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RadioShack sales, profits down on weak mobile category
FORT WORTH, Texas — Comps were down 7% at RadioShack for the fourth quarter, driven by a decline in the mobility and consumer electronics platforms. Total sales and and operating revenue were $1.3 billion, compared with $1.4 billion last year.
The company reported a fourth-quarter net loss of $63 million, or 63 cents per diluted share, compared with net income of $12 million last year.
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Tax delay dents AutoZone sales
A 1.8% decline in second quarter same store sales at AutoZone was attributed to a two week tax return processing delay by the Internal Revenue Service.
The delay kept tax refunds out of the hand of AutoZone customers inclined to perform maintenance on their vehicles during the retailer’s second quarter ended February 9. Last week, Walmart also cited the tax processing delay as a source of sale weakness when it reported a 1% comp increase that was at the low end of its forecast range for a 1% to 3% increase.