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.”

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  • Jessy

    3 years ago we were telling the managers what was happening and what was going to happen. They did not want to hear it. We needed to get on board with "The Shack" Well now its coming back to bite them in the @$$ and frankly from the way we were treated for the last 2 years it does not bother me at all.