Radioshack sees dip in earnings

QUARTERLY earnings at US electricals retailer Radioshack fell on weakness in its T-Mobile business and higher costs, prompting the firm to cut its profit outlook.

In the first quarter, it earned $35.1m (£21.3m), down from $50.1m a year earlier. Sales rose 2.1 per cent to $1.06bn, missing analysts’ expectations of $1.07bn. RadioShack reduced the top end of its 2011 profit outlook to $1.80 a share from $1.90, while keeping the low end at $1.60.