Radio Shack sales tumble 20 pct; to close up to 1,100 stores

Reuters ^ | March 4, 2014 | Dhanya Skariachan

[John W]

(Reuters) - Retailer RadioShack Corp reported a wider quarterly loss on Tuesday and said it will close up to 1,100 U.S. stores after a huge drop in sales over the holidays, sending its stock down nearly 24 percent.

The planned closures would leave the Fort Worth, Texas-based chain with over 4,000 stores, including over 900 dealer franchise locations, its chief executive officer said.

Sales totaled $935.4 million in the quarter covering the all-important holiday season, down 20.1 percent from $1.17 billion in the year-ago period. Analysts, on average, looked for sales of $1.12 billion, according to Thomson Reuters I/B/E/S.

Sales at stores open at least a year fell 19 percent in the fourth quarter on weak customer traffic.

[PaulCruz2016]

The 1980s called: they want their store back.

[Uncle Chip]

The stockholders called — they want their cash back.

[raygunfan]

overpriced products to the max

[Bobalu]

Radio Shack is toast.

Just the thought of stepping into a Radio Shack is depressing!

[Red_Devil 232]

RS screwed themselves when they switched from being an electronics store to another average cellphone centered store.

[The Duke]

“If you like your electronics store, you can KEEP your electronics store!”

[ZirconEncrustedTweezers]

I decided I didn’t need to shop at Radio Shack anymore when I went into a store and asked for a capacitor and the kid working there looked at me like I had three heads.

[varmintman]

Nonetheless, try to find any other store with the selections of little switches, connectors, clips, soldering guns and paraphernalia and what not... Anybody who isn’t a total yuppie will miss Radio Shack.

[Yorlik803]

Voted one of the worse places to work.
Last time I was in one the people seemed like they worked in a Soviet era store.
Never went back.

[Vaquero]

in the 80s you could still by components.

now it is a telephone store and a mediocre one at that.

[I cannot think of a name]

“Nonetheless, try to find any other store with the selections of little switches, connectors, clips, soldering guns and paraphernalia and what not... Anybody who isn’t a total yuppie will miss Radio Shack.”

As an electronics experimenter I can only say DITTO!

What’s bad is that we had two other private stores that carried lots of electronic equipment, ICs, and surplus stuff - and they’ve both gone away. Mail order through companies listed in “Nuts and Volts” is my main option now. Really sucks when you want something in a hurry.

[BikerJoe]

Nonetheless, try to find any other store with the selections of little switches, connectors, clips, soldering guns and paraphernalia and what not... Anybody who isn’t a total yuppie will miss Radio Shack.

One of the reasons I try to throw as much business at them as possible...although since my lab LOOKS like a Radio Shack, I guess I'm pretty well stocked up at this point.

As a backup, I find that I can get MOST of the connector/cable type stuff at my hardware store too, so they'll be a backup. I really hope our little store isn't one of them to go. We're semi-rural and it's only 2 miles away.

[edcoil]

I think Fry’s is a good source for those. Not sure in your area but also, all of Radio Shacks product offerings are available via the web.

[P-Marlowe]

Nonetheless, try to find any other store with the selections of little switches, connectors, clips, soldering guns and paraphernalia and what not... Anybody who isn’t a total yuppie will miss Radio Shack.

You can buy all that stuff on Amazon. And a hell of a lot cheaper.

[US_MilitaryRules]

I like RS. I have a couple of them nearby. Sorry some of you hate them. Oh well. Times are a changing for the worse. :(

[Bobalu]

http://www.taydaelectronics.com/

[BikerJoe]

Mail order through companies listed in “Nuts and Volts” is my main option now. Really sucks when you want something in a hurry.

Also sucks if you're not sure it's EXACTLY the connector you need...it's nice to go in with the mate and see if it's really the correct one.

...and what brick-and-mortar store has the selection of batteries. My closest Batteries Plus (and they're awesome) is 16 miles away.

[nascarnation]

I think their problem is too many locations to support the business. That small electronics business certainly seems viable, but not over 4000+ stores.

I don’t think they have garnered enough cell phone biz to make that a significant part of their company, either.

[pa_dweller]

in the 80s you could still by components.

You still can, they're just so small a part of the mix now - and the selection isn't what it used to be. They do carry Arduino stuff tho'.