RadioShack reports dismal Q4 and massive store cuts, shares -23%

|About: RadioShack Corporation (RSH)|By:, SA News Editor

RadioShack (RSH) is getting shellacked in early trading after missing the Q4 profit estimate of analysts by a country mile.

Comparable-store sales tumbled 19% during the period.

Par for the retail course, promotions and weak store traffic took a heavy toll on profitability for the company.

Looking ahead, RadioShack (RSH) plans to close up to 1.1K under-performing stores in the U.S.

Shares of RSH -22.8% premarket