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RadioShack sales, profits down on weak mobile category
FORT WORTH, Texas — Comps were down 7% at RadioShack for the fourth quarter, driven by a decline in the mobility and consumer electronics platforms. Total sales and and operating revenue were $1.3 billion, compared with $1.4 billion last year.
The company reported a fourth-quarter net loss of $63 million, or 63 cents per diluted share, compared with net income of $12 million last year.
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RadioShack swings to loss in Q4
Fort Worth, Texas -- RadioShack Corp. reported a greater-than-expected net loss of $63.3 million in the fourth quarter ended Dec. 31, compared with a profit of $11.9 million a year earlier.
Total sales edged down to $1.3 billion compared to $1.39 billion last year. Comparable-store sales fell 7%, hurt by a decline in the performance of its postpaid wireless business.