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RadioShack ends mobile agreement with Target

FORT WORTH, Texas (AP) -- RadioShack Corp. said Monday that it is ending an agreement with Target Corp. to run mobile phone centers in its stores.

The electronics retailer struck that deal with the retailer to operate Target Mobile in 2010. Shoppers could buy mobile phones, activate contracts and buy accessories there.

RadioShack said that it has been renegotiating the terms of its relationship since October to make it profitable for both companies. But an agreement was out of reach, and it will end the contract in April.

A representative for Target could not be reached immediately for comment.

Radioshack has suffered from eroding profits for several years and in September announced the departure of CEO James Gooch. The chain's troubles are partly due to wider problems in the brick-and-mortar electronics industry.

RadioShack shares rose 9 cents, or 4.1 percent, to close at $2.31. Target shares rose 32 cents to close at $60.39.