RadioShack Posts $43.3 Million Loss
RadioShack Tuesday posted a quarterly loss of $43.3 million, compared to an $8 million loss the same quarter last year. The loss, which came in the first quarter presided over by new CEO Joseph C. Magnacca.
In a statement, Magnacca said the company is planning a new branding strategy, and will also remodel some New York locations.
"I have also studied the existing retail format and store experience and believe there is a significant opportunity to refresh and improve how we present the brand, how we deliver on our brand promise, and how our customer experiences shopping with us. I know we have some gaps and improvements that need to take place," Magnacca said in a statement.