RadioShack Corporation (NYSE:RSH) rushes forth into NYC with new concept stores

Posted by Michael Korte August 27, 2013 0 Comment 1318 views

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.

About Michael Korte

Michael Korte an investigative reporter at GDP Insider and is a breaking news reporter. Michael work includes investigations of misconduct by federal prosecutors and industrial air pollution around the nation's schools. His reporting has been recognized with the Hillman Prize for Newspaper Journalism, the Grantham Prize for Excellence in Reporting on the Environment, and the Philip Meyer Journalism Award for reporting that incorporates social science methods.

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