RadioShack Tuning Out of Business
The national tech retail story, RadioShack, is "tuning out" of business, announcing that it will close 1,100 of its stores nationwide.
RadioShack (RSH) revealed another quarter of red ink and a 19% tumble in same-store sales on Tuesday, prompting the embattled electronics retailer to shutter up to 1,100 stores.
Wall Street slammed RadioShack’s beaten-down share price in the wake of the big earnings miss, driving it as much as 19% in the red.
The electronics company logged a net loss of $191.4 million, or $1.90 a share, last quarter, compared with a loss of $63.3 million, or 63 cents a share, a year earlier.-Fox
There is no doubt that the failed Obama's economic policies, and the President's ailing economy had much to do with RadioShack multi-million dollar losses over the past several years.
Unfortunately, RadioShack's demise could be the tip of the economic iceberg, as the U.S. economic trainwreck known as Obamacare, steams ahead.