InterTAN's Canadian Operations Report 13% March Sales Increase; Australian Operation Reports Increase of 3%

Apr 05, 2001, 01:00 ET from InterTAN, Inc.

    TORONTO, Apr. 5 /PRNewswire/ -- InterTAN, Inc. (NYSE:   ITN; TSE: ITA), a
 leading international consumer electronics retailer of both private label and
 internationally branded products, today announced that sales in U.S. dollars
 for the month of March were $35.7 million.  Sales at InterTAN's Canadian
 subsidiary, measured in local currency, increased by 13%.  On a comparable
 store basis, Canadian sales increased by 12%.  When last year's sales are
 adjusted to eliminate the effects of the wholesale tax in Australia, which was
 replaced effective July 1 with a goods and services tax, sales, measured in
 local currency, for the Australian subsidiary increased by 3% over the prior
 year.  Computed on the same basis, comparable-store sales increased by 5% in
 the Australian subsidiary.
 
                        Sales Changes - Month of March, 2001*
 
                              Local Currency    U.S. Dollars   Comparable-Store
                                                            (in local currency)
     Canada                              13%              6%           12%
     Australia                            3%           (15)%            5%
     Consolidated                        11%              1%           10%
 
     *Effective July 1, 2000, the wholesale tax in Australia, which was a tax
 on the retailer's cost and passed on to the consumer as part of the selling
 price, was repealed and replaced by a goods and services tax (the "GST").  The
 GST is paid directly by the consumer and is excluded from the retailer's
 selling price.  In the comparisons made herein, sales in Australia for the
 prior year have been adjusted to exclude the effects of the wholesale tax so
 that year on year comparisons are comparable on a like for like basis.
 
     "Our team in Canada posted a great March this year, and I am delighted to
 report on this achievement.  To appreciate just what an accomplishment this
 year's 13% local currency and 12% comparable-store sales increase is, it comes
 on the heels of an 11% comparable-store sales increase last March, which in
 turn was layered on top of a 25% increase in March of the prior year.  The
 compound effect of our team's performance is that March 2001's total sales
 denominated in Canadian Dollars, exceeded March 1998's sales by 57%,"
 commented Brian E. Levy, President and Chief Executive Officer.  "We performed
 well in most major product categories, with sharp double digit gains in home
 office and personal communications devices.  Our wireless business, that is
 cellular/PCS, booked large increases in activations, and we are continuing to
 formulate innovative offerings in the category.  Very importantly, we produced
 a solid double-digit gain in our traditional accessory and battery business.
 For the quarter, our Canadian business, which accounts for approximately 75%
 of InterTAN's consolidated sales, booked a double-digit increase in local
 currency, making it the fourth consecutive year that we have booked a double
 digit increase in the third financial quarter.
     "In Australia, we produced a reasonable sales increase in a challenging
 environment.  Sales performance was lead by continued strong growth in
 wireless activations, as we continue to install new fixtures to further entice
 customers to purchase new wireless devices at our Australian stores.  Computer
 accessories sales and Internet connections were up dramatically, while our
 traditional accessory and battery business posted mid-single digit increases,"
 Levy concluded.
     InterTAN, Inc., headquartered in Toronto, operates through approximately
 1,100 company retail stores and dealer outlets in Canada and Australia under
 the trade names of RadioShack(R) and Tandy(R), respectively.  .
     InterTAN will announce its results for its third fiscal quarter ended
 March 31, 2001 on April 26, 2001.  A conference call, during which senior
 management will discuss the Company's results, the current state of the
 business will be held on that date at 9:00 a.m. EDT.  This call will be
 simultaneously webcast on the Internet at http://www.intertan.com.  The call
 will remain on the website for a one-week period. InterTAN will release its
 April sales results on May 4, 2001.
 
 

SOURCE InterTAN, Inc.
    TORONTO, Apr. 5 /PRNewswire/ -- InterTAN, Inc. (NYSE:   ITN; TSE: ITA), a
 leading international consumer electronics retailer of both private label and
 internationally branded products, today announced that sales in U.S. dollars
 for the month of March were $35.7 million.  Sales at InterTAN's Canadian
 subsidiary, measured in local currency, increased by 13%.  On a comparable
 store basis, Canadian sales increased by 12%.  When last year's sales are
 adjusted to eliminate the effects of the wholesale tax in Australia, which was
 replaced effective July 1 with a goods and services tax, sales, measured in
 local currency, for the Australian subsidiary increased by 3% over the prior
 year.  Computed on the same basis, comparable-store sales increased by 5% in
 the Australian subsidiary.
 
                        Sales Changes - Month of March, 2001*
 
                              Local Currency    U.S. Dollars   Comparable-Store
                                                            (in local currency)
     Canada                              13%              6%           12%
     Australia                            3%           (15)%            5%
     Consolidated                        11%              1%           10%
 
     *Effective July 1, 2000, the wholesale tax in Australia, which was a tax
 on the retailer's cost and passed on to the consumer as part of the selling
 price, was repealed and replaced by a goods and services tax (the "GST").  The
 GST is paid directly by the consumer and is excluded from the retailer's
 selling price.  In the comparisons made herein, sales in Australia for the
 prior year have been adjusted to exclude the effects of the wholesale tax so
 that year on year comparisons are comparable on a like for like basis.
 
     "Our team in Canada posted a great March this year, and I am delighted to
 report on this achievement.  To appreciate just what an accomplishment this
 year's 13% local currency and 12% comparable-store sales increase is, it comes
 on the heels of an 11% comparable-store sales increase last March, which in
 turn was layered on top of a 25% increase in March of the prior year.  The
 compound effect of our team's performance is that March 2001's total sales
 denominated in Canadian Dollars, exceeded March 1998's sales by 57%,"
 commented Brian E. Levy, President and Chief Executive Officer.  "We performed
 well in most major product categories, with sharp double digit gains in home
 office and personal communications devices.  Our wireless business, that is
 cellular/PCS, booked large increases in activations, and we are continuing to
 formulate innovative offerings in the category.  Very importantly, we produced
 a solid double-digit gain in our traditional accessory and battery business.
 For the quarter, our Canadian business, which accounts for approximately 75%
 of InterTAN's consolidated sales, booked a double-digit increase in local
 currency, making it the fourth consecutive year that we have booked a double
 digit increase in the third financial quarter.
     "In Australia, we produced a reasonable sales increase in a challenging
 environment.  Sales performance was lead by continued strong growth in
 wireless activations, as we continue to install new fixtures to further entice
 customers to purchase new wireless devices at our Australian stores.  Computer
 accessories sales and Internet connections were up dramatically, while our
 traditional accessory and battery business posted mid-single digit increases,"
 Levy concluded.
     InterTAN, Inc., headquartered in Toronto, operates through approximately
 1,100 company retail stores and dealer outlets in Canada and Australia under
 the trade names of RadioShack(R) and Tandy(R), respectively.  .
     InterTAN will announce its results for its third fiscal quarter ended
 March 31, 2001 on April 26, 2001.  A conference call, during which senior
 management will discuss the Company's results, the current state of the
 business will be held on that date at 9:00 a.m. EDT.  This call will be
 simultaneously webcast on the Internet at http://www.intertan.com.  The call
 will remain on the website for a one-week period. InterTAN will release its
 April sales results on May 4, 2001.
 
 SOURCE  InterTAN, Inc.