As part of its turnaround plan, RadioShack has identified 480 toclose, 432 of which have already been shut. The company currentlyoperates about 6,000 US units, about 750 of which it plans torenovate by the holiday season.

Same-store sales fell 3% year over year for the quarter, whichended on June 30. Total sales rose 1%, to $1.1 billion. Wirelesssales increased by 2%, accessories were up by 9%, and personalelectronics jumped 20%, led by MP3 players and satellite radios.The company will begin selling flat-panel televisions at all of itsstores by September.

RadioShack's $3-million drop in income during the quarter wascompared to a $52-million profit during the same year-ago period.Costs related to its turnaround cost the retailer $21 million andthe settlement of wage- and-hour class action lawsuits resulted inan $8.5-million charge.