RadioShack Profit Drops 30 Percent

RadioShack's profit dropped 30 percent to $35 billion, which the company attributed to stiff competition as well as a contract dispute with T-Mobile. The company's mobility business did grow by 11 percent, the company said. "Despite a challenging economy and tough weather conditions, our first-quarter results were generally in line with our internal expectations," the company's president and CEO-designate, Jim Gooch, said as part of the announcement. "We expect the softness in our business to continue during the second quarter before we begin to see the benefits of our merchandising and sales initiatives improving both revenue and income trends in the back half of the year. In addition, growth in our mobility business will be aided by our tablet computer offerings, which are being introduced this month."

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

WaterCop + Z-Wave Technology = Complete water control

WaterCop + Z-Wave Technology = Complete water control

The WaterCop family of products continues to grow! We now offer Z-wave technology that allows remote control of a home's main water supply via phone or internet. It's perfect for people who want peace of mind that they can shut off water in homes from nearly anywhere using Z-wave protocol. Z-wave joins systems WaterCop Pro, LeakStop, WaterCop Classic, Outdoor, and Large Valve (1 ½"-4") Integration. Visit www.watercop.com to learn more.