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 Music

Colbie Caillat engaged

Colbie Caillat performing as part of the Star 94 Jingle Jam 2013 at The Arena at Gwinnett Center on Monday, Dec. 16, 2013, in Atlanta.

Colbie Caillat celebrated her 30th birthday with an engaged to her musician boyfriend.

in Entertainment

Netflix: What’s coming and going in June

netflix

Find out what you should watch this weekend and get a sneak peak at what's being added next month.

in Entertainment

REVIEW: The Earth quakes, cleavage shakes in ‘San Andreas’

17-overlay9

"San Andreas" is so over the top, Michael Bay might find it excessive.

in Music

Stars salute Pete Townshend

24-overlay6

The Who star was honored with a special concert for his longtime work with the MusiCares charity.

in Music

Mariah Carey was really not into ‘American Idol’

mairahcarey

The pop diva says the show was among the "worst" experiences in her long career.