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RadioShack profit down 30% on costs
Fort Worth, Texas -- RadioShack Corp.'s first-quarter earnings fell 30% amid higher costs and lower margins. The company also lowered the high end of its full-year earnings estimate.
RadioShack reported net income of $35.1 million, down from $50.1 million a year earlier.
Revenue for the three months ended March 31 rose 2% to $1.06 billion, boosted by 11% growth in mobile devices. -
Tesco annual profit up, losses continue at Fresh & Easy
New York City -- Tesco PLC said Tuesday that its profit rose 14% to $4.3 billion in its most recent fiscal year ending Feb.26, while annual group sales increased 8% to almost $106 billion. However, losses continued to mount at its U.S. division, Fresh & Easy Neighborhood Market, which lost about $302.6 million. The division, which opened its first stores in 2007, now has 172 locations. It has yet to post a profit.
Tesco remains committed to Fresh & Easy, and said it is ramping up expansion, with about 50 stores on tap for this year.