RadioShack Corp. (RSH) Posts Q4 adj.-Loss of $1.29/Share; To Close 1,100 Stores
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RadioShack Corp. (NYSE: RSH) reported Q4 EPS of ($1.29), $1.15 worse than the analyst estimate of ($0.14). Revenue for the quarter came in at $935.4 million versus the consensus estimate of $1.12 billion.
Comparable store sales were down 19% driven by traffic declines and soft performance in the mobility business.
The company plans to close up to 1,100 underperforming stores in the U.S.
NEW FINANCIAL CALENDAR
As previously announced, the Company has aligned its fiscal yearend to a traditional 52-week retail calendar, with the fiscal year ending on the Saturday closest to January 31st. This is the format used by the majority of retailers today. Changing the Company's yearend will benefit the investment community as it will allow for easier comparability between the Company and its peers. It will also allow the management team to more efficiently track and measure the Company's performance during the year.
As a result of this change, the Company will have a stub period between January 1, 2014, and February 1, 2014, that will be identified as Fiscal Year 2014 which will be reported separately in the Form 10-Q for the first quarter of Fiscal 2015. Fiscal Year 2015 will run from February 2, 2014, through January 31, 2015.
For earnings history and earnings-related data on RadioShack Corp. (RSH) click here.
Comparable store sales were down 19% driven by traffic declines and soft performance in the mobility business.
The company plans to close up to 1,100 underperforming stores in the U.S.
NEW FINANCIAL CALENDAR
As previously announced, the Company has aligned its fiscal yearend to a traditional 52-week retail calendar, with the fiscal year ending on the Saturday closest to January 31st. This is the format used by the majority of retailers today. Changing the Company's yearend will benefit the investment community as it will allow for easier comparability between the Company and its peers. It will also allow the management team to more efficiently track and measure the Company's performance during the year.
As a result of this change, the Company will have a stub period between January 1, 2014, and February 1, 2014, that will be identified as Fiscal Year 2014 which will be reported separately in the Form 10-Q for the first quarter of Fiscal 2015. Fiscal Year 2015 will run from February 2, 2014, through January 31, 2015.
For earnings history and earnings-related data on RadioShack Corp. (RSH) click here.
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