UPDATE: RadioShack Posts Q4 Loss, Plans To Close 1,100 Stores

RadioShack RSH reported a wider fourth-quarter loss and announced its plans to close up to 1,100 US stores. RadioShack's sales at stores open at least a year fell 19%. RadioShack posted a quarterly loss of $191.4 million, or $1.90 per share, versus a year-ago loss of $63.3 million, or $0.63 per share. Excluding special items, it lost $1.29 per share. Its revenue declined 20% to $935.4 million. However, analysts were expecting a loss of $0.14 per share on revenue of $1.12 billion. RadioShack shares dropped 13.97% to trade at $2.34 at 11:10 a.m. ET.