Skip to main content
  1. News
  2. Top News

Radio Shack closing stores: One fifth of United States locations being shuttered

See also

Radio Shack is about to shutter 1,100 stores in the United States. That's about one fifth of all the locations of these electronics stores in this nation. This move comes after the chain's stock dropped by 16 percent.

On March 4, the Associated Press via MSN reported that other reasons for the closures include lower than expected sales during the winter holidays and a more extensive quarterly loss than had been anticipated.

CNN claims that 900 of the stores to be closed are operated as franchise locations. Radio Shack, which has arguably one of the largest retailer footprints in the United States, boasts the fact that some 99 percent of the nation's population either works or lives "within minutes of a Radio Shack location."

Joseph Magnacca, Radio Shack chief operating officer, said there are currently some 5,200 Radio Shack outlets. He claimed the closings would leave the company with more than 4,000 outposts in the United States..

By way of comparison, those 4,000 locations equal about the same number of locations claimed by Wal-Mart and the number for Radio Shack outposts far surpassing the number of Best Buy outlets operating in the country in 2014.

And so, as Radio Shack starts closing stores one fifth of its United States locations, this change starts a new chapter regarding the highly regarded stores where the majority of American baby boomers bought their first computers from the enterprise in the early 1980s.

Radio Shack opened its first store in 1921 in the heart of downtown Boston.

Advertisement

News

  • Gaza conflict
    Israel official: Ceasefire and expanding Gaza conflict are both being discussed
    Video
    Video
  • Air Algerie crash
    Conflicting reports about the Air Algerie disappearance begin to emerge
    Top News
  • Arizona execution
    A Senator familiar with torture denounces Joseph Wood's botched execution as such
    US News
  • Ray Rice suspended
    Ravens' running back Ray Rice is suspended for two games for a domestic violence arrest
    Sports
  • Amazon tribe falls ill
    An Amazonian tribe catches influenza after making first contact with the developed world
    Headlines
  • CIA prison in Poland
    Poland is declared guilty of human rights violations for hosting a secret CIA prison
    Video
    Video

Related Videos: