RadioShack 3Q comps up 6.2%
FORT WORTH, Texas RadioShack reported that total net sales and operating revenues for the 2010 third quarter increased 6.2% to $1.05 billion, compared with $990 million for the 2009 third quarter. Net income for the third quarter increased 23% to $46 million, or 37 cents per diluted share, compared with net income of $37.4 million, or 30 cents per diluted share, reported for the same period last year. Comparable-store sales for company-operated stores and kiosks increased 6.2% during the 2010 third quarter, compared with the 2009 third quarter.
The 6.2% increase in comparable store sales for company-operated stores and kiosks during the 2010 third quarter was driven primarily by higher postpaid wireless sales, particularly sales of latest technology smartphone devices, the company reported.
"We are pleased with our third-quarter results, which reflect our continued focus on offering customers an enhanced shopping experience together with compelling product and service offerings," said Julian Day, chairman and CEO. "In addition to the continued growth in our wireless business, we are encouraged by the improvements in our non-wireless product categories, including accessories and power. We plan to maintain our focus on enhancing the quality of our operations and service, strengthening our product offerings, and revitalizing and contemporizing our brand, while at the same time looking for further opportunities to broaden the base of customers we serve."