RadioShack Earnings Fall 99 Percent
RadioShack's earnings took a huge dive in the third quarter, as profit dropped 99 percent from $46 million last year to $300,000.
The company attributed the drop largely to its recent transition from carrying T-Mobile to Verizon Wireless.
"The third quarter continued to be a transition period for RadioShack as we prepared for the mid-September launch of Verizon Wireless and phaseout of T-Mobile products and services in our company-owned stores," CEO Jim Gooch said as part of the announcement. "At the same time, we continued our focus on improving our core business and introducing a more compelling assortment of brands and products to bolster our leadership in the wireless space."