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Strategies & Market Trends : Turnarund Investing -- Ignore unavailable to you. Want to Upgrade?

To: bankbuyer who wrote (934)

5/1/2012 6:35:42 PM

From: bankbuyer

1 Recommendation Read Replies (2) | Respond to of 1876

Re RSH has a legacy sales mix problem

The following table provides a summary of our consolidated net sales and operating revenues by platform and as a percent of net sales and operating revenues. These consolidated platform sales include sales from our U.S. RadioShack company-operated stores and kiosks, as well as other sales.

	Consolidated Net Sales and Operating Revenues
	Year Ended December 31,
(In millions)	2010				2009				2008
Wireless	$	2,128.2	47.6	%	$	1,634.3	38.2	%	$	1,388.5	32.9	%
Accessory (1)		858.2	19.2			1,036.3	24.2			1,140.0	27.0
Modern home		516.6	11.5			585.3	13.7			556.8	13.2
Personal electronics		412.5	9.2			463.6	10.9			565.4	13.4
Power		222.0	5.0			225.3	5.3			243.1	5.7
Technical		179.5	4.0			181.3	4.2			184.5	4.4
Service		130.3	2.9			114.5	2.7			93.8	2.2
Other sales (2)		25.4	0.6			35.4	0.8			52.4	1.2
Consolidated net sales and operating revenues	$	4,472.7	100.0	%	$	4,276.0	100.0	%	$	4,224.5	100.0	%

To: bankbuyer who wrote (934)	5/1/2012 6:52:48 PM
From: grahamcracker	1 Recommendation Read Replies (1) \| Respond to of 1876

Re RSH has an ad expense problem I'm not sure I'm seeing what you mean. At any rate, whatever you're seeing, IMO, it's a smaller part of one of the BIG problems: 1. Recession/ over-leveraged consumer/ bouts of consumer retreat that will last a long time. 2. Amazon, et. al. 3. Apple's current death grip on retailers. I'm thinking the leases may actually be a plus. They should have undue sway with landlords at this point and I'm assuming they've got generally decent locations (about as good as brick and mortar can be). I think the real troubles are this simple, everything else can be traced to it. It may be that these things are providing cover for mgmt to some smaller issues, but it's a hell of a good cover. And I don't know what they can really do about the above except wait it out. As far as the K's, i generally don't even bother with the Q's until I have a handle on the K. Q's give a little bit of color. My hitting Control + F and then searching keywords makes it hard to hide stuff from me for too long. I suppose they could mix up the language but even that's pretty limited. My ignorance is probably my biggest enemy (not always knowing exactly what to look for).