RadioShack Corp. (Fort Worth, Texas) announced a 16.5 percent increase in net income for its fourth quarter ended Dec. 31, 2003.
Sales were down less than 1 percent for the quarter, and same-store sales were flat.
For the full year, net income was up 13.3 percent, and sales were up 2 percent.
“Improved management of product mix, supply chain initiatives, markdowns, along with other factors related to gross margin, favorably impacted our quarterly earnings beyond our expectations,” said chairman and ceo Leonard Roberts. “Our organizational disciplines in buying, pricing, staffing and other areas are driving higher profit and better returns for our shareholders. These disciplines will bode well for us in 2004 and beyond.”