twice connect
careers

RadioShack Has Upbeat Q2 Results

8/02/2010 12:01:00 AM Eastern

FORT WORTH, TEXAS — RadioShack,
which has been subject of takeover rumors
in recent weeks, reported higher
net sales and net earnings for the second
quarter, ended June 30.

Total net sales and operating revenues
for the quarter increased 4.7 percent
to $1.01 billion, compared with
$965.7 million for the prior year’s second
quarter.

Net income for the second quarter increased
8.6 percent to $53 million, compared
with net income of $48.8 million
reported for the same period last year.

Comp-store sales for company-operated
stores and kiosks increased 6.7
percent during quarter, compared with
the prior year.

RadioShack said its recently completed
a pilot of wireless kiosk locations
inside Target stores and now plans to
rollout kiosks in the majority of Target
store locations by mid-2011. The full
mobile service, known as Bullseye Mobile,
will begin rolling out to select Target
stores Aug. 15.

The 4.7 percent increase in total net
sales and operating revenues for the
2010 second quarter was driven by a
$52.5 million or 6.4 percent increase in
sales generated by U.S. company-operated
stores. The 6.7 percent increase
in comp-store sales for company-operated
stores and kiosks during the 2010
second quarter was driven by higher
postpaid wireless sales, the addition
of T-Mobile as a third postpaid wireless
carrier in company-operated stores,
and higher sales of prepaid wireless
handsets and airtime. These increases
were partially offset by a decline in
sales of digital converter boxes.

Want to read more stories like this?
Get our Free Newsletter Here!

Curated By Logo