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 Entertainment

REVIEW: ‘Creed’ builds on the legacy of ‘Rocky’


"Creed" stays rooted in tradition while simultaneously taking the entire franchise in a new direction as vital as it is welcome.

in Black Friday, Entertainment

11 awkward Thanksgiving jokes


Worried about spending quality time with family this weekend? Cut the dinner table tension with a delightfully awful Thanksgiving zinger.

in Black Friday, Entertainment

HOLIDAY TV: What to watch this week


From classic specials to movies and competitions, this week is packed with programs to get you in the holiday spirit.

in Music

Tanya Tucker approves of Barrett Baber’s ‘The Voice’ song


Tanya Tucker gives her stamp of approval on "The Voice" contestant Barrett Baber's version of her song, "Delta Dawn."

in Entertainment, Sports

Baseball great Willie Mays, 16 others, receive honors from Obama


Yogi Berra, Barbra Streisand, Itzhak Perlman, and among 14 others were given the highest U.S. civilian honor.