RadioShack holiday sales top forecasts, Nov sales seen strong
FORT WORTH, Texas, Nov 27 (Reuters) - Electronics retailer RadioShack Corp. <RSH.N> on Monday said sales over the Thanksgiving weekend exceeded expectations, driven by demand for digital audio, video and communications products.
The Fort Worth, Texas-based company also said because of the strong sales seen throughout the month of November, its same-store sales, or sales at stores open for at least one year, could rise by double-digit percentage points.
Shares of RadioShack surged almost 7 percent by midday, trading up $3-3/8 at $52-5/8 on the New York Stock Exchange.
"This would be especially notable since we are up against last November's comparable-store sales gain of 17 percent and the best November in our company's history," chairman and chief executive Leonard Roberts said in a statement.
RadioShack said weekend sales were driven by strong sales in digital audio and video products, as well as communications devices, such as wireless and cellular telephones, and other types of personal electronics.
"Despite predictions for a slowing economy, RadioShack's solid top-line and bottom-line growth each quarter this year leads us to believe that we are capturing additional market share from our competitors," Roberts said.
The company is expected to report monthly sales figures for November on Dec. 5.
12:21 11-27-00
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