RadioShack posts disappointing results with reported losses

RadioShack posts disappointing results with reported losses

RadioShack has come out with their quarterly reports and the company has posted a quarterly loss. They continue to suffer from falling sales of wireless phones and are struggling to overcome the costs of its turnaround plan.

The company just recently appointed Julian Day as their new CEO. They are also in the process of closing down hundreds of stores and offering more popular, quick-selling merchandise, which would include popular digital music players and flat panel television sets.

RadioShack posted losses of $3.2 million, or 2 cents per share in the most recent quarter. This is very disappointing when compared to figures of income of $52.3 million, or 33 cents per share, a year earlier during the same period.

Goldman Sachs analyst Matthew Fassler spoke about the company in a note to their clients: “We expect any pressure on the stock to abate, given broad expectations of a miss.”