Radio Shack Closings
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Ohio Closings
Radio Shack closing 5 stores
Part of retailer's shift in inventory focus
By Stephanie Irwin
Dayton Daily News
DAYTON | RadioShack Corp. will shutter five area stores as part of the home electronics retailer's plan to close 480 stores nationwide, the company said Friday.
Stores in Fairborn, Huber Heights, Moraine, Beavercreek and Springfield will be closing by August. There are 26 company-owned stores in the greater Dayton market.
The closures are part of a turnaround plan that includes getting out of its slow-moving, old-line cables and antennas business to open more room for technology such as i-Pods and Bluetooth.
"We can't keep that stuff on the shelves," said Jessica Study, spokeswoman for the company. "This is a key initiative to divest ourselves of underperforming stores and inventory."
The old-line products — cables, connectors, antenna — will still be available online, she said.
RadioShack revealed last month it would be closing between 400 and 700 company-owned stores after it saw fourth-quarter net income drop 62 percent compared with the previous year.
The 480 store closings will cost the Fort Worth, Texas-based company between $50 million and $90 million this year.
Radio Shack has about 5,000 company-owned stores and 2,000 dealer-operated stores.
A nationwide Ultimate Clearance Event unrelated to the store closures kicks off April 2 to help clear out the staid merchandise, Study said. Separate going-out-of-business sales at the closing stores will start in May and the stores should by empty by Aug. 1.
Local Radio Shack employees will be offered jobs at other local stores, and a very small number will be offered severance packages, Study
Radio Shack closing 5 stores
Part of retailer's shift in inventory focus
By Stephanie Irwin
Dayton Daily News
DAYTON | RadioShack Corp. will shutter five area stores as part of the home electronics retailer's plan to close 480 stores nationwide, the company said Friday.
Stores in Fairborn, Huber Heights, Moraine, Beavercreek and Springfield will be closing by August. There are 26 company-owned stores in the greater Dayton market.
The closures are part of a turnaround plan that includes getting out of its slow-moving, old-line cables and antennas business to open more room for technology such as i-Pods and Bluetooth.
"We can't keep that stuff on the shelves," said Jessica Study, spokeswoman for the company. "This is a key initiative to divest ourselves of underperforming stores and inventory."
The old-line products — cables, connectors, antenna — will still be available online, she said.
RadioShack revealed last month it would be closing between 400 and 700 company-owned stores after it saw fourth-quarter net income drop 62 percent compared with the previous year.
The 480 store closings will cost the Fort Worth, Texas-based company between $50 million and $90 million this year.
Radio Shack has about 5,000 company-owned stores and 2,000 dealer-operated stores.
A nationwide Ultimate Clearance Event unrelated to the store closures kicks off April 2 to help clear out the staid merchandise, Study said. Separate going-out-of-business sales at the closing stores will start in May and the stores should by empty by Aug. 1.
Local Radio Shack employees will be offered jobs at other local stores, and a very small number will be offered severance packages, Study
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