B. Riley Slashes Target on RadioShack (RSH) to $0; Sees Odds of Bankruptcy at Over 50%
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Fitch Sees RadioShack (RSH) with Limited Options to Stem Liquidity Issue; May Downgrade Further
June 11, 2014 9:30 AM EDTRadioShack's (NYSE: RSH) weak first quarter results underscore the material challenges in its core business segments with few options left to stem the declines given a tightening liquidity situation, according to Fitch Ratings.
Sales for the first quarter fell 13% to $736.7 million, reflecting significant pressure within its mobility platform, which was down 19%, and its retail platform (consumer electronics and other items) which was down 9.4%. At the same time, the gross margin was down 370 basis points due to the promotional nature of the mobility market. These results were below Fitch's expectations.
EBITDA at negative... More
RadioShack Corp. (RSH) Posts Q1 Loss of 97c/Share; Comps Fell 14%
June 10, 2014 7:03 AM EDTRadioShack Corp. (NYSE: RSH) reported Q1 EPS of ($0.97), which may not compare with the analyst estimate of ($0.51). Revenue for the quarter came in at $736.7 million versus the consensus estimate of $764.31 million.
On an adjusted basis, loss from continuing operations was $99.3 million, which compares to an adjusted loss from continuing operations of $26.5 million last year.
Comparable store sales were down 14% driven by traffic declines and soft performance in the mobility business.
Joseph C. Magnacca, chief... More
