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Office supplies giant’s Q4 revenue, profit falls short
Staples swung to a loss in its fourth quarter, and said it would close more stores in 2017. The retailer reported a net loss of $615 million for the quarter ended Jan. 28, or $0.94 per share, compared to a profit of $86 million, or 20 cents per share, for the year-ago period. Adjusted non-GAAP earnings came in at $0.25 per share, one cent below the consensus estimate. -
RadioShack files Chapter 11 — again
RadioShack Corp. filed for Chapter 11 bankruptcy protection, its second filing in just over two years. The electronics retailer said it would close approximately 200 stores, and evaluate options on the remaining 1,300 locations. General Wireless Operations Inc. acquired the then-bankrupt RadioShack in April 2015, with a plan to turnaround the struggling company by co-branding the bulk of the stores with wireless carrier Sprint.