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

10 hours ago in Local

UIS Breaks Ground on Student Union

5-4-16 UIS Groundbreaking

Ground has been broken on what is being referred to as the "Living Room" for the students of the University of Illinois Springfield.

10 hours ago in Local

Aeropostale to Close Springfield, Forsyth Stores

aeropostale

Aeropostale files for Chapter 11.

11 hours ago in Local

Social Service Groups Sue Governor for $100M Past Due

Illinois Republican gubernatorial candidate businessman Bruce Rauner participates in a Republican gubernatorial candidate debate Tuesday, Feb. 18, 2014, in Springfield, Ill. The four Republican gubernatorial candidates said that they’ll be willing to work with unions if elected but differed on how to approach the relationship during a downstate debate that largely focused on pension reform, taxes and just briefly on personal issues that have dogged some of the candidates.

Five dozen social service agencies working without pay for nearly a year because of the Illinois state budget stalemate are suing Gov. Bruce Rauner.

11 hours ago in Local

Trial Set for 2 of 6 Men Accused of Dismembering Woman’s Body

Champaign Police Murder Arrests WAND

Two of the six men charged with dismembering a missing Champaign woman will be held for trial after a judge heard testimony from a detective.

12 hours ago in Local

Death Knell for Graduated Income Tax

tax

Sponsors blame Rauner