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RadioShack posts 8th straight quarterly loss, may close 1,100 stores

Ultimately, I feel it'll head out of business." Another area the business wants to boost can be offering new, exclusive goods at its stores. He stated http://www.bustywebcam.info the particular advert generated substantial amounts associated with consumer engagement along with had been among one of the most talked-about Super Bowl ads last month. But your timing with the Super Bowl ad might happen to be too late. Like many bricks-and-mortar retailers, RadioShack will be struggling in order to reverse declining foot visitors to its retailers as well as battle competition off their retailers, which includes Amazon.com.. the minute-long spot poked enjoyable at this perception and featured 1980s celebrities -- Erik Estrada associated with CHiPs, horror-movie fictional serial killer Jason Voorhees and Alf your alien -- ransacking any RadioShack outlet in order to "get his or her store back." "The stability sheet is within halfway decent shape ... Your business has a lot much more than 27,000 employees worldwide. Magnacca blamed weak interest in its mobile phones "and a couple of operational issues." Morris Ajzenman, an analyst from Griffen Securities Inc., was pessimistic about RadioShack's future. ricardo.lopez@latimes.com
The Forth Really Worth organization said hello were built with a net loss associated with $191.4 million for your fourth quarter -- greater than triple what it lost per year earlier. "It's a very difficult environment regarding them, to always be able to say the least." Twitter: @rljourno Tuesday's economic outcomes hit the particular retailer's stock hard. The Actual aim is to allow shoppers for you to test out gadgets and interact with sales staff.

RadioShack mentioned the holiday purchasing season produced lower retailer targeted traffic despite aggressive discounting to always be able to entice customers for the chain's more than 5,000 locations. Its fourth-quarter revenue slumped 20% for you to $935.4 million.
RadioShack reported total liquidity of $554.3 million, such as nearly $180 million in cash.



The business failed to provide many details about which retailers could be closed as well as the amount of employees would be affected. Magnacca said in the conference call using analysts Tuesday. Its shares closed Tuesday down 47 cents, or perhaps 17.3%, at $2.25 right after hitting a low associated with $2.19. Magnacca, however, remained optimistic along with said the business plans to update dozens regarding its stores. and provides all of them much more time," he said. "It can end up being a dinosaur.... He stated the particular chain would also address problems having its inventory, which includes any concentrate on maintaining items stocked that it promotes throughout once a week ads.


For now, though, the particular company's relatively strong balance sheet will maintain the organization going, he said. Its monetary results, however, underscored a few of the problems your retailer will be trying to overcome -- one of them a perception the chain, which usually provides been in company greater than 90 years, will be outdated. The advert "was among the actual largest media events inside our company's history," RadioShack Chief Executive Joseph C. This lately announced the partnership with Quirky, the Ny invention company, to stock its goods in RadioShack stores.


Exhibit A: Final month's Super Bowl commercial. Regardless of the closures, the company will nonetheless have more than 4,000 retailers in the U.S. The "RadioShack turnaround will take time," stated Magnacca, who was hired as CEO a bit a lot a lot more than a year ago.


RadioShack posts 8th straight quarterly loss, might close 1,100 shops - latimes.com "RadioShack's occasion has passed," he said

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