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FORT WORTH, TEXAS -- Despite store closings, merchandising changes and a new ceo, RadioShack reported third-quarter results that fell far below Wall Street's expectations and sent its stock lower by approximately 7.5%.
For the three months ended Sept. 30, RadioShack had a net loss of $16 million compared to a net income of $108.5 million in the year-ago period. Comps were also down 9.6% in the quarter and the company's core categories suffered the most.
Total wireless sales declined 21%, accessories dropped 1%, battery and power product sales were down 13% and the modern home platform declined 14%, all of which negatively impacted gross margin. On the plus …