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BUSINESS
January 10, 2002 | Bloomberg News
Blockbuster Inc. agreed to end plans to put RadioShack Corp. stores within its video shops after a six-month trial in 130 locations didn't generate enough sales. RadioShack, which staffed the departments and paid occupancy fees to Blockbuster, offered too many products that didn't appeal to customers picking up or dropping off movie rentals, a Blockbuster spokeswoman said. Blockbuster, a division of Viacom Inc.
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BUSINESS
March 4, 2014 | By Ricardo Lopez
Beleaguered electronics retailer RadioShack Corp. reported its fourth-quarter store sales were down 19% compared to last year and that it would close up to 1,100 underperforming stores, the Fort Worth company said Tuesday. " Our fourth-quarter financial results were driven by a holiday season characterized by lower store traffic, intense promotional activity particularly in consumer electronics, a very soft mobility marketplace and a few operational issues," RadioShack chief executive  Joseph C. Magnacca said.  The company's fourth-quarter revenue was down 20%, slumping to $935.4 million compared to nearly $1.2 billion during the same period last year, RadioShack reported.  It also reported a net loss of $191.4 million for the fourth-quarter, its eighth consecutive quarterly loss.
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BUSINESS
July 8, 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.
BUSINESS
March 4, 2014 | By Ricardo Lopez
RadioShack Corp., the struggling electronics retailer, on Tuesday said it might close 1,100 stores - about a fifth of all its outlets - after it reported its eighth straight quarterly loss. The Forth Worth company said it had a net loss of $191.4 million for the fourth quarter - more than triple what it lost a year earlier. Its fourth-quarter revenue slumped 20% to $935.4 million. Like many bricks-and-mortar retailers, RadioShack is struggling to reverse declining foot traffic to its stores and fend off competition from other retailers, including Amazon.com.
BUSINESS
May 30, 2001 | Bloomberg News
RadioShack Corp. said fiscal second-quarter profit will fall more than expected because of slower sales of wireless telephones and computers in April and May. The company forecast profit of 25 cents to 27 cents a share for the quarter ending June 30, less than the 34-cent average estimate of analysts polled by First Call/Thomson Financial. RadioShack earned $75.4 million, or 38 cents, in the year-earlier quarter. RadioShack also said earnings for full year 2001 may decline by 10%.
BUSINESS
July 7, 2001 | Associated Press
RadioShack Corp. said it has agreed to buy Microsoft Corp.'s 25% stake in the consumer electronics chain's Internet venture, RadioShack.com, for $88 million in cash. With the purchase, Fort Worth-based RadioShack ended a relationship that began in November 1999, and it becomes the sole owner of its Internet venture. Separately, RadioShack said sales from its retail division increased 8% to $356.6 million in June. Sales at company-owned outlets open at least a year rose 4%.
BUSINESS
December 20, 2001 | Bloomberg News
RadioShack Corp. will close 35 unprofitable stores, sell its headquarters and quit selling car stereos and security systems to focus on higher-profit goods to boost earnings by at least 13% annually. The No.3 U.S. electronics chain also said it will exit its money-losing commercial installation business and focus instead on installing electronics for residential customers. RadioShack shares, which have lost 30% of their value this year, rose 47 cents to close at $30.36 on the NYSE.
BUSINESS
August 22, 2002 | Reuters
RadioShack Corp. said slow August sales would batter its third-quarter earnings, sending its stock down more than 16% and underscoring weakness in the U.S. consumer electronics industry. RadioShack, the No. 3 U.S. consumer electronics chain, said it now sees third-quarter total sales down as much as 3% to 4%, contrasted with previous estimates for growth of 2% to 3%.
BUSINESS
February 15, 2006 | From Associated Press
Directors of RadioShack Corp. said they stood behind the retailer's chief executive despite a published report that he didn't earn two college degrees listed on his resume. A biography of David J. Edmondson given to reporters and posted on the company's website said that he earned degrees in theology and psychology from Pacific Coast Baptist College in California.
BUSINESS
February 17, 2006 | From Reuters
The board of RadioShack Corp. said it had hired a lawyer to investigate admissions by Chief Executive David Edmondson that he had lied about his academic record. The company's statement, released late Wednesday -- along with newspaper reports that Edmondson had been involved in several alcohol-related driving incidents -- left analysts and legal experts wondering whether he could survive in his position.
BUSINESS
September 27, 2012 | By Tiffany Hsu, Los Angeles Times
Another CEO of an electronics retailer is out of a job. RadioShack Corp. said its chief executive, James F. Gooch, was stepping down. The troubled company issued a statement Wednesday saying that Gooch's departure was effective immediately and that an executive search firm had been engaged to find his replacement. Gooch, who had previously been chief financial officer of RadioShack, held the CEO post for less than a year and a half. The strip mall staple's stock tanked more than 80% during his tenure as CEO. In the second quarter, the Fort Worth company suffered a net loss of $21 million, compared with a profit of $24.9 million in the same period a year earlier.
BUSINESS
August 11, 2009 | DAN NEIL
One of my many undistinguished postings was a summer job as an assistant manager of a Radio Shack (then spelled as two words) in a strip mall in Rock Springs, Wyo. Dante couldn't think of a better description of hell. This was in 1982, and Radio Shack was actually a pretty happening electronics retailer, selling cordless phones, turntables, circuit boards, resistors and a magical something called a TRS-80 Color Computer, with which one could glimpse the future's horizons in a game called Starfire.
BUSINESS
July 8, 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.
BUSINESS
February 18, 2006 | From Associated Press
Electronics retailer RadioShack Corp. said fourth-quarter earnings dropped 62%, and it announced plans to close 400 to 700 stores and two distribution centers as part of a plan to improve its financial performance. Its shares tumbled 8%. The Fort Worth-based company said it could not project the exact number of job cuts until it identified all affected stores. RadioShack said stores it planned to close were company-operated.
BUSINESS
February 17, 2006 | From Reuters
The board of RadioShack Corp. said it had hired a lawyer to investigate admissions by Chief Executive David Edmondson that he had lied about his academic record. The company's statement, released late Wednesday -- along with newspaper reports that Edmondson had been involved in several alcohol-related driving incidents -- left analysts and legal experts wondering whether he could survive in his position.
BUSINESS
February 15, 2006 | From Associated Press
Directors of RadioShack Corp. said they stood behind the retailer's chief executive despite a published report that he didn't earn two college degrees listed on his resume. A biography of David J. Edmondson given to reporters and posted on the company's website said that he earned degrees in theology and psychology from Pacific Coast Baptist College in California.
BUSINESS
September 28, 2000 | From Blooomberg News
Microsoft Corp., the third-largest provider of Internet access, said Wednesday that it will begin selling a high-speed online service at RadioShack Corp.'s stores. The MSN HighSpeed service will be available on telephone lines from NorthPoint Communications Group Inc. and by satellite from a unit of Gilat Satellite Networks Ltd. beginning in November. The cost will be $39.95 a month for a phone-line connection and $59.95 for a satellite link. Microsoft is pursuing America Online Inc.
BUSINESS
August 22, 2002 | Reuters
RadioShack Corp. said slow August sales would batter its third-quarter earnings, sending its stock down more than 16% and underscoring weakness in the U.S. consumer electronics industry. RadioShack, the No. 3 U.S. consumer electronics chain, said it now sees third-quarter total sales down as much as 3% to 4%, contrasted with previous estimates for growth of 2% to 3%.
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