RadioShack Profit Rises 8.6 Percent
RadioShack said Thursday that it posted a profit of $53 million in the second quarter, an 8.6 percent increase over the same period last year, as comparable-store sales rose 6.7 percent.
The results were in line with analyst expectations, according to Reuters. The results came amid rumors that the company was ripe for a takeover, although reports earlier this month stated that private equity firms had backed off plans to bid for RadioShack.
“In the second quarter, we worked hard to continue to strengthen our brand with particular emphasis on the mobility sector. We are pleased with the response to date and are focused on continuing to deliver a high-quality shopping experience for our customers,” Julian C. Day, chairman and chief executive officer, said as part of the announcement.
“In addition, our partnerships with LIVESTRONG and Team RadioShack are transforming our brand and helping us engage with consumers and raise brand awareness.”