RadioShack to Close 1,100 Stores as Sales Slump
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RadioShack Corp., the electronics retailer trying to shake its reputation as a relic, tumbled the most in more than four months after sales missed estimates and the chain announced plans to close about a fifth of its stores.
Fourth-quarter revenue declined 20 percent to $935.4 million, the Fort Worth, Texas-based company said in a statement today. Analysts anticipated $1.12 billion on average, according to data compiled by Bloomberg.