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RadioShack Names Kmart Veteran CEO

IN BRIEF/ELECTRONICS

July 08, 2006|From the Associated Press

RadioShack Corp. named Julian Day chief executive in the hope that the man who pulled Kmart out of bankruptcy proceedings can revive the struggling electronics retailer, which is being squeezed by Best Buy Co. and Circuit City Stores Inc.

"He will have his work cut out for him," said Ulysses Yannas, a broker with Buckman, Buckman & Reid who has tracked the retail industry for nearly 30 years.

Shares of Fort Worth-based RadioShack rose $3.20, or 23%, to $16.96.

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