)     7,500   (1) 06/16/2011 Common Stock 7,500 (1) 0 D  
Employee Stock Option (Right to Purchase) $ 6.81 04/17/2007   A(1)   7,500     (1) 12/31/2007 Common Stock 7,500 (1) 7,500 D  
Employee Stock Option (Right to Purchase) $ 16.62 04/17/2007   D(2)     200,000   (2) 06/21/2015 Common Stock 200,000 (2) 0 D  
Employee Stock Option (Right to Purchase) $ 16.62 04/17/2007   A(2)   100,000     (2) 12/31/2007 Common Stock 100,000 (2) 100,000 D  
Employee Stock Option (Right to Purchase) $ 12.84 04/17/2007   D(3)     25,000   (3) 08/17/2014 Common Stock 25,000 (3) 0 D  
Employee Stock Option (Right to Purchase) $ 12.84 04/17/2007   A(3)   25,000     (3) 12/31/2007 Common Stock 25,000 (3) 25,000 D  
Employee Stock Option (Right to Purchase) $ 7.395 04/17/2007   D(4)     37,500   (4) 06/17/2013 Common Stock 37,500 (4) 0 D  
Employee Stock Option (Right to Purchase) $ 7.395 04/17/2007   A(4)   37,500     (4) 12/31/2007 Common Stock 37,500 (4) 37,500 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
FOSS MICHAEL
9950 MAYLAND DRIVE
RICHMOND, VA 23233
  X     Principal Financial Officer  

Signatures

 /s/Alice G. Givens, Attorney-in-fact   04/19/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on June 16, 2003 and provided for vesting in three equal annual installments commencing on June 16, 2004. Vesting was accelerated for 7,500 non-qualified stock options that otherwise would not have become vested due to the reporting person's resignation. The post-termination exercise period was extended to December 31, 2007.
(2) The reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on June 21, 2005 and provided for vesting in three equal annual installments commencing on June 21, 2006. Vesting was accelerated for 50,000 non-qualified stock options that otherwise would not have become vested due to the reporting person's resignation. The post-termination exercise period was extended to December 31, 2007 for the 50,000 options accelerated and for 50,000 options that were previously vested. The remaining 100,000 options from the original grant were forfeited and cancelled.
(3) The reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on August 17, 2004 and provided for vesting in three equal annual installments commencing on September 1, 2005. Vesting was accelerated for 8,333 non-qualified stock options that otherwise would not have become vested due to the reporting person's resignation. The post-termination exercise period was extended to December 31, 2007 for the 8,333 options accelerated and for 16,667 options that were previously vested.
(4) The reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on June 17, 2003 and vested 100% on February 28, 2006. The post-termination exercise period was extended to December 31, 2007.

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