RadioShack set to close 500 stores nationwide

[w2xq]

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http://media.radioshackcorporation....2236&p=irol-newsArticle&ID=1905712&highlight= has the gory 4Q details. $RSH closed at $2.26; day low $2.19.

 

[bee]

Read in the newspaper today, that Radio Shack would close as many as 1100 stores in the U.S. This would leave them with about 4,000, stores in the U.S.

 

[902]

I agree. Don't expect to see a "Store Closing. Inventory Reduction Sale" sign in your favorite RadioShack store's window. Corporate really doesn't want their customers' last impression of RadioShack to come from someone who knows he's losing his job in a few weeks.

My guess is the stores will be closed and store employees will be terminated as quickly as possible. Then the inventory will turned over to a liquidator.

Ya know, as far as inventory, the district managers might allow the remaining store managers to option inventory from the closing stores into theirs. This could be a loss reduction strategy, particularly for higher-dollar items. I had to ride the wave at one place until the very last day because my bonus was dependent upon staying. It was a complicated feeling. People more or less forgot that the sale and divestiture of the business unit was happening (the sale was announced in February, but didn't happen until July). Then, as it got closer, there was an "I don't care..." and some maudlin reminiscing. In the end, I drove their company car home on a Friday and wasn't allowed to touch it after 5 PM. The new company (which I was not an employee of) sent a tow truck over to get it out of my driveway. I suppose not knowing the end would have gotten a higher productivity curve, but would have increased workplace worry and paranoia (i.e., "Are WE gonna close?!"). Freaky times.

 

[iamhere300]

Buggy Whips. Some people still use them, but I think there should be thousands of stores nationwide where i can just drop in and get the latest technology in Buggy Whips.

Then I will open a chain of Loran - C reciever stores. In every area, you have the RIGHT to go into the Loran - C store and get a reciever.

Finally, there will be a kiosk in every mall, Every one. Custom auto cranks for crank starting your car.

Things change people. Technology changes. Availability changes. The Internet is what has brought the great downfall to so many retail outlets, but it has raised great opportunities for companies like Amazon, or Shampoo for dogs with allergies or dry, itchy skin.. So many companies from little to big.

I love what Gateway electronics used to be, but I realize that it was not sustainable.

Maker Faire? IT IS FOR NERDS! Yes, someday us Nerds may take over the world, but we will still be NERDS. Scanner listening? HAM Radio? Wake up people, we are social misfits. We are NERDS. We are the dictionary defination of a "Niche Market".

Don't believe me? Look around at your next Hamfest. You are surrounded by NERDS. You may think you are the only normal one, but look in a mirror.

We are a Niche market, don't expect the world to revolve around us with their marketing.

 

[W9NES]

Radio Shack is closing 1100 stores nationwide .This was on the tv during the morning network news Weds 3/5/14

 

[LIScanner101]

Buggy Whips. Some people still use them, but I think there should be thousands of stores nationwide where i can just drop in and get the latest technology in Buggy Whips.

Then I will open a chain of Loran - C reciever stores. In every area, you have the RIGHT to go into the Loran - C store and get a reciever.

Finally, there will be a kiosk in every mall, Every one. Custom auto cranks for crank starting your car.

Things change people. Technology changes. Availability changes. The Internet is what has brought the great downfall to so many retail outlets, but it has raised great opportunities for companies like Amazon, or Shampoo for dogs with allergies or dry, itchy skin.. So many companies from little to big.

I love what Gateway electronics used to be, but I realize that it was not sustainable.

Maker Faire? IT IS FOR NERDS! Yes, someday us Nerds may take over the world, but we will still be NERDS. Scanner listening? HAM Radio? Wake up people, we are social misfits. We are NERDS. We are the dictionary defination of a "Niche Market".

Don't believe me? Look around at your next Hamfest. You are surrounded by NERDS. You may think you are the only normal one, but look in a mirror.

We are a Niche market, don't expect the world to revolve around us with their marketing.

Wow! I could have written the last three paragraphs word for word. Truer words have never been "spoken". Bravo sir.

I would bet anyone a million dollars that I could walk door to door in my own neigherbood and ask the occupants what a scanner was, and nobody would know.

 

[Cunnerman]

I would bet anyone a million dollars that I could walk door to door in my own neigherbood and ask the occupants what a scanner was, and nobody would know.

They would say, "It's the thing that sit by their computer and prints out documents and can also make copies."

That's the response I get whenever I mention a scanner.

 

[MTS2000des]

And while many working class people will no doubt be on the unemployment rolls, and getting SNAP benefits trying to feed their kids, the turdface CEO gets a $500,000 retention bonus:

As RadioShack Closes Stores, CEO To Get $500K Retention Bonus

Gotta love corporate America's priorities! About the same as those welfare queens swelling up the welfare rolls popping out kids, buying iPhones and flat screen televisions while not paying rent and refusing to work.

They both have something in common: they are freeloading vagabond scum.

The working class get screwed again. Any wonder why Radio Shack is circling the drain with leadership like this?

 

[iamhere300]

And while many working class people will no doubt be on the unemployment rolls, and getting SNAP benefits trying to feed their kids, the turdface CEO gets a $500,000 retention bonus:

As RadioShack Closes Stores, CEO To Get $500K Retention Bonus

Gotta love corporate America's priorities! About the same as those welfare queens swelling up the welfare rolls popping out kids, buying iPhones and flat screen televisions while not paying rent and refusing to work.

They both have something in common: they are freeloading vagabond scum.

The working class get screwed again. Any wonder why Radio Shack is circling the drain with leadership like this?

LOL.. In the corporate world, 500K is a pittance. I don't think it would keep that many people off welfare for long.

 

[bberns22]

Somebody better sound the collision alarm this is going down fast and hard hope Whistler does not get sucked in.

David Kb7uns

The demise of RS probably may very well mean a short lived attempt at the re-birth of the GRE scanner business by Whisler. 78% of GRE sales came thru RS - don't see how Whisler makes that up thru AES, Universal Radio, HRO etc.. those are not mainstream consumer stores - I hope they are thinking ahead -- Amazon, Best Buy (also in trouble), maybe Newegg, Walmart. It wont be easy.

 

[bberns22]

And while many working class people will no doubt be on the unemployment rolls, and getting SNAP benefits trying to feed their kids, the turdface CEO gets a $500,000 retention bonus:

As RadioShack Closes Stores, CEO To Get $500K Retention Bonus

Gotta love corporate America's priorities! About the same as those welfare queens swelling up the welfare rolls popping out kids, buying iPhones and flat screen televisions while not paying rent and refusing to work.

They both have something in common: they are freeloading vagabond scum.

The working class get screwed again. Any wonder why Radio Shack is circling the drain with leadership like this?

I work for a large corporation (300,000+ employees) and everyone 2 levels down from the ceo make's more than $500k. $500k is not CEO retention money.

 

[rapidcharger]

I work for a large corporation (300,000+ employees) and everyone 2 levels down from the ceo make's more than $500k. $500k is not CEO retention money.

The difference, I assume, is that you work for a company that is profitable and making enough money to overpay your executives for all that they do whereas Radio Shack's executives are bleeding the company dry and running it into the ground. You have to sell an awful lot of cell phone cases to net $500k. Trim the fat starting at the top.

 

[zz0468]

...Wake up people, we are social misfits. We are NERDS. We are the dictionary defination of a "Niche Market".

Don't believe me? Look around at your next Hamfest. You are surrounded by NERDS. You may think you are the only normal one, but look in a mirror

I don't need to look in a mirror. I know what I am. But this nerd has a 6 figure income, and a bunch of it gets spent on electronic parts. I know a lot of other nerds with 6 figure incomes. It may be a niche market, but there IS a market.

I'm lucky enough to live in an area where there are lots of electronic parts stores. There are 3 really good ones within a 20 mile radius, and a few more that would knock your socks off within an hours drive. And you know what's neat about them? When I go there, they always seem to be busy.

 

[ipfd320]

Was at my Radio Shack today-got the last discone antenna-Not a Scanner in Site and the Parts Bins were almost empty-1 cb radio was there but a high price,I asked him if his Store was on the Chop Block and he Said No-His lease was just Renewed for 10 Yrs-And Its a Busy Store-LOL Not 1 Person Came in for the 1/2 Hour i was there--gave me a Real Good laugh-i asked him if he is getting more scanners and parts in and he told me to go to the website and order what i need-So of Course i said to him dont you want customers to come in instead of waiting 2 weeks from the internet--well of course he was stumped at that question

No matter what Radio Shack will never open their eyes to accomidate the tinkerers and radio hobbiest---its all about the cells and tablets

and they wonder why stores r bellying up

 

[AK9R]

I had a RadioShack experience yesterday.

I needed some parts for a last-minute project, so I drove to the RS store that's about 3 miles from my house. Walked in the store and a moderately attractive 20-something female at the counter asked if she could help me. I say I'm looking for chassis-mount phone jacks. The "deer in the headlights" look was what I expected. But, she recovered quickly and led me to the part of the store where they have audio/visual and network jacks in wall plates. As I told her that wasn't what I was looking for, I realized I was standing next to the cabinet with the little parts drawers. I told her I thought they'd be in there, so I opened the drawer marked "audio visual connectors" and found one of the types I wanted. Had a little trouble finding the other type on my list, but she stuck with me and actually pulled open another drawer that had the other type.

I told her that was all I needed, so we went to the counter to ring up the sale. That's when I read "Assistant Manager" on her name tag. I asked if she knew anything about store closings. She said I was about the 30th person to ask her about that. She said that store was the largest one in the district and it had just been remodeled in RadioShack's new style. I'll admit the store did look a little different. I didn't notice any scanners or CB radios, that wasn't what I was looking for. I did notice that as I walked in, cell phone accessories were on one side of the store and tablet/laptop accessories were on the other. The only other person in the store was another clerk who was going through some inventory. Admittedly, it was around 6pm on a Saturday evening when most people around here are looking for a restaurant and not an electronics store.

She didn't offer to sell me any batteries, cell phones, extended warranties, motorized stuffed animals, or anything else. She rang up the sale and I went on my way. The store had what I needed. Can't fault them for that...for now.

 

[rapidcharger]

I had a RadioShack experience yesterday.

I needed some parts for a last-minute project, so I drove to the RS store that's about 3 miles from my house. Walked in the store and a moderately attractive 20-something female at the counter asked if she could help me. I say I'm looking for chassis-mount phone jacks. The "deer in the headlights" look was what I expected. But, she recovered quickly and led me to the part of the store where they have audio/visual and network jacks in wall plates. As I told her that wasn't what I was looking for, I realized I was standing next to the cabinet with the little parts drawers. I told her I thought they'd be in there, so I opened the drawer marked "audio visual connectors" and found one of the types I wanted. Had a little trouble finding the other type on my list, but she stuck with me and actually pulled open another drawer that had the other type.

I told her that was all I needed, so we went to the counter to ring up the sale. That's when I read "Assistant Manager" on her name tag. I asked if she knew anything about store closings. She said I was about the 30th person to ask her about that. She said that store was the largest one in the district and it had just been remodeled in RadioShack's new style. I'll admit the store did look a little different. I didn't notice any scanners or CB radios, that wasn't what I was looking for. I did notice that as I walked in, cell phone accessories were on one side of the store and tablet/laptop accessories were on the other. The only other person in the store was another clerk who was going through some inventory. Admittedly, it was around 6pm on a Saturday evening when most people around here are looking for a restaurant and not an electronics store.

She didn't offer to sell me any batteries, cell phones, extended warranties, motorized stuffed animals, or anything else. She rang up the sale and I went on my way. The store had what I needed. Can't fault them for that...for now.

If you don't mind me asking, How much was the total bill and how much time did you spend in the store total and how much of that time was spent with the person who helped you?

 

[AK9R]

Total bill, about $7. I was in the store probably 10 minutes and the assistant manager was with me the whole time. I have been in that store in the past when the clerks made initial contact and then left me alone to dig through the parts drawers myself. This assistant manager hung in there.

BTW, it's not necessary to quote the whole post. Especially when it's just above your post.

 

[VE5JL]

This is the sign of the times and it will only get worse before it gets…. Well…. Worse. Eventually Radio Shack (and others) will either close or merge to one big box pick up location for your online purchases. People no longer build or fix, so you don’t need a parts store, just toss out the junk and buy some new junk. It’s over folks, get used to it.

 

[jeatock]

"The Eighties called. They want their store back." Looks like they're taking it, too.


Lets face facts here folks. RS is hemorrhaging cash. The obvious business decision is to be profitable by closing unprofitable stores and discontinuing unprofitable products. Its called capitalism. I wish them well and hope that they are successful in whatever in whatever niche they settle in. Unfortnuately it looks like their selected niche is already crowded. That said, the malls are full of interchangeable stores profitably selling $150 designer blue jeans even though I buy my Carharts from Farm and Ranch.

I am not going to loose any sleep over it, nor look back. The real loss to many of us is the convenience of running to the Shack in an emergency to (hopefully) grab an overpriced guzinta that we know they have in the back of drawer five (don't bother asking the kid at the counter to find it for you).

I will just have to plan ahead a little better. All of the guzintas and components they sell (sold) can be had for less money and probably better quality from Internet sources, provided you don't need it right now.

... unless you have Amazon drone delivery.


PS: "guzinta" (noun), the thingamabod that "goes in to" the doowhicky. Antonym of "sticksouta".

 

[rapidcharger]

Total bill, about $7. I was in the store probably 10 min

And since you knew what your parts looked like you were probably quicker than most. Not surprising they want to get away from that stuff. Small tickets, very time intensive. They can sell those parts online and make the customer do all the work, even check themselves out and free up space for $150/pair blue jeans