RadioShack Tumbles as Q2 Sales Miss; Same-Stores Down Four Percent
Shares of RadioShack (RSH) are down $1.12, or seven percent, at $14.94 this morning after the company announced Q2 profit well ahead of estimates, at 39 cents per share versus the consensus 28 cents, but sales that were slightly short of expectations.
Sales fell 2.9 percent, year over year, to $965.7 million, short of the average $979.7 million estimate. Comparable-store sales fell four percent, year over year. The company ended the quarter with cash and equivalents of $931 million, up from $815 million at the end of last year, versus long-term debt of $664.4 million.
