April 4, 2006 > Radio Shack to close four East Bay stores
Radio Shack to close four East Bay stores
FORT WORTH, March 24_As part of their turnaround, home electronics retailer Radio Shack has announced that four East Bay stores will be among the 400-700 company-operated stores it will close nationwide.
Radio Shack named stores in Alameda, Newark, Hayward and Richmond that will close. Elsewhere in the Bay Area, stores in San Jose and Marin will close as well. It expects the stores to be closed by August.
The company will replace old, slower-moving merchandise with new, faster-moving merchandise within higher growth categories. Radio Shack will concentrate its efforts and investment on improving top-performing stores in order to deliver a great customer experience. In addition, the company intends to better align overhead costs with its business model which will help generate more profit per square foot. Lastly, the company will continue to expand its kiosk business and aggressively relocate Radio Shack stores to better real estate.
Radio Shack Corp. (NYSE: RSH) has 122 stores in the Bay Area and 5,000 nationwide.
The closures follow a fourth-quarter earnings drop of 62 percent.
Source: Radio Shack Pressroom, East Bay Business Times