Local

RadioShack Closing More Than 1,000 Stores

View Comments

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

From Our CBS Music Web Sites

185992939 10 RadioShack Closing More Than 1,000 StoresHot Halloween Costumes

3258814 RadioShack Closing More Than 1,000 StoresTop 10 Horror Films

 alt=Musicians Then And Now

452359772 10 RadioShack Closing More Than 1,000 StoresMissing Summer?

 alt=Celebrities And Their Dogs

cowb thumb RadioShack Closing More Than 1,000 StoresCowboys Cheerleaders

FORT WORTH (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.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Latest News:

Top Trending:

View Comments