RadioShack

RadioShack Corp. (Fort Worth, Texas) has announced a 3 percent gain in total sales for its first quarter ended March 31, 2005.

Net income fell 19 percent. Same-store sales were down 1 percent.

“We are disappointed that our business did not perform as we originally expected during the first quarter,” said president and ceo-elect David Edmondson. “Our profits were lower due primarily to underperformance in the wireless business within our core RadioShack stores. Our non- wireless businesses improved in first quarter 2005, compared with first quarter 2004. RadioShack remains a very profitable business overall, but our focus clearly must be on turning our wireless business around, while continuing to improve our non-wireless businesses.”