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

8 hours ago in Local

Lawmakers Honor Lincoln at Lincoln’s Tomb

2-12-16 Lincoln Tomb

Senator Dick Durbin, a Democrat, says a Republican like Abraham Lincoln is still someone for which we should place great honor.

8 hours ago in Local

Grant Encourages Better Farm Conservation

farm

If you're a farmer in the 21st Century, you're probably hearing about - if not practicing - "precision farming." And that extends to conservation practices, too.

12 hours ago in Local

Rauner to Close Juvenile Prison

juvenile justice

Gov. Bruce Rauner's administration says it will close the youth correctional facility in Kewanee, near Peoria and the Quad Cities.

12 hours ago in Local

$1 Million Donated for Governor’s Mansion Repairs

governor's mansion

The organization leading efforts to renovation the Illinois governor's mansion says it received $1 million in donations last year toward efforts to fix a leaky roof and other things.

12 hours ago in Local

Illinois Up for Federal Transportation Money

road construction

Illinois transportation planners are awaiting details of how they could use a potential multi-million windfall for the state.