RadioShack Q2 Loss Widens; Names Holly Etlin Interim CFO - Quick Facts

(RTTNews) - RadioShack Corp. (RSH) reported that its second-quarter net loss widened to $53.1 million, or $0.53 per share, from $21.0 million or $0.21 per share last year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.24 per share for the quarter. Analysts' estimates typically exclude special items.

Gross profit was $314 million, compared with $340 million last year. Gross profit performance was negatively impacted by a soft demand for postpaid units and consumer response to specific promotions during the quarter.

Total net sales and operating revenues for the quarter were $844.5 million, down from $848.6 million last year. The decline was driven by the impact from closed stores offset by comparable store sales growth of 1.3%. Fifteen analysts had consensus revenue estimate of $815.84 million for the quarter.

The company also announced that its Chief Financial Officer Dorvin Lively, has resigned from the company to pursue a new career opportunity and that Holly Etlin, a managing director at AlixPartners, has been named interim Chief Financial Officer.