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 Lifestyle

If you need a passport, prepare to wait

passport

The State Department says its global database for issuing travel documents has crashed, causing major delays for travelers.

in Music

Jason Aldean fan found dead after concert

aldean

The 22-year-old's body was discovered after the concert in a local landfill among trash from the stadium.

in Music

Alan Jackson lands Country Music Hall exhibit

alanjackson

Beginning on Aug. 29, fans will be able to visit the exhibition chronicling his rise to fame.

in Music

Elvis’ library card, script up for sale

elvis

A library card signed by Elvis Presley in seventh grade is expected to be among the hottest items at an auction at his Memphis mansion next month.

in Trending, Viral Videos

TODAY’S MUST SEE: Jimmy Fallon & The Rock’s 80s workout video

rock

Jimmy Fallon and Dwayne "The Rock" Johnson air some of their long-lost workout tapes and prove that "you've gotta hustle for the muscle."