Mournful annocunment on the upcoming lack of shacks.
Radio Shack has reported the closure of up to 1,100 poorly performing store locations. Of course the company has to seek confirmation and negotiation from landlords in order to take action, but so far that is the companies proposal. The stores that were open in the year of 2013 fell off in relation to the weak sales of the mobile phone business; besides they also lost up to 400 million that same year. In the previous year the company lost 139 million. Since then Radio Shack has been trying to hitch up the companies’ revenue. CEO Joseph Magnacca stated over a conference call that the company was trying to do too much to turn around the company. Despite the other troubles that the company was experiencing he also stated that the company cut some product lines to deeply and they didn’t have enough demanded products in stock. Analyst Scott Tilgham came to terms on the proposal saying that Radio Shack has to shut down its worst performing stores to stay afloat.
-Asada Nicome ( @SadaBlu )
