RadioShack Posts $63 Million Loss

RadioShack posted another bad quarter Tuesday, posting a loss of $63 million on reduced sales.

According to a Reuters report, the chain may need to close stores or sell assets in order to improve liquidity.

“Overall, the fourth quarter continued to be impacted by challenges similar to those of the first three quarters of the year,” CFO Dorvin Lively said in a statement. “The most significant contributing factor to the decline in our performance was the postpaid wireless business which saw a decline in transaction volume across the year, combined with a lower margin rate. However, I am pleased with the progress we have made in improving other aspects of our business.”

Joseph Magnacca was recently named the chain’s new CEO.

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  • Peter Weedfald

    This is easy… we are living in a post internet era of to much retail duplication. Verizon or AT&T should buy Radio Shack, take over their locations and finally offer, like Radio Shack does, basket items beyond the phone to deliver stock holders the various margin pools they need to ensure longterm profiutability. How many of us visit a Verizon or AT&T store ready, willing and able to buy add ons… but there are no add on products or slim in choice. Radio Shack stores, one available withi 5 minutes of every Ameican is prime for a national carrier take over…

  • realist

    Soon to take its place next to : Sword Shack , Wagon Shack, Sundial Shack and yes even Caddyshack