RadioShack reports falling profits

RadioShack reports falling profits

Consumer electronics retailer RadioShack has released their latest quarterly report and the company has posted a lower first-quarter profit.

The company suffered from falling sales. They also suffered due to increased spending on promotions.

RadioShack has also been closing stores to restructure their business. The sales still remain weak leading to dropping profits.

The company reported earnings of $38.8 million which is down 9% compared to same period last year.

The sales were down 4.4 percent to $949 million.