RadioShack Q1 Profit Drops 30%

RadioShack, a consumer electronics specialty retailer has reported that its first-quarter profit dropped 30%.

RadioShack reported a first-quarter profit of $35.1 million, or 33 cents a share, compared with a profit of $50.1 million, or 39 cents a share, last year.

The company, which is expanding its focus to mobile business and rolling out an expanded lineup of tablet computers amid declining demand for traditional electronics, also cut the top end of its full-year forecast and said it doesn’t expect trends to improve until the second half.

RadioShack said that it had broadened its selections of tablets as part of its strategy to supply customers with all their “mobility” needs. In addition to Apple’s iPad , which it’s been selling in 500 stores since March 29, it now stocks the 7-inch Blackberry Playbook, Motorola Xoom and the Android-powered 7-inch Velocity Micro T103 Cruz.


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