RadioShack to Close 500 StoresThe Wall Street Journal reports that RadioShack Corp. is planning to close 500 stores over the new few months. The company has a total of 4,500 stores. The locations of the stores to be closed are not yet known.
RadioShack recently introduced a sleeker store format. The funny RadioShack Super Bowl ad showcases the layout of the new generation of RadioShack stores.
It was a good commercial that should get people excited about the new store design. RadioShack has decided it won't need quite so many stores going forward. The WSJ story quotes RadioShack Chief Executive Joe Magnacca from a November 2013 interview where he said, "we're a 4,000-plus network." If they close 500 stores, RadioShack will be right around the 4,000 store mark.
Posted on February 4, 2014