Headlines

RadioShack Attack

Retailer warns of a poor 1Q performance

Published

23 years ago

April 7, 2001

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The RadioShack Corp. (Fort Worth, Texas) became the third major retailer in the past few days to portend an earnings shortfall for its current quarter. The consumer electronics chain of more than 7100 stores said its first quarter earnings would be below the same period a year ago, and below as well analysts'forecasts. The company formerly known as Tandy Corp. blamed the shortfall on poor margins on mobile phones, satellite TV and computers. The announcement caused the company's stock to plummet 26 percent to $28.30, a two-year low.

Earlier in the week, high-end specialty retailers Neiman Marcus and Nordstrom had announced that they were suffering through bad quarters.

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