Electronics

RadioShack's First-Quarter Profits Fall

Electronics Chain Sees a 30 Percent Drop

Published

13 years ago

April 25, 2011

VMSD Staff

Electronics chain RadioShack Corp. (Fort Worth, Texas) saw its first-quarter earnings drop 30 percent from higher costs and lower margins for the period ended March 31.

RadioShack blamed its 0.6 percent decline in same-store sales to its T-Mobile postpaid wireless sales. Sales of televisions and related accessories, digital music players and netbooks also declined from the year-ago quarter, according to Dallas News.

The company also lowered the high end of its full-year earnings estimate by 10 cents a share, now projecting to $1.60 to $1.80.

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