News

Say goodbye to your local RadioShack

Say goodbye to your local RadioShack

RADIOSHACK:The company plans to close 1,100 stores. Photo: Associated Press

FORT WORTH, Texas (AP) — RadioShack plans to close up to 1,100 of its underperforming stores in the U.S. and reported a wider loss for its fourth quarter as traffic slowed during the critical holiday season.

The stock tumbled more than 24 percent in Tuesday premarket trading.

The store closings would leave RadioShack with more than 4,000 stores.

For the period ended Dec. 31, the electronics retailer lost $191.4 million, or $1.90 per share. That compares with a loss of $63.3 million, or 63 cents per share, a year earlier. Excluding items, RadioShack Corp. lost $1.29 per share. Analysts expected a loss of 16 cents per share.

Revenue declined to $935.4 million from $1.17 billion. Sales at stores open at least a year fell 19 percent on weaker traffic and the soft performance of its mobility business. Analysts expected revenue of $1.12 billion.

Latest Stories

in Sports

This weekend’s sports schedule

votto

Here's a look at some of the major sporting events happening this weekend.

in Sports

This week’s best sports shots

AP_525787848997

A look back at some of this week's biggest plays and best moments in sports.

in Sports, Weird

WATCH: Miami Marlins play dirty

15-overlay18

After the Washington Nationals started playing soft rock during opponent's batting practices, the Marlins decided to pay them back with some trolling in the form of fart noises.