RadioShack Corporation (NYSE:RSH) rushes forth into NYC with new concept stores
RadioShack Corporation (NYSE:RSH) has opened up new concept stores in as well as around Manhattan. To celebrate this opening, the company has introduced 2, limited-edition, custom NY-inspired Over-ear Beats headphones by Dr Dre. They are meant to be a tribute to two New York City icons- The Statue of liberty and the ever-present taxicabs.
A matter of touch
Apart from these stores that have been opened-up by the company, it has also revealed some development –details of a “Low Touch” format that will be launched in certain neighbourhoods across the country, over the next few months. As part of RSH’s stress on reinvigorating its stores and also re-positioning its brand, it is opening some high-touch stores that will be filled with playful experiences and interactive features. All these store are located in high-profile, high-traffic locations.
The last quarter
Last month, the company had also said that its net loss had grown to $53.1M or 53 cents/share from the $21M or 21 cents/share that it stood at a year ago. On an average, analysts had projected a loss of 24 cents/share. There was a 0.5% dip in sales to $845M. This has been attributed to the closure of some of the company stores. There was a 1.3 percent rise in same store sales in the quarter. This was RadioShack Corporation (NYSE:RSH)’s 1st quarterly rise since the year 2010. Gross margin was 37.2% of the net sales in comparison to the 40.1% that they stood at, a year ago.
Latest trading data
In Monday’s trading session, RadioShack Corporation (NYSE:RSH) rose 12.87%. The shares had an opening price of $3.05 which rose to an intraday high of $3.52 and closed at $3.43. More than 8.97 million shares were traded on Monday while the average volume of shares traded over 30 days was 3.26 million. The company has a market cap of $340.98 million.