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.