After facing a corporate scandal and losses from its dropping of Verizon Wireless in favor of new partner Cingular, RadioShack is facing even WORSE financial results than ever before. The apparently-forlorn purveyor of cheaply-made, heavily-marked-up electronics has seen it profits dwindle by as much as 85 percent, and executives aren’t happy:
“While we knew first quarter would be weak, the results are worse than we anticipated,” said acting Chief Executive Claire Babrowski. “We clearly have a lot more work to do to get this company back to levels of profitability which we all expect.”
When are these guys going to admit the Cingualr move was a huge mistake?