RadioShack loss widens on lower sales of consumer electronics

Reuters News
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Posted: Jun 10, 2014 7:15 AM

(Reuters) - U.S. electronics retailer RadioShack Corp reported a bigger quarterly loss, hurt by higher promotions in its smart phones and tablets business and weak sales of consumer electronics.

The company's net loss widened to $98.3 million, or 97 cents per share, in the first quarter ended May 3 from $28.0 million, or 28 cents per share, a year earlier.

Net sales fell 13 percent to $736.7 million.

(Reporting by Devika Krishna Kumar in Bangalore; Editing by Kirti Pandey)