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ODP delivers earnings growth, but sales weak
BOCA RATON, Fla. — Office Depot delivered higher profits for its third quarter, but sales were down thanks in part to weak comps at its North American retail division. Office Depot reported that total company sales for the third quarter of 2011 were $2.8 billion, a 2% decrease compared with the third quarter of 2010. Net earnings for the quarter were $92 million, or 28 cents per diluted share, compared with $32 million or 12 cents per diluted share for the same period last year.
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RadioShack announces new capital allocation strategy
Fort Worth, Texas -- RadioShack Corp. announced Tuesday a 100% increase in its dividend and the authorization of a $200 million share repurchase program as part of a new capital allocation strategy.
The strategy, according to the company, is designed to balance business growth opportunities with continued strong cash flow and provide a more consistent return of excess cash to long-term shareholders.