Economy
Related: About this forumRadioShack to close up to 1,100 US stores
http://gazette.com/radioshack-plans-to-close-up-to-1100-us-stores/article/feed/96053RadioShack to close up to 1,100 US stores
Associated Press Published: March 4, 2014
FORT WORTH, Texas (AP) RadioShack plans to close up to 1,100 of its underperforming stores in the U.S. and reported a wider loss for its fourth quarter as traffic slowed during the critical holiday season.
The stock tumbled more than 24 percent in Tuesday premarket trading.
The store closings would leave RadioShack with more than 4,000 stores.
For the period ended Dec. 31, the electronics retailer lost $191.4 million, or $1.90 per share. That compares with a loss of $63.3 million, or 63 cents per share, a year earlier. Excluding items, RadioShack Corp. lost $1.29 per share. Analysts expected a loss of 16 cents per share.
WhiteTara
(29,718 posts)Radio Shack says old tubes in the garage...not spiffy up to date ear buds, etc.
Demeter
(85,373 posts)BlueStreak
(8,377 posts)Radio Shack had an identity and purpose 30 years ago. They catered to the electronic and technology hobbyist. Now our society is so dumbed-down that people just sit in front of tubed and tweet. Radio Shack has become this strange Frankenstein of a shop that is about 3/4 bad cell phone store and 1/3 poorly stocked electronics store. They don't do anything well now.
I was in a RS twice this week buying some audio connectors. Both times I had to wait 10 minutes at checkout because the store's two employees were trying to sell phones to customers. Who buys phones at Radio Shack anyway?
It isn't going to help to close stores. They have lost their way. They need to decide if they are a phone store that is half as good as the telecomm phone stores or Best Buy. Or are they an appliance store that only has 1/10 as much stock as Wal*Mart? Or can they go back to their roots, which is the technology enthusiast?
I'm not sure there is a business model that will work for them. But I know operating tiny stores that don't do anything well isn't the answer.
dixiegrrrrl
(60,010 posts)them and Best Buy...always felt shoddy and lacking life, years ago and now.