RadioShack sees a 9% rise in profits & plans to expand its Bullseye Mobile kiosks

RadioShack sees a 9% rise in profits & plans to expand its Bullseye Mobile kiosks
RadioShack's mobile business is thriving in this still recovering economy as the long time electronics retailer was able to pull out some profitable sales figures which was mainly driven by the insatiable demand for mobile handsets. Tallying in at a net income of $53 million for the second quarter, or 41 cents per share, the Fort Worth based company recorded an increase in profit by almost 9 percent. Despite seeing a decline in sales for other popular electronic gadgets, they witnessed a 61 percent climb in wireless sales – aided by handset sales from tbeir Sprint, T-Mobile, and AT&T offerings. Since there is a profitable business to be found in wireless, RadioShack is in the process of expanding the roll out of their Bullseye kiosks test pilot starting August 15. So this essentially will bring RadioShack's presence into a handful of Target retail locations around the country by mid-2011 – thus being granted additional traffic to capitalize their mobile business outside of their core stores. We'd imagine that mobile sales will become one huge asset for the company as they are already fielding competition from all sides from both direct and indirect rivals. Nonetheless, their reputation for selling handset with instant discounts as opposed to mail-in-rebates will always be seen by consumers as a plus.

source: Bloomsberg

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