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RadioShack Says Goodbye to the 80s and One Thousand Stores

Keris Alison Lahiff
3/04/14 2:21 PM EST
A peppy Superbowl advertisement starring 80s legends was RadioShack's Hail Mary pass, because it is losing money at a rate no analyst expected. The electronics retailer will close 1,100, or one-fifth, of its stores following a rough fourth quarter. RadioShack reported revenue fell more than 20% to $935 million, while its quarterly net loss was $1.29 a share. Wall Street had forecast a net loss of 14 cents a share. RadioShack shares are tumbling in Tuesday trading on the announcement.
Stocks in this video: RSH

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