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RadioShack Closing Underperforming Units

Fort Worth, Texas-RadioShack will shutter 35 underperforming stores and sell its corporate headquarters, leasing space until it moves into new headquarters in 2004. RadioShack will take a pre-tax charge of $124 million for the moves, and expects to reduce operating expenses, improve earnings and enhance workplace efficiency by 2005. The company said it may not report the sales growth it had originally projected this year as a result of the decline in personal computer sales, but would still meets its earnings growth target. -Chain Store Age

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