RadioShack Corporation (NYSE:RSH) shares were down almost 9% in the first hour of trade Tuesday after the consumer-electronics retailer reported a greater-than-expected net loss for fiscal Q1. Revenue also missed the Street view. 

RSH hit a session low of $1.31 then spiked up to $1.49 while trading in a 52-week range of $1.12 to $4.36. For the quarter ended May 3, the company posted a net loss of $98.3 million, or $0.97 per share, compared with a net loss of $28 million, or $0.28 per share, a year ago. 

Excluding one-time items and discontinued operations, it lost $0.98 per share in the latest period, compared with a loss of $0.26 per share in the prior-year period. Analysts polled by Thomson Financial expected a loss of $0.52 per share on average. Revenue fell 13% to $736.7 million, missing analysts’ mean estimate of $767.5 million. 

Consolidated gross profit was 36.5% of net sales, compared with 40.2% of net sales a year earlier, with the company saying the decline primarily was driven “by aggressive price competition in our current postpaid and prepaid handset offerings.” 

The company said it closed 22 stores in fiscal 2015 and expects to close up to 200 stores based on location, area demographics, lease life and financial performance.