RadioShack Looking at Closing 500 Retail Stores
Published on: 5th Feb 2014
By: Ian Mansfield
USA based consumer electronics retailer RadioShack is reportedly planning the closure of around 500 of its 4 300 retail stores across the country.
Citing people familiar with the matter, the Wall Street Journal reported that the closures could take place within the next few months.
However, the exact number and locations of the stores are not yet decided upon.
The closures are expected to be part of the company's overhaul of its brand image in the USA, from a rather geekish supplier of electronics into a mainstream retailer of mobile phones and gadgets to a wider audience.
A move into selling smartphones does not appear to have turned the company's fortunes around, although mobile devices will feature heavily in the new look for the stores. It is felt that selling phones in an old-fashioned retailer was never going to appeal to the consumer, but the refreshed brand could overcome that issue.
The closures mark a reversal for the company, which recently was still touting its wide retail footprint and vowing to retain at least 4,000 stores across the country.
On the web: Wall Street Journal
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