Categorized | Business news, National

RadioShack closing 1,100 stores as losses grow

When’s the last time you’ve been in a RadioShack? Yeah, me either. RadioShack logo1

And apparently that’s the case with the chain, which announced today it’s closing 1,100 of its stores, leaving about 4,000 locations, including about 900 dealer-franchise locations. The company hasn’t announced which stores it’s closing.

You may remember the company’s Super Bowl ad  ( “The 80’s called – they want their store back), which gave the struggling chain a bump in exposure. It needs it.

According to Reuters, RadioShack’s net loss widened to $191.4 million, or $1.90 a share, in the fourth quarter, from $63.3 million, or 63 cents, a year earlier. Sales fell to $935.4 million in the quarter covering the all-important holiday season, from $1.17 billion in the year-ago period.

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