- RadioShack (NYSE:RSH) will release its financial results Thursday morning, and Wedbush analyst Michael Pachter sees a big, big miss, projecting a $0.66/share loss vs. Street consensus for a $0.36 loss, on sales of $762M vs. $893M consensus.
- The firm says brick and mortar electronics retailers such as RSH and Best Buy (NYSE:BBY) will see persistent structural decline as internet sales continue to take share; it sees continuing evidence of traffic deterioration and lower productivity for BBY’s retail foot print, while RSH has less financial flexibility to invest in price competitiveness.
- Believing bankruptcy is imminent, Pachter lowers his price target for RSH to zero.
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