• November 26, 2015

RadioShack to close 1,100 stores

Font Size:
Default font size
Larger font size

Posted: Tuesday, March 4, 2014 6:22 pm

RadioShack announced Tuesday it will close up to 1,100 stores after the Fort Worth-based company experienced poor performance during the holiday season.

“Our fourth-quarter financial results were driven by a holiday season characterized by lower store traffic, intense promotional activity, particularly in consumer electronics, a very soft mobility marketplace and a few operational issues,” said RadioShack CEO Joseph C. Magnacca in a news release.

Central Texas has five RadioShack stores between Temple and Copperas Cove, with two in Killeen. Several others are in the Austin and Waco areas.

The company hasn’t determined which stores will close, but location, area demographics, lease life and financial performance will all be factors, Magnacca said.

“We are not releasing a store closing list at this time,” said Maggie Thill, a public relations representative. “However, RadioShack will maintain market coverage as part of this plan.”

After the stores close, the company will have more than 4,000 stores and 900 franchise sites. That is far more than Best Buy, which has about 1,400 U.S. locations.

The announcement represents the latest setback for RadioShack, which is working to rebrand itself as a specialist in wireless devices and accessories.

“Even in this environment, we’re continuing to make progress on the five pillars of our turnaround plan: repositioning the brand, revamping the product assortment, reinvigorating the stores, operational efficiency and financial flexibility,” Magnacca said in the news release.

The Associated Press contributed to this story.

More about

More about

More about

Rules of Conduct

  • 1 Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
  • 2 Don't Threaten or Abuse. Threats of harming another person will not be tolerated. AND PLEASE TURN OFF CAPS LOCK.
  • 3 Be Truthful. Don't knowingly lie about anyone or anything.
  • 4 Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
  • 5 Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
  • 6 Share with Us. We'd love to hear eyewitness accounts, the history behind an article.

Welcome to the discussion.