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RadioShack to close 1,100 stores

(USA TODAY) -- After reporting dismal fourth-quarter earnings, RadioShack said Tuesday that it would close about 1,100 poorly performing stores, roughly 20% of the electronic retailer's locations.

The store closings will leave about 4,000 locations in the U.S. The company has been struggling to revamp its stores for the past year.

Total net sales and operating revenues were $935.4 million in the fourth quarter, vs. $1,171.4 million last year, a 20% decline. Comparable store sales were down 19%, which the company blames on poor performance in its mobile phone business.

RadioShack stock was down more than 20% in premarket trading.

"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," CEO Joseph C. Magnacca said in a statement.

Best Buy to cut hundreds of jobs

(BUSINESS JOURNAL) -- Best Buy Co. Inc. plans to cut hundreds of jobs throughout its U.S. store operations, according to a report in the New York Post.

The article, citing anonymous insiders, says the "layoffs could affect upwards of 2,000 managers," though the exact scope isn't known. The retailer does not plan to close any of its 1,055 U.S. stores at this time.

Best Buy, which reports its fourth-quarter earnings on Thursday, declined to comment. The chain has 19 stores in metro Atlanta.

Late last month, Best Buy announced it was laying off roughly 950 full-time employees at its Best Buy and Future Shop stores in Canada as part of a store-restructuring initiative. The company said it will consolidate sales departments and reduce management layers in an effort to "streamline its store operating model as part of the company's long-term growth strategy in Canada."

Jos. A. Bank buying Eddie Bauer in $850M deal

Jos. A. Bank buying Eddie Bauer in $850M deal

HAMPSTEAD, Md. -- Jos. A. Bank Clothiers Inc. is buying the parent company of Eddie Bauer in a cash-and-stock deal valued at $850 million.

The men's clothing company, which itself is being pursued by Men's Wearhouse Inc., made the deal with Everest Topco LLC to buy Everest Holdings LLC, Eddie Bauer's parent company.

Jos. A. Bank said Friday that the transaction includes $564 million in cash and about 4.7 million new shares of Jos. A. Bank stock issued to Everest Topco at $56 per share.

Everest Topco may also earn up to an additional $50 million in cash based on Eddie Bauer's adjusted earnings for fiscal 2014.

Jos. A. Bank may end the deal if it receives an acquisition offer for its company that it feels is superior.

13 Ga. bars make 100 Best Bars list

13 Ga. bars make 100 Best Bars list

(ATLANTA BUSINESS CHRONICLE) -- Thirteen Georgia bars have made Southern Living magazine's list of 100 Best Bars in the South.

Says Southern Living, "We sipped our way through the South to compile a list of our 100 favorite Southern bars. From down-and-dirty dives to sleek and buzzy cocktail lounges, these spots are sure to liven up any Friday night."

Georgia bars on the list are:

* The National, Athens
* Normal Bar, Athens
* The World Famous, Athens
* Argosy, Atlanta
* The Brookhouse Pub, Atlanta
* H. Harper Station, Atlanta
* Monday Night Brewing, Atlanta
* One Flew South, Atlanta
* The St. Regis Bar, Atlanta
* Kimball House, Decatur
* Paper Plane, Decatur
* Pinkie Master's Lounge, Savannah
* The Sparetime, Savannah

Grocery is the #1 holiday purchase! Research shows where consumers are spending this holiday season

Grocery is the #1 holiday purchase! Research shows where consumers are spending this holiday season

With all the hype and Black Friday campouts at Best Buys and Toys R Us, you'd guess that the majority of holiday shopping budgets go to purchases like electronics, toys and clothing. But according to new research, the biggest share what comes out of your holiday wallet actually goes to ... groceries and restaurants.

New data from Card-Linked Marketing leader Cardlytics -- collected from millions of U.S. households over the past two years -- shows what consumers actually spend their money on during the holiday season.  When it comes to holiday shopping Americans are spending 24% of their budget on groceries followed by restaurants and apparel.  Toy purchases are actually at the bottom of the list.

The Top 10 Share of Wallet (see link/attached for graphics and pie charts for 2011 and 2012 holiday spending):

1. Groceries - 24%

N. Georgia's 706 area code exhausted, new area code will be 762

AUGUSTA -- More 762 area codes are coming to Georgia in the coming months, because combinations for the 706 code were exhausted last week, reports The Augusta Chronicle.

The 762 area code isn't new, but it will be more widely used, said John Manning, director of the North American Number Planning Association, the group that administers telephone numbers in the U.S., its territories and Canada.

The 762 area code was added in 2006 as an overlay code for the 706 zone because of the growing amount of phone, computer and cell phone lines, the Augusta paper reports. The 706 and 762 region includes metro Augusta, Athens, Columbus and north Georgia.

"As the area continues to grow and more numbers are needed, we are going to see more and more 762 prefixes," Manning said.

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LittlePINKBook.com invites women to join conversation Nov. 12 with top female executives

LittlePINKBook.com invites women to join conversation Nov. 12 with top female executives

ATLANTA -- LittlePINKBook.com, America’s No. 1 digital platform for career women, will host its 9th Annual Fall Empowerment Event on Tuesday, Nov. 12. Top-level female executives will share their experiences with rising through the corporate ranks to an audience of like-minded, successful women motivated to get there.  

Executives on the panel will be asked questions from the event’s moderator, Carol Costello, anchor at CNN Newsroom, Little PINK Book’s CEO and Founding Editor Cynthia Good as well as attendees. Panelists include: