RadioShack’s struggles continue


BLOOMBERG: The electronic store chain posted its 11th-straight quarterly loss, which was even worse than projections.

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BLOOMBERG: The electronic store chain posted its 11th-straight quarterly loss, which was even worse than projections.

Excluding certain items, the loss amounted to $1.23 a share for the third quarter, which ended Nov. 1, the Fort Worth, Texas-based company said today in a statement. Analysts had predicted a loss of $1.04 on average, according to data compiled by Bloomberg. To cope with the red ink, the company said it’s undertaking a cost-cutting plan that will save at least $400 million a year.

RadioShack, which has now posted 11 straight quarters of losses, warned earlier this year that it may have to seek bankruptcy if its condition doesn’t improve. It’s also feuding with lenders, who blocked an effort to close 1,100 underperforming stores. Shoppers, meanwhile, are increasingly aware of the company’s plight, said Anthony Chukumba, an analyst at BB&T Capital Markets in New York.

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