U.S. Markets close in 1 hr 51 mins

RadioShack cites 'intense wireless carrier promotions' for Q1 mobility weakness

Says mobility business was weak in Q1 due to "lackluster" consumer interest in the current handsets available the market today, aggressive price competition on those products and intense wireless carrier marketing activities. Says has a "clear vision" for RadioShack's future. Says in the process of refreshing 30%-40% of its service this year with new products. Says seeing "solid" sales of streaming media players, says customers using products like Google's (GOOG) ChromeCast and Apple TV (AAPL). Says continues to see strong performance in concept stores. Expects to improve gross margin performance, profitability with the assortment changes company is making. Says saw growth in tablets business in Q1. Says ability to maintain a sufficient liquidity to fund operations and execute the strategic turnaround plan is contingent on improving the current trend in its operating results. Says working with landlords to find an efficient and cost-effective means to reduce rent expense. Comments made on the Q1 earnings conference call.