Radio Shack
CEO has resigned amid questions of whether he graduated college or not. This could not have come at a better time for the Rat Shack considering that their low earnings are forcing the closure of 700 stores nation wide. Now this is not a huge problem for me, however for some people who live in areas where the only part source is the Radio Shack this may be devastating. To all of us this can also spell out
Huge Sale Look Out! Now if someone finds the list of closing stores please forward that to me stat! Otherwise just go into a store and ask the employees if they are going to be laid off and watch for reactions.
Radio Shack CEO has resigned amid questions of whether he graduated college or not. This could not have come at a better time for the Rat Shack considering that their low earnings are forcing the closure of 700 stores nation wide. Now this is not a huge problem for me, however for some people who live in areas where the only part source is the Radio Shack this may be devastating. To all of us this can also spell out Huge Sale Look Out! Now if someone finds the list of closing stores please forward that to me stat! Otherwise just go into a store and ask the employees if they are going to be laid off and watch for reactions.
11 Comments:
At 2/21/2006 01:20:53 PM, Alan Swenson said…
i work at radioshack and this is not as big a problem as the media makes it seem, radioshack opened 2000 new stores in the last two years and is closing and/or relocating from 400-700 stores. we just over extended ourselves. there are over 7000 radioshacks. in my area 2 are relocating and none are closing. the media has blown this company restructuring out of proportion.
At 2/21/2006 01:23:31 PM, Alan Swenson said…
also, there will be no closing sales whatsoever, they will just send the products to stores that are doing better sales. and the closings list is set to be released no earlier than 8 weeks from now.
At 2/21/2006 01:55:23 PM, Master said…
Well first of all I want to apologize for contributing to the media hype. Leave it to the AP press and the blogoshpere to blow things out of proportion.
Second I really think that it would be in their best interest to liquidate the inventory instead of moving it, its just silly to ship it, inventory it, and pay someone to stock it at the new store. ( Now I am talking small things here, not TVs and high ticket items. )
Also I think that the closing statistics should include new stores opening up. After all I imagine that they came from the headquarters directly.
At 2/21/2006 01:56:22 PM, Master said…
Thanks for the inside scoop and if you get the list in 8 weeks please forward that on. Keep on bending and reading.
At 2/21/2006 02:47:35 PM, Alan Swenson said…
well, chances are as in our case the stores that are moving is all because there is another store in a newer shopping center that took its business, so we only have to move merch as little as one block in some cases where i live and there is a radioshack within 5 miles of 95% of US households (Stat-straight from radioshack meetins), so i would say 10 miles is about as far as it gets to transfer merch.
At 2/22/2006 03:37:29 AM, dach said…
Wow I didn't realise there are so many stores.. you guys are lucky, the first electronic components vendor is about to open in my city next month, population 120,000. Up to now I've had to deal with mail orders and several days wait for components.
Oh, there is one store that has LEDs, thats about it. USA sounds great for just getting parts, and ebaying. That sucks over here too (sweden).
At 2/22/2006 01:28:04 PM, Anonymous said…
Wow I didn't realise there are so many stores.. you guys are lucky
well, realize also that Radio Shack doesn't stock the same level of parts in all stores - one might have a really well-stocked set of parts cabinets, and four others might have one anemic little corner with a lot of empty drawers.
I have 5 or 6 within easy driving of my house, and only one of them has a decent parts cabinet - and even then, you can't always get what you need without buying a big bag of mixed parts - like a certain value of resistor, they might only have that in thier "500 Resistor" grab bag, so instead of paying $1 for 5 resistors, you are paying $13 for 5 you need, and 495 you don't....
At 2/23/2006 06:55:05 PM, DG said…
I scored some various HCT4's 4042BE's chips for 48 cents a piece at my local radioshack! go me!
At 2/23/2006 10:40:53 PM, Anonymous said…
I guess selling rc cards and peddling cell phones isn't profitable enough. Personally Radio Shack has disappointed me. I recall a day when one could just walk into a store and find an SN76477N chip, or a reverb kit, or the couple of hundred other cool things that used to be Radio Shack.
At 2/25/2006 09:22:28 AM, Anonymous said…
inside scoop. they are about to remove all parts to ONLINE ONLY. I work for the big red "R" AND I have to special order parts for customers anyway!
At 4/09/2006 11:49:43 PM, Anonymous said…
I work at at a RS that IS closing and YES there are plans to have a liquidation sale. As a matter of fact I am having an inventory in 2 weeks to give the liquidators a inventory of what my store has in it.
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