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.
Radio Shack did not immediately identify which stores would close, Calls to the corporate headquarters have not been returned.
Local store managers Hays, Salina and Great Bend said they were not allowed to comment. However, one indicated a list of stores was being circulated and that no Kansas stores were on the list. Officials at the store in Hutchinson didn’t believe their store would close. They recently moved from the Hutchinson Mall to their current location at 1510 East 17th.
The store closings would leave RadioShack with more than 4,000 stores.
The company stock tumbled more than 24 percent in Tuesday premarket trading.
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.