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.

Latest Headlines

in Local

$9M for Projects to Mitigate Climate Change Threats

GENERIC OCEAN LARGE

PORTLAND, Maine (AP) _ The National Oceanic and Atmospheric Administration is offering $9 million in grants to help coastal communities…

in Local

Maine Docs to Provide More Than 13,000 State Park Passes

WGAN-100x100

PORTLAND, Maine (AP) _ Maine primary care physicians are giving out more than 13,000 free Maine State Park Passes starting…

in Local

Crackdown on Seat Belt Law Underway in Maine

WGAN-100x100

PORTLAND, Maine (AP) _ Law enforcement officials are cracking down on seat belt scofflaws in Maine. More than 50 law…

in Local

LePage Designates $10,000 To Support Veterans’ Services

governorlepage

AUGUSTA, Maine (AP) Republican Gov. Paul LePage has designated $10,000 from his contingency fund to support a program for veterans.

in Local

With Session’s End Nearing, Lawmakers Still Have Much To Do

GENERIC MAINE STATE HOUSE LARGE

AUGUSTA, Maine (AP) Dozens of contentious issues in the Maine Legislature remain unresolved with just weeks until the mid-June statutory adjournment date. But legislative leaders say they'll everything they can to meet the June 17 deadline, even if that means some late nights at the Statehouse.

Tweets

  • 14h
  • 14h
  • 15h
  • 16h
  • 17h
  • 17h
  • 40h