RadioShack Profit Drops
RadioShack posted a fourth-quarter net income that dropped 25 percent from the same period the year before, a performance that was slightly below analyst expectations, the AP said.
Same-store sales rose 1.3 percent during the quarter.
"Our priority for 2011 is to continue to make operational improvements that enhance our mobility, innovation and service offerings for customers. Despite the disappointing performance of our T-Mobile postpaid business in the fourth quarter, we strongly believe mobility products are the cornerstone of our future. We also remain committed to our plans to improve our non-wireless product platforms and maximize our relationship with Target," CFO Jim Gooch, who will become the company's CEO this spring, said as part of the earnings announcement.