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Radioshack Says May Have to Sell Assets if Results Don't Improve

February 26, 2013

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 said this week that it named Joseph C. Magnacca, formerly of Duane Reade and Walgreens, as its new chief executive officer. 




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