Content about RadioShack Corp.

May 10, 2013

A former store manager is suing RadioShack Corp. with claims the chain has been failing to pay overtime wages for the past three years.

Fort Worth -- A former store manager is suing RadioShack Corp. with claims the chain has been failing to pay overtime wages for the past three years. Bloomberg reports that David Verderame filed suit in Philadelphia seeking at least $5.8 million in unpaid overtime wages for all Pennsylvania RadioShack employees. On Thursday, RadioShack had the suit moved to U.S. District Court due to the size of the alleged damages.

April 23, 2013
RadioShack Corp. on Tuesday reported a bigger-than-expected first quarter loss on weak sales of wireless phone contracts.

Fort Worth, Texas -- RadioShack Corp. on Tuesday reported a bigger-than-expected first quarter loss on weak sales of wireless phone contracts. The company also reported that it is updating its brand and will begin remodeling select locations with a new look and feel over the next few weeks.

Joseph C. Magnacca, a former Walgreens executive who became CEO of RadioShack in February, remarked on the initial priorities and initiatives underway. Last week, he named a new chief marketing officer and a new SVP store concepts.

April 18, 2013

RadioShack Corp. formally announced that it has named two new leaders to its senior management team.

Fort Worth, Texas -- RadioShack Corp. formally announced that it has named two new leaders to its senior management team. Michael DeFazio has been named SVP – store concepts, and Jennifer Warren has been named SVP and chief marketing officer.

February 26, 2013

RadioShack Corp. reported a greater-than-expected net loss of $63.3 million in the fourth quarter ended Dec. 31, compared with a profit of $11.9 million a year earlier.

Fort Worth, Texas -- RadioShack Corp. reported a greater-than-expected net loss of $63.3 million in the fourth quarter ended Dec. 31, compared with a profit of $11.9 million a year earlier.

Total sales edged down to $1.3 billion compared to $1.39 billion last year. Comparable-store sales fell 7%, hurt by a decline in the performance of its postpaid wireless business.
 

January 14, 2013

RadioShack Corp. announced that it is ending its relationship with Target, where it helps operate Target Mobile in 1,500 Target stores, effective April 8.

Fort Worth, Texas -- RadioShack Corp. announced that it is ending its relationship with Target, where it helps operate Target Mobile in 1,500 Target stores, effective April 8.

The RadioShack and Target partnership provided RadioShack access to manage Target's post-paid mobility business. But RadioShack did not manage the prepaid mobility business or the wider range of accessories offered in Target stores.

October 23, 2012

RadioShack Corp. reported a wider-than-expected loss of $47 million for the quarter ended Sept. 30, compared with a profit of $300,000 for the same period last year.

Fort Worth, Texas -- RadioShack Corp. reported Tuesday a wider-than-expected loss of $47 million for the quarter ended Sept. 30, compared with a profit of $300,000 for the same period last year. Sales dropped from $1.03 billion to $1.0 billion and same-store sales dropped 1.6%.

September 26, 2012

RadioShack Corp. said CEO James Gooch has agreed to step down from his position, effective immediately.

Fort Worth, Texas -- RadioShack Corp. said CEO James Gooch has agreed to step down from his position, effective immediately. The company did not specify a reason for his departure. Gooch was appointed CEO in 2011 and has been working to boost stagnant sales.

RadioShack said its board is conducting a search for a successor and would not rule out internal candidates. In the interim, executive VP and CFO Dorvin Lively will serve as the acting CEO.

September 6, 2012

IBM announced at its Smarter Commerce Global Summit that RadioShack Corp. is working with IBM's cloud-based solutions to improve price image and pricing operations over the entire pricing lifecycle.

Orlando, Fla. -- IBM announced Thursday at its Smarter Commerce Global Summit that RadioShack Corp. is working with IBM's cloud-based solutions to improve price image and pricing operations over the entire pricing lifecycle.

The solutions being used by RadioShack are part of IBM's cloud-based merchandising analytics software and services, which help companies define the optimal price points and product mix based on customer buying trends.

July 25, 2012

RadioShack Corp. reported its worst quarter since 1996, posting a loss of $21 million in the second quarter compared with a profit of $24.9 million in the same quarter last year.

Fort Worth, Texas -- RadioShack Corp. reported Wednesday its worst quarter since 1996, posting a loss of $21 million in the second quarter compared with a profit of $24.9 million in the same quarter last year.

Sales inched up 1.2% to $953.2 million in the quarter, missing Wall Street’s forecasted $970.4 million in revenue, and same-store sales were flat.

April 24, 2012

RadioShack Corp. reported a loss for the first quarter of $8 million, hurt by weakness in its Sprint postpaid wireless business and weak demand for prepaid wireless handsets, laptops and home entertainment accessories.

New York -- RadioShack Corp. on Tuesday reported a loss for the first quarter of $8 million, hurt by weakness in its Sprint postpaid wireless business and weak demand for prepaid wireless handsets, laptops and home entertainment accessories.

The electronics retailer said its net loss for the quarter ended March 31, 2012, was $8 million compared with net income of $35.1 million a year earlier.

Sales fell 0.9% to $1.01 billion, while analysts had expected $1.06 billion.

April 6, 2012

RadioShack Corp. said it has selected Grey New York as its lead advertising agency of record, concluding a review process that first launched last November.

Fort Worth, Texas -- RadioShack Corp. said Thursday it has selected Grey New York as its lead advertising agency of record, concluding a review process that first launched last November.

"We're thrilled for the opportunity to collaborate with this team as we continue transforming our brand, with a sharp focus on building consumer awareness of our wireless offering and driving traffic into our stores," said Jim Gooch, president and CEO of RadioShack Corp.

March 22, 2012

RadioShack Corp. said it has made an agreement with Malaysian retail group Berjaya Retail Berhad that will expand RadioShack's global footprint across 10 Southeast Asian countries.

Fort Worth, Texas -- RadioShack Corp. said Thursday it has made an agreement with Malaysian retail group Berjaya Retail Berhad that will expand RadioShack's global footprint across 10 Southeast Asian countries.

Under the long-term agreement, Berjaya Retail (Cayman) Limited as franchise developer is expected to open at least 1,000 franchise locations across the Association of Southeast Asia Nations within the first 10 years. Its subsidiary in Malaysia, Berjaya RS Sdn. Bhd., expects to open its first RadioShack locations later this year in Kuala Lumpur.

February 23, 2012

RadioShack Corp. said it has named William "Bill" Nebes III as senior VP, overseeing the company's operations in Mexico.

Fort Worth, Texas -- RadioShack Corp. said Thursday that it has named William "Bill" Nebes III as senior VP, overseeing the company's operations in Mexico.

Nebes will report to Jim Gooch, president and CEO.

Nebes has served as VP of Mexico operations for RadioShack since February 2009, shortly after RadioShack acquired full ownership of the Mexico business in December 2008.

February 21, 2012

RadioShack Corp. reported a steep decline in fourth quarter profit this morning. Its results, however, were in line with its January warning to investors.

Fort Worth, Texas -- RadioShack Corp. reported a steep decline in fourth quarter profit this morning. Its results, however, were in line with its January warning to investors.

The chain posted a profit of $11.9 million, compared to a profit of $57 million in the prior year. Total fourth-quarter sales rose 5.9% to $1.39 billion. Same-store sales fell 1.4%. 
 

November 30, 2011

RadioShack Corp. has initiated a formal review of its creative agency of record for the U.S. general market.

Fort Worth, Texas -- RadioShack Corp. has initiated a formal review of its creative agency of record for the U.S. general market. RadioShack reported total advertising expenses of approximately $206 million for the fiscal year ended Dec. 31, 2010.

To help navigate the review process, RadioShack has retained the services of Select Resources International (SRI), an agency-review consulting firm based in Santa Monica, Calif.

November 16, 2011

OfficeMax Inc. announced a strategic pilot with RadioShack Corp. whereby OfficeMax will pilot the RadioShack Mobile offering in the San Francisco market beginning in January 2012.

Naperville, Ill. -- OfficeMax Inc. announced a strategic pilot with RadioShack Corp. whereby OfficeMax will pilot the RadioShack Mobile offering in the San Francisco market beginning in January 2012.

As part of this pilot program, RadioShack employees will offer mobile products and services, including prepaid and postpaid wireless products, accessories and service plans, as well as assist in selling OfficeMax consumer electronics products and services, in approximately 15-20 OfficeMax stores.

October 26, 2011

RadioShack Corp. reported Tuesday that profit for the quarter ended Sept. 30 plummeted to $300,000, compared with earnings of $46 million in the year-ago period.

Fort Worth, Texas -- RadioShack Corp. reported Tuesday that profit for the quarter ended Sept. 30 plummeted to $300,000, compared with earnings of $46 million in the year-ago period. The retailer cited the transition from T-Mobile offerings to Verizon Wireless as a major reason for the performance decline, although that was offset somewhat by new mobile service and sales centers in Target stores. The company launched Verizon Wireless in more than 4,400 stores on Sept. 15, as well as ramped up its Target Mobile centers rollout in the same period.

October 25, 2011

RadioShack Corp. announced Tuesday a 100% increase in its dividend and the authorization of a $200 million share repurchase program as part of a new capital allocation strategy.

Fort Worth, Texas -- RadioShack Corp. announced Tuesday a 100% increase in its dividend and the authorization of a $200 million share repurchase program as part of a new capital allocation strategy.

The strategy, according to the company, is designed to balance business growth opportunities with continued strong cash flow and provide a more consistent return of excess cash to long-term shareholders.

August 16, 2011

RadioShack Corp. said Monday it has appointed Dorvin D. Lively as executive VP, CFO and chief administrative officer, effective immediately.

Fort Worth, Texas -- RadioShack Corp. said Monday it has appointed Dorvin D. Lively as executive VP, CFO and chief administrative officer, effective immediately.

Lively joins RadioShack from Ace Hardware Corp., where he was most recently executive VP and CFO.
 

July 26, 2011

RadioShack Corp. reported Tuesday that net income for the second quarter dropped to $24.9 million from $53 million in the year-ago period.

Dallas -- RadioShack Corp. reported Tuesday that net income for the second quarter dropped to $24.9 million from $53 million in the year-ago period. Sales decreased to $941.9 million, compared with $962.3 million a year earlier. Wall Street expected sales of $1.03 billion.

However, analysts responded positively to RadioShack’s news that it had signed a deal with Verizon Wireless to sell its postpaid and prepaid wireless products and services beginning Sept. 15, supplanting its current program with T-Mobile.

April 26, 2011

RadioShack Corp. said Monday that it plans to sell $300 million in debt that will come due in 2019.

Dallas -- RadioShack Corp. said Monday that it plans to sell $300 million in debt that will come due in 2019.

The retailer said it plans to use the proceeds from the sale of the senior notes for general corporate purposes, which may include stock buybacks.

April 25, 2011

RadioShack Corp.'s first-quarter earnings fell 30% amid higher costs and lower margins.

Fort Worth, Texas -- RadioShack Corp.'s first-quarter earnings fell 30% amid higher costs and lower margins. The company also lowered the high end of its full-year earnings estimate.

RadioShack reported net income of $35.1 million, down from $50.1 million a year earlier.

Revenue for the three months ended March 31 rose 2% to $1.06 billion, boosted by 11%  growth in mobile devices.

April 13, 2011

RadioShack has improved its hiring decisions chainwide with the use of a behavioral assessment solution. The Web-based solution is designed not only to make the overall hiring process more efficient, but also to improve performance and reduce turnover by helping to identify the candidate who is the best fit for a given position and is thus more likely to perform better on the job. 


February 24, 2011

Dallas -- Talent software firm PeopleAnswers said Thursday that RadioShack Corp. will utilize the PeopleAnswers talent assessment software for all positions in nearly 5,800 company-operated stores and kiosks as well as corporate offices across the United States and Puerto Rico.

According to the company, RadioShack will use PeopleAnswers to prescreen, assess and hire job candidates for all positions including sales associates, store and district managers and corporate positions. With RadioShack attracting approximately one million job candidates per year, the web-based tool has the scale to evaluate candidates as needed, 24/7, integrate with job boards and track candidates’ progress through the application and hiring process, said PeopleAnswers.

“RadioShack is focused on strengthening our brand and growing our business. People make the difference in executing our growth strategy,” said Mary Ann Doran, senior VP human resources, RadioShack.

RadioShack has been using PeopleAnswers for approximately 18 months as a tool to help select and hire district managers nationwide. For the last year, the company has used PeopleAnswers to hire its store managers and sales associates.

Dallas -- Talent software firm PeopleAnswers said Thursday that RadioShack Corp. will utilize the PeopleAnswers talent assessment software for all positions in nearly 5,800 company-operated stores and kiosks as well as corporate offices across the United States and Puerto Rico.

February 23, 2011

RadioShack Corp. on Tuesday said its fourth-quarter net income fell by 25%, which was toward the low end of the company's already reduced guidance.

Fort Worth, Texas -- RadioShack Corp. on Tuesday said its fourth-quarter net income fell by 25%, which was toward the low end of the company's already reduced guidance.

The company reported net income of $57 million in the October to December period, down from $75.7 million a year ago.