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

3 days ago in Sports

The weekend sports schedule

penscaps16120076416963

Here’s a look at some of the sporting events taking place this weekend.

3 days ago in Sports

The best sports shots this week

goffdraft870850982276

A look at some of the biggest plays and best moments in sports this week.

3 days ago in National

Making headlines this week

kansasweatherAP

A look back at some of the biggest newsmakers this week and the headlines you may have missed.

3 days ago in Sports

Reigning NL batting champ banned 80 games for doping

marlinsdeeREUTERS

Dee Gordon of the Miami Marlins was suspended 80 games without pay after testing positive for a performance-enhancing substance, Major League Baseball said.

3 days ago in National

Teen pregnancies hit historic low

sexed296416402183

The annual survey shows the continuation of a downward trend that began in 2006 and continued through 2014, the latest year of complete data, when nearly 250,000 babies were born to girls and women aged 15 to 19.