Tuesday, April 28, 2009

Radio Shack brings us some good news

Radio Shack is not exactly the coolest name in retail, and a couple years ago I couldn't resist posting this bit of satire from The Onion, purporting to quote the chain's CEO:

"I'd like to capitalize on the store's strong points, but I honestly don't know what they are," Day said. "Every location is full of bizarre adapters, random chargers, and old boom boxes, and some sales guy is constantly hovering over you. It's like walking into your grandpa's basement. You always expect to see something cool, but it never delivers."

Added Day: "I may never know the answer. No matter how many times I punch the sales figures into this crappy Tandy desk calculator, it just doesn't add up."
But Day may be having the last laugh:
Net income rose to $43.1 million, or 34 cents a share, from $38.8 million, or 30 cents a share, a year earlier. Revenue grew 5.6% to $1 billion.

Analysts had, on average, been expecting Ft. Worth-based RadioShack to earn 20 cents a share on revenue of $944.8 million, according to consensus estimates derived in a FactSet Research survey.
The numbers may be inflated by sales of digital converters, but anybody who's showing good increases right now is doing something right.

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