Sugar Shack

RadioShack Corp. (Fort Worth, Texas) announced an 8 percent gain in total sales for the third quarter ended Sept. 30, 2005. Same-store sales were 1 percent.

The consumer electronics retailer also reported a 56 percent gain in net income for the quarter, due to a tax accounting detail.

“We made important progress during the third quarter to better position ourselves for the holiday selling season and the long term,” said president and ceo David Edmondson. “We made aggressive moves on inventory and finished deploying operating procedures, which will improve the customer experience in our stores. We also finalized long-term wireless agreements and returned value to shareholders through an overnight share repurchase transaction which better positions us as a corporation.”

Wireless sales were up 15 percent in the quarter, due to growth in RadioShack's kiosk channel but offset by a decline in wireless sales in its company stores. Non-wireless sales were up 5 percent, due to gains in personal electronics and services.