Verizon Wireless sees retail sales dip

[TNDan21]

Verizon Wireless sees retail sales dip


By Reuters
March 12, 2002, 11:15 AM PT


NEW YORK--Verizon Wireless, the wireless telephone giant, has seen sales of its wireless services through reseller partners and retail stores drop from year-ago levels, company executives said Tuesday.
"We're seeing very good in-the-front-door growth. But the reseller and channels are not doing as well," Verizon Communications co-Chief Executive Ivan Seidenberg told investors this week at the Merrill Lynch Global Communications Investor Conference in New York.

Verizon Wireless CEO Denny Strigl on Tuesday echoed those statements, saying sales through retail stores such as Radio Shack have fallen from year-ago levels.



Also, sales through resellers--or companies that buy Verizon Wireless service in bulk and resell it under their own brand name--have been disappointing, Strigl said.

Verizon Wireless is a joint venture of local telephone company Verizon Communications and Britain's Vodafone Group.

Verizon Wireless added fewer-than-expected wireless subscribers in the fourth quarter, and said it does not expect to launch its initial public offering this year.

Story Copyright © 2002 Reuters Limited. All rights reserved.


Verizon Wireless sees retail sales dip