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RadioShack files for bankruptcy, plans deal with Sprint
2015-02-06 01:44:01| IT Services - Topix.net
Struggling consumer electronics chain RadioShack, founded nearly a century ago, filed for Chapter 11 bankruptcy protection late Thursday. It plans to sell 1,500 to 2,400 stores to its largest shareholder, Standard General, and has filed a motion to proceed with closing the remainder of its 4,000 U.S. stores.
Tags: files
plans
deal
bankruptcy
Sprint reports 3Q loss, but adds new customers
2015-02-05 18:24:50| IT Services - Topix.net
Sprint Corp. reported a loss during its third quarter, but the wireless carrier said it added nearly 1 million new customers during its third quarter. The company has been very aggressing in trying to lure customers away from rivals.
Tags: new
reports
loss
customers
Sprint Takes $1.9 Billion Charge To Write Down Brand Name
2015-02-05 15:10:22| IT Services - Topix.net
Sprint Corp. wrote down the value of its brand name by $1.9 billion in its December quarter, helping drag the wireless carrier to a wider loss than a year ago. Still, Sprint lost fewer of the industry's most lucrative subscribers in the period.
Sprint losses double in Q4 after brand writedown
2015-02-05 14:40:00| Telecompaper Headlines
(Telecompaper) US operator Sprint reported an operating loss of USD 2.54 billion for the fourth quarter, hurt by impairment charges to write down the value of its brand name and wireline assets. The net loss widen to USD 2.38 billion from USD 1.04 billion a year earlier. The operator's adjusted EBITDA fell by 10 percent year-on-year to USD 1.04 billion, as its turnaround efforts have yet to pay off in the mobile market. Revenues fell 2 percent to USD 8.97 billion, as growth in hardware sales offset a continued fall in mobile service revenues. Sprint managed a net gain of 30,000 postpaid customers in the quarter, but postpaid churn continued to increase as well, to 2.30 percent under the Sprint brand from 2.18 percent in the third quarter. Postpaid ARPU also declined due to intense promotional activity, dropping to USD 58.90 from USD 60.58 in the previous quarter. Sprint also added 410,000 prepaid users and 527,000 wholesale Sims in Q4, to finish the year with a total 55.93 million customers, up from 53.35 million a year earlier. Sprint CEO Marcelo Claure said the company was pleased with the higher sales and improving mix of the customer base, but it "still had a long way to go" to turning around results and especially reducing churn to competitive levels.
Tags: brand
double
losses
sprint
RadioShack may close, Sprint to get half of chain: BBG
2015-02-02 21:02:56| Telecom - Topix.net
Troubled electronics retailer RadioShack Corp is preparing to shut down the chain in a bankruptcy deal that would see half the stores taken over by Sprint Corp, Bloomberg News reported, citing people with knowledge of the discussions. The Wall Street Journal reported on Sunday that Standard General, a hedge fund and the largest investor in RadioShack, was in talks to serve as the lead bidder at a bankruptcy auction.
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