RadioShack reported that sales in the first quarter were down 7% from a year ago to $849 million, well below the average analyst estimate of $960.7 million. The retailer posted a net loss of $43.3 million, compared with an $8 million loss a year ago. "I know we have some gaps and improvements that need to take place," CEO Joseph Magnacca said, promising a face-lift for the chain's stores in New York City. He added, "This work will also touch our online and mobile channels over time."
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