RadioShack said it plans to close up to 1,100 stores in the U.S. and reported a wider quarterly loss after a disappointing holiday season.
Its stock tumbled 24 percent in premarket trading Tuesday.
CEO Joseph Magnacca said in statement that the store closings would leave RadioShack with more than 4,000 U.S. stores, including more than 900 dealer franchise locations. The company didn't immediately identify which stores will be closed or how many jobs would be affected.
A call to the company, based in Fort Worth, Texas, was not immediately returned.
The closures represent just the latest setback for RadioShack, which has been struggling to update its image and compete with the rise of online retailers in recent years. In addition to slashing costs and shuffling management, RadioShack has been renovating its stores with a more modern look.
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I surprised that they are still in business. They have turned themselves into a cell phone Kiosk with a few remote control toys instead of a hobby shop for electronics gear. And they are outclassed in the Cell phone market by ... everyone. Anything complicated you have to get from their on-line store at twice the price you can find the same thing on line elsewhere (China). I would never buy anything from them more complicated than an extension chord.
ReplyDeleteI haven't been in one for years.
DeleteWhat little they do have is vastly overpriced and if you don't know what it is and where to find it in their store you are out of luck because the folks that work there sure as H#!! don't know.
ReplyDelete:)
DeleteWal-Mart quality; Nordstrom prices. Makes K-Mart look good.
ReplyDeleteMakes K-Mart look good.
DeleteThey are having troubles, needless ,to say.
http://www.radioshackcatalogs.com/catalogs/1970_small/
ReplyDeleteThere's what they were in 1970, electronic project kits, cables, small parts, a line of stereo and test equipment, etc. Last time I went in a Radio Shack looking for some microphone adapters I decided all my shopping would be on-line and I would just wait for the orders to come in. They didn't have anything related to the hobby side anymore and what they did have has already been described accurately in previous comments
Thanks.
DeleteI have worked in the electronics business for 30 years and they would send people to me for something, but I would tell the person where it was at in the radio shack store. like the others have said most of the stuff I needed I would get from an on line distributor, unless I needed it in a hurry
ReplyDeleteInteresting.
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