Replies to post #88377 on Naz News, Gappers and FLE''s

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RSH...24.90 + 2.45, nice report...RadioShack posts higher quarterly profit
Tuesday February 27, 7:29 am ET


NEW YORK (Reuters) - Consumer electronics retailer RadioShack Corp. (NYSE:RSH - News) on Tuesday reported higher fourth-quarter profit on improved inventory management, fewer markdowns and lower expenses.
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Earnings rose to $84.5 million, or 62 cents a share, from $51.2 million, or 38 cents a share, a year earlier.

Sales fell to $1.46 billion from $1.67 billion, driven by the impact of closed stores and the decline in comparable-store sales.

In the face of declining sales of wireless products, the company is trying to stabilize its business by closing stores, clearing out slow-moving inventory and replacing it with more popular products.

In July, RadioShack installed turnaround veteran Julian Day as chief executive to replace David Edmondson, who resigned last February after admitting he lied about his academic record.

The company forecast earnings of $1 to $1.20 a share for 2007.

Analysts on average had expected a profit of 90 cents a share, according to Reuters Estimates.