DOWNERS GROVE – RadioShack plans to close 1,100 under-performing stores in the U.S. amid disappointing holiday sales figures, the company announced Tuesday.
RadioShack CEO Joseph C. Magnacca told stockholders in a press release Tuesday that fourth quarter 2013 financial results were "driven by a holiday season characterized by lower store traffic, intense promotional activity particularly in consumer electronics, a very soft mobility marketplace and a few operational issues."
"Even in this environment, we're continuing to make progress on the five pillars of our turnaround plan: repositioning the brand, revamping the product assortment, reinvigorating the stores, operational efficiency and financial flexibility," the statement read.
After the closings, RadioShack will still have 4,000 stores in the U.S. including more than 900 dealer franchise locations, according to the investor statement.
The company did not list which stores would be closing.
Downers Grove has two RadioShacks, one at 220 Ogden Ave. and another at 7319 Lemont Road.
Employees at both locations directed calls to the corporate office. A call to RadioShack's corporate media line was not returned.
The company recently began a new marketing and branding campaign, buying a 30-second spot during this year's Super Bowl poking fun at it's outdated image.
The company said in a press release at the time that the ad was "meant to shed outdated perceptions of the brand for consumers in need of a reintroduction to RadioShack."