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Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (14444)	2/24/2009 9:49:10 AM
From: Smiling Bob	Read Replies (2) \| Respond to of 19256

RSH RadioShack 4th-quarter profit drops 39 percent Tuesday February 24, 7:10 am ET RadioShack 4th-quarter profit slides as consumers curb discretionary spending during recession FORT WORTH, Texas (AP) -- Consumer electronics retailer RadioShack Corp. said Tuesday that its fourth-quarter profit dropped 39 percent as consumers pulled back on their discretionary spending amid a deepening recession. ADVERTISEMENT Net income slid to $62 million, or 50 cents per share, from $101 million, or 77 cents per share, in the same quarter a year ago. Revenue declined 7 percent to $1.26 billion from $1.36 billion. Analysts polled by Thomson Reuters expected fourth-quarter profit of 70 cents per share on sales of $1.36 billion. Same-store sales at company-run stores and kiosks fell 9.2 percent on softness in the retailer's GPS, memory player, imaging and toy merchandise categories. Same-store sales, or sales at stores open at least a year, are a key indicator of retailer performance because they measure growth at existing stores rather than newly opened ones. RadioShack, like many other retailers, has struggled as consumers curb their spending due to the prolonged housing downturn, eroding credit, increasing food costs and unemployment concerns. "Our financial results for the fourth quarter obviously reflect the recessionary retail trading environment we face," Chairman and Chief Executive Julian Day said in a statement. For the full year, earnings sagged 19 percent to $192.4 million, or $1.49 per share, from $236.8 million, or $1.74 per share, in 2007. Full-year sales slipped 1 percent to $4.22 billion from $4.25 billion, while same-store sales for company-operated stores and kiosks dipped 0.6 percent. RadioShack has about 4,400 company-operated stores, 1,400 dealer outlets and nearly 700 wireless phone kiosks throughout the U.S. and approximately 200 company-operated stores in Mexico. In premarket activity, shares of RadioShack dived $1.82, or 16.8 percent, to $9. The stock has traded in a 52-week range of $8.06 to $19.9