Radio Shack Reports Lower Q4 Earnings

Fort Worth, Texas Radio Shack reported Tuesday that a decrease in consumer purchases impacted its total net sales for the fourth quarter of fiscal 2008, ended Dec. 31, 2008. For the quarter, net sales declined 7.7% to $1.3 billion, compared to $1.4 billion for the same time frame last year.

Same-store sales across company-operated stores and kiosks decreased 9.2% for the quarter, compared to last year. Meanwhile, total net income was $62.0 million, a steep drop from $101.0 million for the fourth quarter fiscal 2007.

Radio Shack’s total net sales for the 52 weeks of fiscal 2008 totaled $4.2 billion, compared with $4.3 billion in fiscal 2007. Comparable-store sales decreased 0.6%, compared with last year. Net income for the fiscal year was $192.4 million, compared with $236.8 million in fiscal 2007.

The company operates approximately 4,400 company-operated stores, 1,400 dealer outlets and about 700 wireless-phone kiosks throughout the United States. It also has approximately 200 company-operated stores in Mexico.