Dallas-Fort Worth, Texas News
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Watauga teen who gave pot to toddlers gets 8 years
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DallasNews.com – 13 hours, 31 minutes ago ¦ comment?
Read full story for latest details.
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RadioShack shares jump nearly 14% on higher sales
By BARRY SHLACHTER While Wall Street slumped, shares of RadioShack soared nearly 14 percent Thursday thanks to better-than-expected earnings fueled by higher sales of digital-to-analog TV converter boxes, GPS devices, video games and AT&T wireless phones. Second-quarter income actually fell from the same period last year, to $41.4 million, or 32 cents per share, from $47 million, or 34 cents. Results included a $10 million reversal of an income-tax contingency reserve in 2007 and a one-time $4.3 million charge related to changes in the company’s headquarters lease.Excluding those factors, however, profit rose to 35 cents per share compared with 27 cents last year. Analysts had predicted 26 cents."The economic environment continues to be challenging, however, as a credit to our team, we are pleased with our progress as we begin to drive profitable growth," Chief Executive Julian Day said."We continue our focus on opportunities to offer our customers solutions to their needs," Day said in a statement. "Our improved sales this quarter reflect our success in improving our merchandising, store operations and overall customer experience."Same-store sales, a key indicator, climbed about 6.9 percent, boosting total sales to $994.9 million from $934.8 million. Analysts had expected sales of about $908 million.The end of analog TV transmissions in early 2009 boosted sales of converter boxes, while slipping demand for Sprint phones represented a drag on the retailer’s sales. "But for the Sprint post-paid and related wireless accessory business, comparable store sales in the second quarter would have increased 12.7 percent," the company’s statement said.Company-owned stores had a 7.5 percent increase in sales, dealer/franchise outlets realized a 6.1 percent gain, and RadioShack’s online business jumped 29.8 percent. These increases were partially offset by a 2.7 per- cent decline in the Sprint ki- osk business. There was some improvement at RadioShack’s kiosks in Sam’s Club stores.RadioShack boosted store payrolls to improve customer service and drive profitable same-store sales, it said."We believe sales were also helped a bit by improved labor scheduling in the stores," Scot Ciccarelli, an analyst with RBC Capital Markets, wrote in a research note.Ciccarelli noted that sales of AT&T phone sales significantly improved despite RadioShack not carrying the iPhone."I’m very happy with their numbers," said Bill Baldwin of Dallas-based Baldwin Anthony Securities, whose affiliate holds a position in RadioShack. "It shows management is successful in focusing on top-line growth despite head winds from the economy. The gross margin is a little bit less than I expected but understandable because of the product mix and the tough promotional environment. But then sales were much better than I expected."Gross margins slid slightly more than 1 percentage point, to 47.2 percent, in the past year because of a slowdown in highly profitable post-paid wireless activations."We believe that RadioShack’s convenient store locations helped [it] capitalize on the sale of . . . converter boxes," Morgan Stanley analyst Greg Melich said in a research note. And although Melich expects such sales to continue this quarter, he cautioned that the shift toward lower-margin products and keener competition from Best Buy’s rollout of a mobile store-within-a-store will make RadioShack’s recovery more challenging."Our thesis remains that RadioShack is a decaying business model where the higher-service model in wireless activation is less and less needed," he wrote.Scott Tilghman of Soleil Securities agreed. The quarterly results appear much better than closer scrutiny suggests, he said in a research note to investors. He argued that the chain was helped by very short-term product cycle "that will likely play out over the next seven months."Aside from weak customer traffic in malls and strip centers, Tilghman wrote, RadioShack remains handicapped by an "inability to effectively merchandise in many of the categories that remain desired by customers."
Star-Telegram.com – 13 hours, 48 minutes ago ¦ comment?
By BARRY SHLACHTER While Wall Street slumped, shares of RadioShack soared nearly 14 percent Thursday thanks to better-than-expected earnings fueled by higher sales of digital-to-analog TV converter boxes, GPS devices, video games and AT&T wireless phones. Second-quarter income actually fell from the same period last year, to $41.4 million, or 32 cents per share, from $47 million, or 34 cents. Results included a $10 million reversal of an income-tax contingency reserve in 2007 and a one-time $4.3 million charge related to changes in the company’s headquarters lease.Excluding those factors, however, profit rose to 35 cents per share compared with 27 cents last year. Analysts had predicted 26 cents."The economic environment continues to be challenging, however, as a credit to our team, we are pleased with our progress as we begin to drive profitable growth," Chief Executive Julian Day said."We continue our focus on opportunities to offer our customers solutions to their needs," Day said in a statement. "Our improved sales this quarter reflect our success in improving our merchandising, store operations and overall customer experience."Same-store sales, a key indicator, climbed about 6.9 percent, boosting total sales to $994.9 million from $934.8 million. Analysts had expected sales of about $908 million.The end of analog TV transmissions in early 2009 boosted sales of converter boxes, while slipping demand for Sprint phones represented a drag on the retailer’s sales. "But for the Sprint post-paid and related wireless accessory business, comparable store sales in the second quarter would have increased 12.7 percent," the company’s statement said.Company-owned stores had a 7.5 percent increase in sales, dealer/franchise outlets realized a 6.1 percent gain, and RadioShack’s online business jumped 29.8 percent. These increases were partially offset by a 2.7 per- cent decline in the Sprint ki- osk business. There was some improvement at RadioShack’s kiosks in Sam’s Club stores.RadioShack boosted store payrolls to improve customer service and drive profitable same-store sales, it said."We believe sales were also helped a bit by improved labor scheduling in the stores," Scot Ciccarelli, an analyst with RBC Capital Markets, wrote in a research note.Ciccarelli noted that sales of AT&T phone sales significantly improved despite RadioShack not carrying the iPhone."I’m very happy with their numbers," said Bill Baldwin of Dallas-based Baldwin Anthony Securities, whose affiliate holds a position in RadioShack. "It shows management is successful in focusing on top-line growth despite head winds from the economy. The gross margin is a little bit less than I expected but understandable because of the product mix and the tough promotional environment. But then sales were much better than I expected."Gross margins slid slightly more than 1 percentage point, to 47.2 percent, in the past year because of a slowdown in highly profitable post-paid wireless activations."We believe that RadioShack’s convenient store locations helped [it] capitalize on the sale of . . . converter boxes," Morgan Stanley analyst Greg Melich said in a research note. And although Melich expects such sales to continue this quarter, he cautioned that the shift toward lower-margin products and keener competition from Best Buy’s rollout of a mobile store-within-a-store will make RadioShack’s recovery more challenging."Our thesis remains that RadioShack is a decaying business model where the higher-service model in wireless activation is less and less needed," he wrote.Scott Tilghman of Soleil Securities agreed. The quarterly results appear much better than closer scrutiny suggests, he said in a research note to investors. He argued that the chain was helped by very short-term product cycle "that will likely play out over the next seven months."Aside from weak customer traffic in malls and strip centers, Tilghman wrote, RadioShack remains handicapped by an "inability to effectively merchandise in many of the categories that remain desired by customers."
Star-Telegram.com – 13 hours, 48 minutes ago ¦ comment?
Former Students Protest High School Name Change
A Dallas school steeped in tradition is now at the center of a controversy over its name.
cbs11tv.com – 14 hours ago ¦ comment?
A Dallas school steeped in tradition is now at the center of a controversy over its name.
cbs11tv.com – 14 hours ago ¦ comment?
Teen In Tot Pot-Smoking Video Heading To Jail
The Star Telegram reports that one of two Wautaga teenagers convicted of teaching toddlers to smoke marijuana is going to jail.
nbc5i.com – 14 hours, 18 minutes ago ¦ comment?
The Star Telegram reports that one of two Wautaga teenagers convicted of teaching toddlers to smoke marijuana is going to jail.
nbc5i.com – 14 hours, 18 minutes ago ¦ comment?
N. TX Company Transforming Office Spaces Worldwide
A North Texas design firm is helping transform offices around the world and according to them making millions of employees more productive in the process.
cbs11tv.com – 14 hours, 18 minutes ago ¦ comment?
A North Texas design firm is helping transform offices around the world and according to them making millions of employees more productive in the process.
cbs11tv.com – 14 hours, 18 minutes ago ¦ comment?
FW Neighborhood Trying To Shut Down Halfway House
A retired parole officer is reaching out to ex-convicts, giving them a place to live and a place to grow. But many people in East Fort Worth are not happy about having a transitional home in their neighborhood, and they are trying to shut down Obidiah's House.
cbs11tv.com – 14 hours, 20 minutes ago ¦ comment?
A retired parole officer is reaching out to ex-convicts, giving them a place to live and a place to grow. But many people in East Fort Worth are not happy about having a transitional home in their neighborhood, and they are trying to shut down Obidiah's House.
cbs11tv.com – 14 hours, 20 minutes ago ¦ comment?
Police Find 'Recklessness' In McKinney Gas ExplosionInvestigators say contractors didn't follow procedure, resulting in the May blast that critically injured three people.
nbc5i.com – 14 hours, 45 minutes ago ¦ comment?
Fire and Metal Rains On Dallas: 1 Year later
Hickory House BBQ is still there and so is the liquor store. Both survived, after a third business nearly burned them down.
cbs11tv.com – 15 hours, 9 minutes ago ¦ comment?
Hickory House BBQ is still there and so is the liquor store. Both survived, after a third business nearly burned them down.
cbs11tv.com – 15 hours, 9 minutes ago ¦ comment?
YMCA Closes Tarrant County Pools
The YMCA has closed all of its Tarrant County pools after a recent outbreak of Crypto.
nbc5i.com – 15 hours, 43 minutes ago ¦ comment?
The YMCA has closed all of its Tarrant County pools after a recent outbreak of Crypto.
nbc5i.com – 15 hours, 43 minutes ago ¦ comment?
Company To Donate Shoes For Every Pair Sold
A North Texas company is helping impoverished children all over the world, and they're doing it in style.
cbs11tv.com – 15 hours, 54 minutes ago ¦ comment?
A North Texas company is helping impoverished children all over the world, and they're doing it in style.
cbs11tv.com – 15 hours, 54 minutes ago ¦ comment?
