RadioShack to Close Up to 1,100 U.S. Stores

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 customer traffic slowed during the critical holiday season. CEO Joseph Magnacca said in statement that the planned store closings would leave RadioShack with more than 4,000 U.S. stores, including more than 900 dealer franchise locations. The company didn't immediately identify what stores are being closed. The electronics retailer said that the stores to be closed are being selected based on location, area demographics, lease duration and financial performance.