For Wednesday, April 25, 2012
POSTED: 01:30 a.m. HST, Apr 25, 2012
~~<p><strong>Radio Shack loses $8M and stock hits 30-year low</strong></p>
Radio Shack loses $8M and stock hits 30-year low
NEW YORK >> RadioShack lost money in the first quarter as sales dropped, particularly in U.S. stores, and shares in the electronics retailer tumbled to their lowest point in more than 30 years Tuesday. RadioShack lost $8 million, or 8 cents a share, compared with a profit of $35.1 million, or 33 cents a share, a year earlier. The chain’s troubles are symbolic of wider problems in the brick-and-mortar electronics industry. RadioShack and Best Buy Co. have struggled as buying habits increasingly move away from devices like computers and cameras to tablets and smartphones, which are less profitable for the retailer. Circuit City has already failed. Login for more...