Does RadioShack (RSH) Like Its Investors? (JCP)
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RadioShack (NYSE: RSH) is going for the gold today.
After reporting Q3 GAAP loss of $1.11 per share on sales of $805 million (the Street was looking for a loss of just 36 cents per share on revenue of $893.4 million), RadioShack also affirmed market chatter late Monday that it received commitments for $835 million of a new five-year debt financing.
But, to really drive home the point that RadioShack's strategy might be very, very long term, a new hire was also announced today. The retailer said Paul Rutenis was tapped to become senior vice president, chief merchandising officer. Curiously, Rutenis joins RadioShack from JCPenney (NYSE: JCP), where he served as senior vice president, general merchandising manager for the Home division.
As a reminder, here's JCPenney's performance over the last year:
While the stock drop can't certainly be pinned on one person -- save for former JCPenney CEO Ron Johnson -- RadioShack isn't exactly killing it right now given intense competition from big box retailers and e-commerce giants, which compete well with all of the company's operating segments.
Shares of RadioShack are reflecting some investor sentiment early, down about 4.3 percent.
After reporting Q3 GAAP loss of $1.11 per share on sales of $805 million (the Street was looking for a loss of just 36 cents per share on revenue of $893.4 million), RadioShack also affirmed market chatter late Monday that it received commitments for $835 million of a new five-year debt financing.
But, to really drive home the point that RadioShack's strategy might be very, very long term, a new hire was also announced today. The retailer said Paul Rutenis was tapped to become senior vice president, chief merchandising officer. Curiously, Rutenis joins RadioShack from JCPenney (NYSE: JCP), where he served as senior vice president, general merchandising manager for the Home division.
As a reminder, here's JCPenney's performance over the last year:
While the stock drop can't certainly be pinned on one person -- save for former JCPenney CEO Ron Johnson -- RadioShack isn't exactly killing it right now given intense competition from big box retailers and e-commerce giants, which compete well with all of the company's operating segments.
Shares of RadioShack are reflecting some investor sentiment early, down about 4.3 percent.
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