RadioShack Posts $47 Million Loss
RadioShack said Tuesday that it posted a loss of $47 million in the most recent quarter, compared with a $0.3 million profit the same time last year. The company, which recently dismissed CEO Jim Gooch, cited the weak performance of its mobile phone business.
"Overall, our business performed below expectations. I am most disappointed in our post-paid mobility business where we saw a continued decline in margin performance," Dorvin D. Lively, interim chief executive officer, said in a statement.
"However, I am pleased with the progress we are making in improving and driving growth in our high-margin Signature platform, which generated its third consecutive quarter of sales growth and our pre-paid mobility business."