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The electronics retailer may have had a hit in the advertising realm recently, but RadioShack is clearly hurting. According to widespread reports out today, the Fort Worth-based company will close up to 1,100 stores across the country.
After initial news of RadioShack—exactly one month ago today—closing 500 stores, it's clear the company is in worse trouble than previously thought.
The holiday season was particularly unforgiving to the retailer, which saw a 20 percent drop in sales, or a loss of more than $191 million in the fourth quarter.
Perhaps this is something Mary Lou Retton et al. can't solve.
· RadioShack Reports Big Loss, Will Close Up to 1,100 Stores [S-T]
· RadioShack [Official Site]
· All RadioShack Coverage [Racked Dallas]