RadioShack closing up to 1,100 stores
If you’re the type of person who purchases their smartphones from RadioShack you may need to consider a backup solution. The retailer has just announced that up to 1,100 “underperforming” stores will be closed as part of a restructuring. Once complete, it will leave roughly 4,000+ stores and 900 dealer franchises spread across the country.
Over the past few months, we have undertaken a comprehensive review of our portfolio from many angles – location, area demographics, lease life and financial performance – in order to consolidate our store base into fewer locations while maintaining a strong presence in each market.
Citing, among other things, slowed foot traffic and less than desirable smartphone sales, RadioShack will slice off approximately 1/5 of its retail presence. On a more positive note, the company does strong growth in its Concept Stores, adding they have been encouraged by the feedback on the new brand positioning.
As of now, customers can purchase Verizon, AT&T, and Sprint smartphones through RadioShack.