Is RadioShack the Next Circuit City?
Following a disappointing holiday season, expectations were low ahead of RadioShack's fourth-quarter report. But the results were a shock, raising concerns about its chances for survival in today's marketplace. RadioShack's Chief Executive Joseph Magnacca, along with the company's new CFO John Feray, sought to reassure investors. Feray, who joined in January, said on a call that RadioShack, which plans to shut up to 1,100 stores, isn't considering "prepackaged bankruptcy" to get out of store leases quickly. He added RadioShack has "sufficient liquidity to meet its obligations" this year.