RadioShack Profit Rises 2.8%, Lowest in 2 Years

RadioShack Corp., the No. 3 U.S. electronics chain, said fourth-quarter earnings rose 2.8%, the least in two years, on higher costs.

The company cut its annual profit forecast, sending its shares down 10%.

Net income fell short of analysts’ estimates, increasing to $130.9 million, or 81 cents a share, from $127.3 million, or 77 cents, a year earlier. Sales climbed 7% to $1.59 billion, the Fort Worth-based retailer said.

Shares of RadioShack fell $3.44 to $29.93 on the New York Stock Exchange.