RadioShack to close 700 stores. Is Calexico one of them?

elchrist

RadioShack to close up to 700 stores
Source: Reuters

RadioShack Corp., whose chief executive has admitted to lying on his resume, on Friday said quarterly profit fell 62 percent after a switch in wireless providers led to an inventory write-down, sending its shares to a nearly three-year low.

The consumer electronics retailer, which said it was hiring legal counsel to investigate the admission by CEO David Edmondson, also announced a new turnaround plan that includes closing 400 to 700 company-operated stores and liquidating slow-moving inventory.

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So where did RadioShack really go wrong? Is it their unknowledgeable staff, sub-par products or having Shaq rename the company name to RadioShaq?

There's 7,000 RadioShack stores and with up to 10% of their shops closing up, it's possible that the location in Calexico might fall victim. Although the Calexico location could in fact be one of their highest grossing locations, but then again I don't exactly shop there.

Does anyone here?

locoinclx · Posted: 17 Feb 2006 02:29 PM Post subject:

eventhough, im pretty sure that they are gong to base their stores closing on their revenues. I think calexico should be safe. Not like a lot of the radio shacks here in la that are like 3 miles away from each other... but who knows..