Report: RadioShack to close 500 stores

7:26 PM, Feb 5, 2014   |    comments
A RadioShack store in Dallas. (Photo: LM Otero, AP)
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(USA TODAY) RadioShack plans to close about 500 of its 4,500 stores, the Wall Street Journal says, citing unnamed sources.

The company is upfront in its plans to retool and update its image, noting of its ad in this past weekend's Super Bowl that it 
"is meant to shed outdated perceptions of the brand for consumers in need of a reintroduction to RadioShack."

A company spokesman told USA TODAY it doesn't comment on "speculation or rumor."

RadioShack stock has cratered since its 5-year high of $23.65 a share -- it's now trading at $2.38, a 90% drop.

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