Electronics retailer RadioShack Corp reported lower fourth-quarter sales and said it may have to close stores or sell assets to improve liquidity if business does not pick up by 2014, sending its shares down 6 percent before the bell.
The results underlined the tough task facing new Chief Executive Joseph Magnacca in trying to transform the struggling electronics chain into a specialist retailer of mobile devices.
Despite its ubiquitous presence in the United States, analysts say RadioShack has not done enough to rebrand itself as a destination for mobile phones
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RadioShack Names Magnacca CEO
February 7, 2013
From News
RadioShack said this week that it named Joseph C. Magnacca, formerly of Duane Reade and Walgreens, as its new chief executive officer.
