RadioShack plans to close up to 1,100 stores; no word on Scottsb - kotanow.com- Scottsbluff Area News, Sports, and Weather

RadioShack plans to close up to 1,100 stores; no word on Scottsbluff, Alliance, Chadron, or Sidney stores

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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 16 percent in Tuesday trading.
 
The store closings would leave RadioShack with more than 4,000 stores. Currently, there are Radio Shack locations in Chadron, Alliance, Scottsbluff and Sidney.
 
For the period that ended December 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.

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