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Radioshack to Close 500 Stores in Coming Months

papasteves02 1,313 February 4, 2014 at 06:56 PM More The Wall Street Journal Deals
The Wall Street Journal reports [] that RadioShack plans to close around 500 of its stores in the next several months, which is around 11% of their stores. The news comes on the heels of its nostalgic Super Bowl ad, featuring popular icons of the 80s and 90s like Hulk Hogan, Erik Estrada of CHiPs fame, and the California Raisins. The ad was well-received [] and even helped boost the stock for a day.

In the past, Radioshack was a viable alternative to big box retailers like Best Buy and Circuit City, when looking for electronics and accessories. Its smaller footprint model enabled RadioShack to open more stores where big box retailers couldn't access as easily. In more recent years, it's attempted to make a push into the smartphone market.

As online shopping continues to grow, Radioshack hasn't been able to match the competitive pricing of pure play etailers like Amazon and Newegg, or its brick and mortar competitors like Best Buy. When comparing Frontpage deals on site in 2013, we see Radioshack has 20 compared to several thousand from Amazon in the same timeframe.

When's the last time you purchased something from Radioshack, either online or in store?
[Source: The Wall Street Journal [] via The Verge []]

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The one across the street from me just closed down leaving only five stores within five miles.
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Bought from radioshack twice in the last couple months. This is sad.
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bought 2 specialty batteries from Radio Shack in the last 10 years. I can't believe they have survived that long.
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Quote from sidb1 View Post :
The one across the street from me just closed down leaving only five stores within five miles.
Lol well at least they will step on each others toes a little less now.
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Quote from sidb1 View Post :
The one across the street from me just closed down leaving only five stores within five miles.

This is exactly the problem with these stores. When did these companies decide they can saturate markets and still make money?!?

I live near Manhattan, and every other block has a Chase ATM. The alternating blocks have BoA ATMs. How does this make any sense? Do you not think people will walk 5 blocks to find the nearest Chase ATM, that you need to dump them everywhere. Has to be a losing proposition but a combination of what they believe to be marketing, brand building, and whatever else compels them to do this. Now the big banks have money to burn since they rape and pillage the common man, but this model can't work in today's landscape for retailers like radio shack. It's like a rinse/repeat cycle. In boom times, these businesses just don't think properly, and expand uncontrollably. And then when the end comes, it is that same expansion that is their demise. No one ever learns anything...
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Quote from p00hdiddy View Post :
Do you not think people will walk 5 blocks to find the nearest Chase ATM,
Well you and me are here on slickdeals -- but I know a lot of my friends and people that are less about trying to get the best deal just go to whatever ATM is closest. If someone is willing to go to an out-of-network ATM because it is the closest one then Chase/BOA do make more money because they make a $3-4 fee off each transaction those people make. Combine that multiplied however many times people do it... with how much of that money would go to their compitition if someone else's ATM was there instead.... I don't think it's a good comparison.

An ATM is something that (mostly) everyone needs to go to. RadioShack isn't somewhere you need to go to, because they don't have things people just "browse" for - they don't really have movies/dvds/games/etc... they have very specific products and they have phones. So most of the time before you walk into a RadioShack you know what you need. And if you know what you need, you probably knew before you left your house. So unless RadioShack is actually convenient for you, you might just order on Amazon or another online site.

If RadioShack really wants to survive what they need to do is get more unplanned-sales, people walking by just deciding to go in and buy something -- and in order to get that they need to have something else other than phones (like movies, like video games, something...) that people can see and buy on a whim. Sorry but people aren't going to walk in and be like OH YEAH I FORGOT I need that weird battery, or some cable, or an antenna, or a RC Monster truck.....

I appreciate RadioShack but times have changed, they need to do something to keep up, and they aren't doing it yet.
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It's a shame they are closing so many stores - we do go there for specialty items we know they have that others do not. When hubby wants something specific he will say let's go to Radio Shack I know they carry it. We have I think 3 or 4 within local distance to us.
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I say good ridance to Radio Shack. I bought a cellphone with them about a year ago since it was on sale about $40. cheaper than anywhere else and they duped me into paying an extra $65. for an extended warranty that was suppose to cover anything that happened to the phone. Well my phone started messing up last month not charging correctly, sometimes charged, sometimes didn't, and they took my phone and sent it off for repair. A week later they called me to pick up my phone unrepaired. They told me I needed to mail it in to a repair center, which I did. The service center returned my phone a week later unrepaired claiming water damage and that it was accidental damage not covered by my warranty. I've never gotten my phone wet, but they didn't want to hear that. When I bought the warranty they told me it would cover anything that happened to the phone whether it was accidental or not. Apparently not true. The manager offered to give me a $50. gift card to use to buy a new phone with them to try to make it right. What a retard, that doesn't even cover what I paid for the worthless warranty. And he thinks I would want to buy another phone and warranty with them. I'm going somewhere else. They won't get anymore of my money. Radio Shack has outlived its usefulness. If anyone out there still wants to buy stuff from them all I can say is beware of their so called warranties that suppose to cover anything that happens.
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I think they still suffer from image problem. They used to be an electronics store for geeks. They used to sell all matters of electronics stuff for the hobbyist and they still do, but not as much anymore. I think when they started selling mobile phones they should have just gone all out and just trashed all the other unpopular stuff like transformers, circuit boards, voltage meters, and the like.
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worshipDarn! I love RS. $25 free GC's
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I guess the 80s really did want their store back
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so are the stores that are closing throwing everything on clearance?
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Sadly I use to get all of my cables from Radio Shack when I needed it ASAP but I found out the Home Depot across the street carried those cables at a cheaper price. That right I said Home Depot not Office Depot.
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Victim of the times. I worked there from 90-'92. They were good with DIY, unique products (like police scanners, rc toys, and roof antennas), and underselling the Japanese brands of the time like Sony.

Pretty much all I mentioned is obsolete or a commodity. And as mentioned above, in the old days anyone getting an extended warranty would have immediately gone home with a new phone, no questions asked.
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