RadioShack (NYSE: RSH) is a leading national retailer of innovative mobile technology products and services, as well as products related to personal and home technology and power supply needs. RadioShack® offers consumers a targeted assortment of wireless phones and other electronic products and services from leading national brands, exclusive private brands and major wireless carriers, all within a comfortable and convenient shopping environment.
Shares of the RadioShack Corp. climbed the most in more than five years. RadioShack advanced 22 percent to $3.22 at the close in New York, the biggest gain since July 7, 2006.
RadioShack has been seeking a new chief executive officer since September, when James Gooch stepped down and Chief Financial Officer Dorvin Lively took on the additional duties of interim CEO.
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On January 14th, 2013. RadioShack announced that effective April 8, 2013, it will interupt the relationship with Target, where it helps operate Target Mobile in 1,500 Target stores.
Since October 2012, RadioShack had been renegotiating the terms of the relationship with Target to establish an agreement that would be profitable to both companies. At that time, RadioShack executed a termination notice that would allow the company to exit the Target business if an agreement could not be reached.
Telvin Jeffries, RadioShack executive vice president, chief human resources officer, and general manager of retail services, commented:
In order for RadioShack to have continued this relationship, we needed to establish a new agreement that would be financially appealing to both companies. Ultimately, we amicably agreed to dissolve the relationship