Daily News: June 13, 2014

Bloomberg: RadioShack’s Comeback Attempt Runs Into Electronics Slump

Bloomberg reported that RadioShack’s attempted comeback best case scenario would have been tough, but it is now competing with a slump across the electronics industry due to depleting demand that is hurting healthier rivals.

Bloomberg said that the decline may deprive RadioShack CEO Joe Magnacca “of the time he needs to cut costs and develop new merchandise, while making it harder to generate cash and pay back creditors.”

B. Riley & Co analyst Scott Tilghman was quoted as saying: “There hasn’t been a lot of innovation over the last few quarters, there hasn’t been a lot of new product coming to market.”

To read the entire Bloomberg article, click here.

Previously on abfjournal: RadioShack Withdraws Plan to Close 1,100 Stores, May 9, 2014