RadioShack Examines Decline
Dallas In the wake of falling sales, executives of RadioShack Corp. are analyzing the business as well as slashing overhead costs.
Executives said Tuesday they blamed 80% of the decline on poor sales of Sprint Nextel Corp. wireless phones, service and accessories. The rest was tied to large flat-screen televisions, they said.
For all of 2007, profit more than tripled to $236.8 million and sales fell 11% to $4.25 billion. But same-store sales dropped 8.2%.
The company also said it would close a distribution center in Columbus, Ohio, during the first half of this year. The company has four other centers that supply goods to its stores and to customers of RadioShack's Web site.