radioshack corp (RSH) Key Developments
RadioShack Corp. Ratifies the Appointment of PricewaterhouseCoopers LLP as Independent Registered Public Accounting Firm
May 22 13
On May 16, 2013, RADIOSHACK CORP announced at its AGM, shareholders ratified the appointment of PricewaterhouseCoopers, LLP as independent registered public accounting firm for the company’s 2013 fiscal year.
RadioShack Corp. Expands Partnership with Maker Media
May 16 13
RadioShack Corp. announced a major partnership expansion with Maker Media, the creators of MAKE Magazine, Makezine.com, and Maker Faire, to better serve the DIY community. Maker Media and RadioShack will be teaming up to collaborate on an expansive DIY product lineup, exclusively carried at RadioShack and Maker Shed, including kits, robotics and tools. The new cobranded product lineup will be available in-store and online exclusively at RadioShack later this year. In addition, MAKE Magazine will join the MAKE book lineup and will be available in stores this fall. RadioShack has an exciting lineup of additional DIY products that are available now, and with more to come throughout the summer and fall.
RadioShack Corp. Enters into Five-Year Agreement with NACSCORP
May 15 13
RadioShack Corp. announced that it has entered into a five-year agreement with NACSCORP to offer an assortment of consumer electronics and accessories to the nearly 4,000 college store customers NACSCORP currently serves. This expanded retail concept will offer the specific products college students need and want to keep their technology-and their lives-powered up, protected and connected. Students will be able to shop a tailored mix of brand name electronics, such as headphones and accessories from Beats by Dr. Dre, Skullcandy and SOL Republic, as well as a selection of exclusive private brand products, including Enercell portable power and AUVIO headphones and Bluetooth speakers. RadioShack-branded sections will begin appearing in college stores just in time for the back-to-campus rush in the fall of 2013.
RadioShack Faces $5.8 Million Liability in Pennsylvania Overtime Suit
May 10 13
RadioShack Corp. announced that it faces at least $5.8 million in claims for unpaid overtime in a lawsuit filed in Pennsylvania. The company was sued by an ex-manager. He alleged the company failed to pay overtime wages since April 2010.
RadioShack Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2013
Apr 23 13
RadioShack Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company total net sales and operating revenues were $849 million, compared to $913 million last year. Comparable store sales were down 5.7%. Operating loss was $19 million, compared to operating income of $7 million last year. Net loss was $43 million, or $0.43 per basic and diluted share, compared to net loss of $8 million or $0.08 per basic and diluted share, last year. Net loss would have been $35 million, or $0.35 per diluted share, excluding the Target Mobile centers that contributed net loss of $8.5 million to the consolidated net loss. Capital spending totaled $5 million in the first quarter compared to $11 million last year. Loss from continuing operations before income taxes was $33.4 million compared $5.5 million a year ago. Loss from continuing operations was $34.8 million or $0.35 per basic and diluted share, compared $4.7 million or $0.05 per basic and diluted share, a year ago. Net cash provided by operating activities was $16.9 million compared $48.5 million a year ago.