RadioShack today said it plans to close as many as 200 more stores as its turn-around efforts stall. In March, the company announced it would close 1,100 stores by the end of the year. The closures combined will leave RadioShack with about 3,800 stores operating in the U.S. The company blamed its woes on poor sales of smartphones. RadioShack is in the process of updating both its image and its sales strategy with a focus on electronic entertainment devices. It sells devices from AT&T, Sprint, and Verizon Wireless.
"In March, the company said it would close as many as 1,100 of its more than 4,000 shops, but its lenders limited the closures to just 200 stores. RadioShack (RSH) will focus instead of remodeling some of its existing properties and rebranding."
There are few places as conveniently located as Radio Shack that carry DIY electronics. I still remember when there were electronics stores the size of Best Buy with every capcitor, resistor, and IC you could think of.
Maybe Radio Shack should stop trying to compete in the crowded cellphone space and get back to the basics. They could expand beyond electronics and become the one-stop shop for enthusiasts. Maybe something like Radio Shack, Fry's, Hobby Lobby, and Michael's all rolled into one. They should try to set themselves apart by becoming DIY paradise, imho.
It sounds good and I used to think they just needed to change the brick and mortar experience but that's always a black hole, they spend millions on store remodels that don't really affect the bottom line at all beyond the bump. This is just the loss... (continues)
Their stuff is way overpriced. I went to a store in Connecticut a couple weeks ago to buy a network patch cable. $30 for a 7' cable -- ridiculous. I mentioned to the salesperson that seemed kind of pricey, left, and bought a 9' network patch cable for $12 at the Walmart located in the same mini-mall.
They're not relevant anymore -- unfortunate to think that all those people will be out of a job though :-(
Eh, retail jobs are at a high right now (in my state, anyway) and radioshack usually provides a good light in the industry, they arent known gfor having terrible employees like other electronics stores
they arent closing down because of poor smartphone sales, they are closing down because of the growing market in the internet especially regarding the stuff they sell...why should I spend 200+ on an antenna at RS when i can buy the same one online for 125 with free shipping? GG radioshack, GG
Well since they make more profit on one fully qual'd activation than they do on everything else they sell that day, phone sales are definitely the reason they are failing. Although that comes back to poor management and not properly training your sal... (continues)