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RadioShack enjoys Super Bowl success, but will close 500 stores

RadioShack is restructuring and will close 500 U.S. retail stores.

Published Wed, Feb 5 2014 7:07 PM CST   |   Updated Sat, Aug 8 2020 10:29 AM CDT

RadioShack created a popular Super Bowl ad in which its stores were being taken apart and rebuilt, and just a few days later, the company announced that the company will close around 500 retail stores. RadioShack has struggled with executive fallout, increased competition, and a glaring image problem that leads shoppers to choose online e-tailers or other local brick and mortar stores.

RadioShack enjoys Super Bowl success, but will close 500 stores | TweakTown.com

RadioShack currently has 4,300 retail stores, and it's still unsure which specific stores will be closed. The company is expected to shutter the struggling stores over the next few months, with analysts unsure if that will still be enough.

RadioShack CEO Joe Magnacca, who was given reigns to the struggling company in February 2013, expects additional reshuffling will be necessary before trying to turn around the company. Moving forward, RadioShack still wants its image to evolve from a traditional electronics store more towards a popular location for consumers to purchase headphones, smartphones, and other consumer electronics.

NEWS SOURCE:online.wsj.com

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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