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

Star sprinter Torrin Lawrence dies at 25

FILE - In this June 20, 2013 file photo, Torrin Lawrence reacts after his heat in the senior men's 400-meter dash at the U.S. Championships athletics meet in Des Moines, Iowa. Former University of Georgia 400-meter runner Torrin Lawrence died in a car accident early Monday, July 28, 2014 in Cordele, Ga. He was 25.

Celebrated track star Torrin Lawrence has been killed in a tragic road accident in Georgia.

in Sports

Judge gives go-ahead for $2 billion sale of NBA’s Clippers

With her attorney Pierce O'Donnell, right, Shelly Sterling, center, talks to reporters after a judge ruled in her favor and against her estranged husband, Los Angeles Clippers owner Donald Sterling, in his attempt to block the $2 billion sale of the NBA basketball team, outside Los Angeles Superior Court, Monday, July 28, 2014.

Shelly Sterling can proceed with the record $2 billion sale of the Los Angeles Clippers despite her husband's objections, a judge ruled on Monday.

in Trending, Viral Videos

TODAY’S MUST SEE: How to cool a drink in two minutes

Cold Drinks

Never drink a lukewarm beverage again! Check out this helpful summer trick.