"I can assure that this succession is part of a wellthought out succession plan," Roberts says. "Thetransition is truly seamless because Dave and I haveworked together side-by-side for the past 10 years."He adds: "We're in an enviable position of strength,which makes it a perfect time to transition. There'sno better time for a CEO transition than right now."
The 45-year-old Edmondson joined RadioShack in 1994 asvice president of marketing for the retail divisionand steadily advanced within the company. In his newrole, Edmondson will manage the overall performance ofthe company including leading the company to achieveits long-term goals, build an effective executiveteam, and establish and maintain businessrelationships with key industry partners.
"Yes, our roles are going to be changing but the jobremains the same, and that is execution of ourthree-year strategic growth plan," Edmondson says. "Ihope that everybody realizes that this while this is abig change, it's also a continuation – a reinforcementof our business…"
RadioShack also announced its financial results forthe quarter ended December 31, 2004. The technologyand electronics retailer posted total sales of $1.6billion for the quarter versus total sales of $1.5billion for same period last year, an increase of 7%.Fiscal year total sales were $4.8 billion in 2004versus $4.7 billion in 2003, an increase of 4%.
RadioShack's fourth quarter 2004 comparable storesales grew by 3%, as did its same stores sales forfiscal year 2004.
RadioShack reaffirmed its fiscal year 2004 earningsper share guidance of $2.07 to $2.09. In addition, thecompany reaffirmed its fiscal year 2005 earnings pershare guidance of 19% to 21% above fiscal year 2004.
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