RadioShack To Close 20% Of Stores

I suppose you can pull a line from Charles Dickens’ “A Tale of Two Cities”, where “it was the best of times, and it was the worst of times”, and apply it to the current economic climate around the world. While the economy might be recovering in certain countries, it does feel as though there is an underlying current that might just cause everything to collapse just like that. Companies like HTC have had it rough going for quite some time now, and it seems that struggling RadioShack will have to shutter one fifth of its stores after reporting a loss of $191.4 million in the fourth quarter of last year, which was worse than what analysts had expected.

RadioShack announced that they would close approximately 1,100 of its stores in the U.S., especially after the weak holiday results ended up in significant losses. This is not something new, as RadioShack has been struggling for the past few years already to revive its flagging fortunes. For the entire 2013, RadioShack actually reported a loss of $400 million, which is a whole lot more than the $139 million that they bled in 2012. After closing one fifth of its stores, there will still be 4,000 stores hanging around, where it would also include franchises.

Edwin Kee
Categories: Computers
Tags: radioshack