RadioShack to close hundreds of stores

[Roon]

FORT WORTH, Texas (AP) -- RadioShack says it plans to close up to 700 stores after reporting profits in the latest quarter dropped 62% from a year ago. It also plans to shutter distribution centers in Charleston, South Carolina and and Southhaven, Mississippi to improve its financial performance.

The consumer electronics retailer says, excluding one-time items, it earned 38 cents a share.

RadioShack blames falling sales of higher profit-margin items and says sales of wireless phones were disappointing
http://www.9news.com/acm_news.aspx?OSGNAME=KUSA&IKOBJECTID=78b2335f-0abe-421a-01c0-edb9a0e2d233&TEMPLATEID=0c76dce6-ac1f-02d8-0047-c589c01ca7bf

[havocmom]

1. Ask bushco how the economy can be healthy if retail outlets closing?

Think the CEOs will ever figure out that they sell more in times of a thriving middle class?

Nah, me neither...

[salvorhardin]

2. Wow. Talk about mixed feelings.

In a way this makes me feel sad and nostalgic because I used to work for Radio Shack in college.

...and...

In a way this makes me feel happy and vindicated because I used to work for Radio Shack in college.

[MnFats]

3. and this after the Krispy Kreme announcement!!!!

the economy is going straight to hell as far as I can see.
next, it'll be the St. Paul Ford Plant

[Wickerman]

4. Their strength was always the odd electronic gadget

Lately, I haven't been able to find the odd gadget there like I used to be able to. They kept on adding more consumer electronics and crap I could buy cheaper elsewhere and in better selction without the annoying help. Yep RadioShack blames falling sales of higher profit-margin items and says sales of wireless phones were disappointing

They caved to unrealistic shareholder expectations and over-extended themselves.

It's sad, but I guess I'll order the odd-ball stuff off the internet(s) now.

[Strelnikov_]

7. Agree. I Have Pretty Much Stopped Going There

I would generally go to pick up, like you say, the odd gadget or part (switch, resistor, patch cable, phased plasma rifle in the 30 watt range), but any more it is just mostly consumer electronics.

Maybe the CEO can get them back to their roots. An electronic parts/gadget store. Instead of the mall locations, rent space at the older strip mall down the street (low overhead).

[Webster Green]

5. I think they've lost their nitch....

Serious electronics geeks go to real electronic supply stores for parts. Radio shack used to stock a lot more components, like capacitors and resistors etc, but now only carries the most commonly used stuff.

Those interested in buying stereos and computers (and all the various support cables and adaptors etc.) go to Best Buy, Circuit City or other big box outlets.

Cell phones are purchased at the Cellular Company outlets (or big box places).

[DS1]

6. Maybe people finally caught on to the fact that everything inside

a Radio Shack is junk.

8. yes - me for one

[The_Casual_Observer]

9. Remember when they wouldn't let you buy anything unless you gave

them your name and address? Even cash purchases for 49 cents.

I wouldn't go there just because of that.

[MalachiConstant]

10. and the employees would get yelled at if they didn't

god, i don't miss that place one bit. i'd have to agree with salvorhardin on this one.

[Roon]

20. Oh, I hated that

I get my hearing aid batteries from there. I am glad they stopped asking the personal info.

[Coastie for Truth]

11. They used to have all sorts of neat Ham Radio stuff

The novice, tech, general, advanced, extra study guides.

The novice and general/advanced/extra code practice tapes and CD's.

I got my first ham radio at Radio Shack, an HTX-245.
<>

Back in the days of the Boy Scout "Ham Radio" merit badge ......


Another old friend passes away.

:cry:

[greenisin]

13. So you survived the Boy Scout hate message...

and made it here! Good for you. I could not imagine how horrible it was to be around those intolerant idiots.

[bperci108]

14. Good lord...

Let's leave the hysterical overgeneralizations to the fundies and the wingnuts, 'kay? :puke:

I was a scout and my oldest son was too; I can't seem to recall any "intolerant idiots" thereabouts.

I agree, their policies (as stated by their national office) against declared athiests and openly gay members and leaders are wrong, but they will change with time because good people who are part of the scouting movement will be there to change them.

Just like the gay marriage issue; it ain't gonna happen overnite, but it will happen. ;)

[greenisin]

18. It's not an over generalization!

How can it be when it is their stated policy? Why support an organization of hate? I don't get to visit here as often as I wish, but even I have seen some of the posts here that describe just how bad that group is. They had enough guts to put their hate in writing and stick to it even after a lot of public pressure.

[bperci108]

22. Hate?

Or merely xenophobia and ignorance?

There is a difference.

I don't think the Klan or Fred Phelps (or even the militant atheists, for that matter...) are going to change their respective positions.

But I think the BSA will.

I know quite a few people still involved in scouting at the leadership level, and little by little they, and others like them across the country, are going to be the force behind that change. It won't be overnight, nor will it be all at once, but it's going to happen.

They are not "haters"; neither are their children.

There is much hyperbole that passes for "fact" these days; even here at DU. Take care not to get caught up in it.

[slaveplanet]

12. Radio shack screwed up

They should have stuck with the hobbyist, but the main problem with that route is the internets...The final nail in the coffin. Survival may lie in going internet only for gadgets/parts and then just get a booth in the mall and sell mobile phones. Call it Phone Shack.

They tried to counter the internet threat by selling cellphone plans, and in doing so, they tied up all the cashiers during peak hours. People tire of waiting in line 10 minutes just to replace a broken rocker switch or a new tv anntenna. The whole niche of Radio shack was to be able to replace your part that day instead of waiting for mail order.

[Imalittleteapot]

15. You should see RadioShack's new corporate headquarters.

Section 8 housing residents were moved out and their apartments (projects) torn down to make way for RadioShack's Riverfront Campus on the north edge of downtown Fort Worth. Fort Worth residents were not upset that poor people were being moved to make way for a corporation, but where they were moving in --- into their neighborhoods. The plans were cemented in secrecy, further complicating the controversy. It cost the Mayor his job. He decided not to run for another term after citizens promised not to vote for him. Some of us were pleased that the underprivileged Section 8 residents were moved to lovely apartments in upper middle neighborhoods, but wonder why the city and feds didn't renovate the very old, but potentially attractive apartments. Most of the people living there depended on the bus lines to get around. Now, they are not so close to busses. Radio Shack. A deal made behind closed doors.

Back to RadioShack's new digs. It is awesome. I suspect that construction and furnishing of the headquarters made a huge dent in their profit margins. Just a thought.

[Vox_Reason]

16. I'd hate to see "the Shack" go away

I've been worried about them for years--ironically, advances in tech such as the internet have really dealt them a blow, along with big-box competition, of course. The Shack is where you go if you need a part or a battery or something; the phones and consumer electronics and stuff are extraneous.

However, I must admit to having had a "Realistic" brand integrated stereo (remember? Turntable, cassette, 8 track, tuner, came with "speakers") way back in the day.

[Blue_Tires]

17. sad to me

i have very fun memories of hanging out there as a kid in the 80s...for years, it was THE place for me to check out the latest PC games

[upi402]

19. Sad, I've been buying from them

I heard an ad for Radio Shack on Air America Radio.

[NJCher]

21. cell phone supplier change?

I wonder if this has to do with dropping Verizon? I had a student who worked for them last year and I think that's what he said they were doing.

At the time, I recall many people pointing out the move was not the brightest.




Cher

[flyarm]

23. not to worry though..the economy is buzzing along!! never been better!!

oh wait that was 5 years ago when clinton was pres!

when does the revolt begin in this country??

how many have to loose their jobs before people take to the streets??

oh i know we are too nice to do that..

fly

[Justice Is Comin]

24. Make mental note.

Must learn to speak Chinese and Arabic.