RadioSchack to close up to 700 stores

[Gregg Lengling]

The collective fates of 52 RadioSchack stores in southeastern Wisconsin are hanging in the balance of the parent company's restructuring plans. Fort Worth, Texas-based RadioShack Corp. today reported a 62 percent drop in fourth-quarter net income and announced that it may need to close up to 700 stores.

The dismal quarter and restructuring comes in the wake of the company's chief executive officer, David Edmondson, admitting he lied on his resume about his academic record. The company is investigating the matter. During today's investor call, Edmondson apologized for any embarrassment he brought to the company.

The company told investors strong sales in items such as digital cameras, satellite radios and portable DVD players were not enough to offset weak sales of in wireless and high-margin items such as batteries and radio-controlled toys.

As part of its restructuring, RadioShack will replace old, slower-moving merchandise with new, faster- moving merchandise within higher-growth categories. The company also plans to expand its kiosk business.

[Talos4]

That doesn't surprise me at all.

I stopped shopping there when they started the "Name brand" (RCA) program.  

They shifted away from being a store to buy "parts" (resistors, IC's, speaker drivers, all sorts of connectors) etc.  Now these items are relegated to a single display in the back of the store.

The Coups De Grace for me was it's "monsterization"

[bradsmainsite]

Not to mention the fact that a lot of their accessories were grossly overpriced!

[CrashCamomilli]

they still remain one of the few local sources for a descent selection of small electronic components

I have built many prototype circuits using components only from radio shack

tis a sad day for me  

[SVD]

They always want to know my zip code too.

[jdolsen1]

The people who work there are so irritating too.  Every time I check out they go through their checklist of items to push:

1. Sirius
2. Cell Phone Plan
3. Batteries

Today I returned an overpriced cable I had previously bought and bought some other stuff that I needed.  The tool of a manager (who hasn't showered since February) handed me my items and made me put them into my crumpled up bag myself.  

I don't like to see them close, but with the morons they have working there combined with their ridiculous sales practices and high prices, it isn't surprising.

[Gregg Lengling]

Radio Shacks tag line:

      YOU'VE GOT QUESTIONS?
                     WE'VE GOT STUPID LOOKS ON OUR FACES AND WOULD YOU LIKE
                     A CELL PHONE WITH THAT. :confused:

[Talos4]

I was asked once about a cell phone plan.

I said I was happy with my company paid Nextel plan.

"Well we now offer Sprint, would you consider changing plans?" :bang:

[jdolsen1]

Radio Shacks tag line:

      YOU'VE GOT QUESTIONS?
                     WE'VE GOT STUPID LOOKS ON OUR FACES AND WOULD YOU LIKE
                     A CELL PHONE WITH THAT. :confused:

Amen to that, amen to that.

I don't have any problem with geeks, but the geeks who work at RS are by far the worst.  It takes a special kind of geek to be both a geek and a personable person to work in retail.  Unfortunately they haven't found that right mix at RS.