RadioShack to close 1,100 stores

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RadioShack said it plans to close up to 1,100 stores in the U.S after its stock tumbled 24 percent in pre-market trading Tuesday.

Once the stores are closed, Radio Shack will still have more than 4,000 U.S. stores and about 900 dealer franchised stores.

The company did not say what stores would be closing and how many jobs will be lost, but did say the closings will be based on location, area demographics, lease duration and financial performance.

RadioShack reported a full-year loss of $400.2 million, or $3.97 per share. In the prior year it lost $139.4 million, or $1.39 per share.

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