Article Abstract:
Tandy Corp reports a 17 percent decline in profit for the 1st qtr ending Sep 30, 1990. The net income for the period was $52.2 million, or 65 cents a share, as compared with $62.8 million, or 73 cents a share, for the same period in 1989. Sales of microcomputers rose 27 percent to $285 million for the quarter, which contributed largely to a revenue rise of 11 percent to $1.09 billion from $986 million for the same period in 1989. The company blamed the decline in earnings to heavy discounting in its chain of 7,000 Radio Shack stores; the reason the company discounted heavily was to clear out inventories for an expected slow Christmas period in 1990. Some analysts think that Tandy's market share for home microcomputers may suffer since IBM and Apple Computer Inc announced their low-cost microcomputers.
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Article Abstract:
Tandy Corp's 4th qtr 1989 earnings of $56.9 million are almost unchanged from those of the previous year. Revenue rose 10 percent from $813.5 million in 1988 to $897.4 million. The figures fell slightly below analysts estimates. Tandy's Radio Shack stores report a nine percent drop in computer sales and a six percent rise in consumer electronics sales, making a total sales increase of only three percent. Tandy officials remain optimistic that the sluggishness in low-end computer will soon end and plans are underway for a 1990 marketing program emphasizing the user-friendliness of Tandy computers. Tandy net income for 1989 is $323.5 million and total revenue is $4.18 billion.
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Article Abstract:
Tandy Corp is expecting lower earnings for the 2nd qtr ended Dec 30, 1989, below 1988's $135.1 million, or $1.50 a share. Tandy, an electronics retailer and manufacturer, claims soft sales and charges related to patent settlements affected earnings. In addition, the company was plagued with disappointing sales of less-expensive computers, plus consumer-electronics items resulting in sluggish Christmas sales. Analysts predict Tandy's net income will be about $120 million, or $1.45 per share. The stronger part of the computer market is currently in high-end computers, products that Tandy has had trouble marketing.
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