RadioShack to Close 1,100 Stores After Dismal Fourth Quarter
RadioShack will close 1,100 U.S. stores after poor performances and changes will affect about 20% of stores. The company did not identify which locations will close or determine a deadline as they need to contact landlords and lenders. With competition against larger electronic stores, such as Best Buy, revenue has drastically declined in the fourth quarter and stock in now down 17%. RadioShack is hoping the changes will give them room to make the company more competitive in electronics retailing.
By Jordan Moses
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