RadioShack Is Tanking
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RadioShack shares are off more than 8% pre-market after the electronics retailer reported much wider losses than expected.
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The firm posted a net loss of $98.3 million, or $0.97 a share. Analysts were looking for a loss $28 million, or $0.28 a share.
Sales fell 13% YOY to $736.7 million.
"Overall, our first quarter performance was challenged by an industry-wide decline in consumer electronics and a soft mobility market which impacted traffic trends throughout the quarter," Chief Executive Joseph Magnacca said in a statement.
Shares were trading at around $1.44.
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