Despite Fun Super Bowl Ad, RadioShack Reports Dismal Quarterly Results, Will Close More Than 1,000 Stores. Where Will We Go to Find That Special Gizmo That Only RadioShack Seems to Carry? It's Our Non-TV Story of the Day TechCrunch
RadioShack has announced plans "to close 1,100 of its 4,000 stores in a bid to stem [financial] losses," reports TechCrunch.com.
The story adds: "The parts drawer. The RC toys. The various different types of solder and breadboards. RadioShack. It is quickly dying."
Today, March 4, 2014, "RadioShack reported a loss of $191.4 million during [the fourth quarter of 2013], compared with a year-earlier loss of $63.3 million," the story says, adding, "Revenue declined 20% to just $935.4 million."
The article also says: "The company is currently trying to rebrand itself from its former DIY self to what it calls 'Do It Together.' But RadioShack is on borrowed time.
"RadioShack has long been a retailer without a soul. About 10 years ago it turned away from the then-dead DIY scene and started hawking cell phones. As a staple in the American mall, this kept the company afloat but clearly didn’t set the stage for long-term growth."
The reports notes: "The no-name RC toys do not have a spot under this retail plan and the parts drawer is a relic of a forgotten era."
Here's the RadioShack Super Bowl commercial that was very well received last month: