By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Fort Worth, Texas – RadioShack lost $43 million during the first quarter, ended March 31.
Sales slipped 7 percent to $849 million and comparable store sales were down 5.7 percent.
The company also reported an operating loss of $19 million, compared to operating income of $7 million last year.
RadioShack attributed $8.5 million of its net loss to its Target mobile center business, which has since been discontinued.
In a statement, recently installed CEO Joseph Magnacca said the company plans to roll out a new brand image, fresh advertising and updated stores, beginning in New York, over the next 100 days.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.