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 Sports

Wild World Series: Perfect Royals, tested Giants

24-overlay3

Playoff-perfect Kansas City will meet San Francisco on baseball's biggest stage.

in Music, Sports

San Fran bans Lorde’s ‘Royals’ for World Series run

lorde

California radio stations have removed the chart-topping song from their playlists.

in National

Suspected Indiana serial killings could go back 20 years

gary

A man suspected in at least seven slayings of women may have killed other people in the state as far back as 20 years, police say.

in Sports

Kings’ Voynov suspended by NHL after domestic violence arrest

kings

Defenseman Slava Voynov was suspended indefinitely after his arrest on charges of domestic violence.

in National

Toyota recalls 247K more vehicles to fix air bags

toyota

The automaker is recalling cars, SUVs and pickup trucks because of potentially defective front passenger air bag inflators.