David Edmondson Quotes on Sales (3 Quotes)

Sales results were good in many low-margin non-wireless categories however, we experienced lower sales in high-margin categories. In addition, wireless sales and profits were below our expectations. The poor fourth quarter performance caused us to take a much deeper look at the state of our business and resulted in the launch of a turnaround plan including the significant fourth quarter inventory write-down.

We drove strong sales in satellite radio, MP3 players, and digital imaging three of the categories on which we focused our resources the most during the holiday season. Sales results were higher in these low-margin non-wireless categories however, we also experienced lower sales in high-margin categories.

The most profitable categories of the business saw a sales decline in the fourth quarter. We saw very significant low-margin category growth, but frankly the dollars were simply not large enough in terms of gross profit dollars to offset the other things that were happening in the business.