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RadioShack Corporation Becomes Sole Owner of Radio Shack de Mexico
Posted by: gurufocus (IP Logged)
Date: December 16, 2008 08:01AM

Press Release: RadioShack Corporation Becomes Sole Owner of Radio Shack de Mexico RadioShack Corporation is one of the nation's largest and most trusted consumer electronics retailers in the United States and offers both on- and off-line shopping convenience. RadioShack sells more wireless telephones telecommunications products and electronic parts and accessories than any other retailer. It is estimated that 94 percent of Americans live or work within five minutes of a RadioShack store or dealer. (PRESS RELEASE) RadioShack Corp. has a market cap of $1.39 billion; its shares were traded at around $10.92 with a P/E ratio of 6 and P/S ratio of 0.33. The dividend yield of RadioShack Corp. stocks is 2.24%. RadioShack Corp. had an annual average earning growth of 3.6% over the past 10 years. More on RSH: Gurus buys and sells of RSH 10-year financial history of RSH. Insider buys/sells of RSH.

Press Release:

FORT WORTH, Texas, Dec. 16 /PRNewswire-FirstCall/ -- RadioShackCorporation (NYSE: RSH) today announced that it has become the sole owner ofRadio Shack de Mexico, S.A. de C.V. after purchasing the interest in the jointventure held by Grupo Gigante, S.A.B. de C.V. for approximately $43 million incash. Radio Shack de Mexico has approximately 200 RadioShack branded storesthroughout Mexico.

Commenting on the acquisition, Chairman and Chief Executive Officer JulianDay said, "Radio Shack de Mexico represents an attractive growth platform forour company. This is a business we know well through our experience with thejoint venture, and the RadioShack brand has strong equity among consumers inMexico."

RadioShack will operate the stores and related general office, servicecenter and distribution center in Mexico as a wholly-owned subsidiary. Allof the stores and support facilities are leased locations. The stores averageapproximately 1,300 square feet and are primarily located in shopping centers.Radio Shack de Mexico employs approximately 1,200 people.

Forward-Looking Statements

This press release contains or may contain forward-looking statements, asreferenced in the Private Securities Litigation Reform Act of 1995 ("theAct"). These forward-looking statements reflect management's current viewsand projections regarding economic conditions, retail industry environmentsand company performance. Factors that could significantly change resultsinclude, but are not limited to, sales performance, economic conditions,product demand, expense levels, competitive activity, interest rates, changesin the company's financial condition, availability of products and other risksassociated with the company's vendors and service providers, the regulatoryenvironment and factors affecting the retail category in general. Additionalinformation regarding these and other factors is described in the company'sfilings with the SEC, including its most recent Annual Report on Form 10-K,Quarterly Report on Form 10-Q, and its Current Report on Form 8-K filed onOctober 23, 2008.

About RadioShack Corporation

RadioShack Corporation (NYSE: RSH) is one of the nation's most experiencedand trusted consumer electronics specialty retailers. Operating fromconvenient and comfortable neighborhood and mall locations, RadioShack storesdeliver personalized product and service solutions within a few short minutesof where most Americans either live or work. The company has a presencethrough approximately 4,400 company-operated stores, 1,400 dealer outlets inthe United States and nearly 700 wireless phone kiosks. RadioShack's dedicatedforce of knowledgeable and helpful sales associates has been consistentlyrecognized by several independent groups as providing the best customerservice in the consumer electronics and wireless industries. For moreinformation on RadioShack Corporation, or to purchase items online,

Source: PRNewsWire More on RSH: Gurus buys and sells of RSH 10-year financial history of RSH. Insider buys/sells of RSH.

Gurus who own RSH

RSH is in the portfolios of Robert Rodriguez, Robert Olstein, Joel Greenblatt.

Stocks Discussed: RSH, TLF,
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