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.

Recent Headlines

in Viral Videos

WATCH: ‘Bohemian Rhapsody’ Halloween house

Fresh
15-overlay4

The decorations and synchronized light display on this house is so impressive, we won't even ask for candy.

in Entertainment

Bryan Cranston laughs off ‘Breaking Bad’ toy controversy

breaking

A Florida mom wants action figures from the popular series banned from Toys 'R' Us stores.

in Viral Videos

Brad Pitt in ‘Furby’

17-overlay1

What if the WWII tank movie was remade with the furry toys?

in Entertainment

Jimmy Fallon penning picture book

jimmyfallon

Fallon's daughter Winnie Rose has inspired the picture book, which will hit store shelves this summer.

in Music

Is your favorite artist ‘smart’ or ‘stupid?’

beethovenlilwayne

Can your listening habits actually boost your brain power?