RadioShack is closing 1,100 of its stores in the United States after a disappointing holiday sales performance, Reuters reports.
RadioShack's stock dropped by 23 percent after the company announced a quarterly loss this week. Its planned store closures comprise 20 percent of the company's total retail locations. Over 4,000 RadioShack stores will remain following the upcoming round of closures.
Though it's best known for selling electronic components, RadioShack expanded its retail offerings in 2007 to include video games, consoles, and trade-ins.