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RadioShack reports strong 2Q sales and income, anticipates robust full year

Published

21 years ago

July 22, 2003

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RadioShack Corp. (Fort Worth, Texas) announced an 11 percent increase in second quarter net income for the period ended June 30, 2003.

Both total sales and same-store sales were up 3 percent.

Wireless communications department sales for the second quarter of 2003 were up 14 percent.

“RadioShack's second quarter financials were primarily the result of striking a prudent balance between sales and profitability, as executed by our merchants and field associates,” said chairman and ceo Leonard Roberts. “Strong sales in the wireless and toy departments combined with excellent profitability improvement in the computer and power-technical departments, made for very respectable financial results.”

For the full year 2003, the consumer electronics retailer said it anticipates earnings per share to be about 15 percent higher than last year. The assumptions include approximately 3.5 percent-4 percent growth in sales.

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