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.