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Radio Shack sales tumble 20 pct; to close up to 1,100 stores
Reuters ^ | March 4, 2014 | Dhanya Skariachan

Posted on 03/04/2014 6:37:03 AM PST by John W

(Reuters) - Retailer RadioShack Corp reported a wider quarterly loss on Tuesday and said it will close up to 1,100 U.S. stores after a huge drop in sales over the holidays, sending its stock down nearly 24 percent.

The planned closures would leave the Fort Worth, Texas-based chain with over 4,000 stores, including over 900 dealer franchise locations, its chief executive officer said.

Sales totaled $935.4 million in the quarter covering the all-important holiday season, down 20.1 percent from $1.17 billion in the year-ago period. Analysts, on average, looked for sales of $1.12 billion, according to Thomson Reuters I/B/E/S.

Sales at stores open at least a year fell 19 percent in the fourth quarter on weak customer traffic.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: bhoeconomy; electronics; g42; radioshack
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1 posted on 03/04/2014 6:37:03 AM PST by John W
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To: John W

The 1980s called: they want their store back.


2 posted on 03/04/2014 6:38:18 AM PST by PaulCruz2016
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To: John W

The stockholders called — they want their cash back.


3 posted on 03/04/2014 6:40:36 AM PST by Uncle Chip
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overpriced products to the max


4 posted on 03/04/2014 6:42:35 AM PST by raygunfan
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To: John W

Radio Shack is toast.

Just the thought of stepping into a Radio Shack is depressing!


5 posted on 03/04/2014 6:43:25 AM PST by Bobalu (Happiness is a fast ISR)
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To: John W

RS screwed themselves when they switched from being an electronics store to another average cellphone centered store.


6 posted on 03/04/2014 6:43:57 AM PST by Red_Devil 232 ((VietVet - USMC All Ready On The Right? All Ready On The Left? All Ready On The Firing Line!))
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To: Uncle Chip

“If you like your electronics store, you can KEEP your electronics store!”


7 posted on 03/04/2014 6:44:05 AM PST by The Duke ("Forgiveness is between them and God, it's my job to arrange the meeting.")
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To: John W

I decided I didn’t need to shop at Radio Shack anymore when I went into a store and asked for a capacitor and the kid working there looked at me like I had three heads.


8 posted on 03/04/2014 6:44:25 AM PST by ZirconEncrustedTweezers (I'm not anti-government, government's anti-me.)
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To: raygunfan

Nonetheless, try to find any other store with the selections of little switches, connectors, clips, soldering guns and paraphernalia and what not... Anybody who isn’t a total yuppie will miss Radio Shack.


9 posted on 03/04/2014 6:45:15 AM PST by varmintman
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To: John W

Voted one of the worse places to work.
Last time I was in one the people seemed like they worked in a Soviet era store.
Never went back.


10 posted on 03/04/2014 6:45:30 AM PST by Yorlik803 ( Church/Caboose in 2016)
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To: PaulCruz2016

in the 80s you could still by components.

now it is a telephone store and a mediocre one at that.


11 posted on 03/04/2014 6:46:56 AM PST by Vaquero (Don't pick a fight with an old guy. If he is too old to fight, he'll just kill you.s)
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To: varmintman

“Nonetheless, try to find any other store with the selections of little switches, connectors, clips, soldering guns and paraphernalia and what not... Anybody who isn’t a total yuppie will miss Radio Shack.”

As an electronics experimenter I can only say DITTO!

What’s bad is that we had two other private stores that carried lots of electronic equipment, ICs, and surplus stuff - and they’ve both gone away. Mail order through companies listed in “Nuts and Volts” is my main option now. Really sucks when you want something in a hurry.


12 posted on 03/04/2014 6:49:51 AM PST by I cannot think of a name
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To: varmintman
Nonetheless, try to find any other store with the selections of little switches, connectors, clips, soldering guns and paraphernalia and what not... Anybody who isn’t a total yuppie will miss Radio Shack.

One of the reasons I try to throw as much business at them as possible...although since my lab LOOKS like a Radio Shack, I guess I'm pretty well stocked up at this point.

As a backup, I find that I can get MOST of the connector/cable type stuff at my hardware store too, so they'll be a backup. I really hope our little store isn't one of them to go. We're semi-rural and it's only 2 miles away.
13 posted on 03/04/2014 6:50:49 AM PST by BikerJoe
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To: varmintman

I think Fry’s is a good source for those. Not sure in your area but also, all of Radio Shacks product offerings are available via the web.


14 posted on 03/04/2014 6:51:16 AM PST by edcoil (Realism is only a socially accepted form of pessimism)
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To: varmintman
Nonetheless, try to find any other store with the selections of little switches, connectors, clips, soldering guns and paraphernalia and what not... Anybody who isn’t a total yuppie will miss Radio Shack.

You can buy all that stuff on Amazon. And a hell of a lot cheaper.

15 posted on 03/04/2014 6:51:32 AM PST by P-Marlowe (There can be no Victory without a fight and no battle without wounds)
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To: John W

I like RS. I have a couple of them nearby. Sorry some of you hate them. Oh well. Times are a changing for the worse. :(


16 posted on 03/04/2014 6:54:37 AM PST by US_MilitaryRules (Tastes like Heaven, Burns like Hell! Mmmmmm. What is it?)
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To: I cannot think of a name

http://www.taydaelectronics.com/


17 posted on 03/04/2014 6:54:50 AM PST by Bobalu (Happiness is a fast ISR)
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To: I cannot think of a name
Mail order through companies listed in “Nuts and Volts” is my main option now. Really sucks when you want something in a hurry.

Also sucks if you're not sure it's EXACTLY the connector you need...it's nice to go in with the mate and see if it's really the correct one.

...and what brick-and-mortar store has the selection of batteries. My closest Batteries Plus (and they're awesome) is 16 miles away.
18 posted on 03/04/2014 6:55:05 AM PST by BikerJoe
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To: BikerJoe

I think their problem is too many locations to support the business. That small electronics business certainly seems viable, but not over 4000+ stores.

I don’t think they have garnered enough cell phone biz to make that a significant part of their company, either.


19 posted on 03/04/2014 6:55:32 AM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: Vaquero
in the 80s you could still by components.

You still can, they're just so small a part of the mix now - and the selection isn't what it used to be. They do carry Arduino stuff tho'.

20 posted on 03/04/2014 6:55:51 AM PST by pa_dweller (Extremist tea-party-driven hostage-taking legislative arsonist without a life)
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To: John W
Sales at stores open at least a year fell 19 percent in the fourth quarter on weak customer traffic.

What do they sell that I would want that I could not get cheaper somewhere else?

Maybe the execs at that Company should ask themselves that question. I'm betting that the execs at Radio Shack themselves haven't bought anything in the last 10 years that Radio Shack sells.

21 posted on 03/04/2014 6:56:13 AM PST by P-Marlowe (There can be no Victory without a fight and no battle without wounds)
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To: I cannot think of a name

Fry’s has 10 times the components at lower prices. Radio shack is gone.


22 posted on 03/04/2014 6:56:45 AM PST by ecomcon
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To: Red_Devil 232

That and their employees are exclusively idiots and jerks.


23 posted on 03/04/2014 6:58:04 AM PST by Ray76 (How modern liberals think: http://www.youtube.com/watch?v=eaE98w1KZ-c)
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To: US_MilitaryRules
I like RS. I have a couple of them nearby.

That is one of the problems.

24 posted on 03/04/2014 6:59:22 AM PST by P-Marlowe (There can be no Victory without a fight and no battle without wounds)
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To: ecomcon

We have a Fry’s here in Indiana.
I looked them up on Wiki and was surprised they have only 34 retail locations, most in Tx and Ca.


25 posted on 03/04/2014 6:59:40 AM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: John W

Cellphone Shack. They stopped being a goto (pun intended)electronics and radio store years ago.


26 posted on 03/04/2014 7:01:06 AM PST by CodeToad (Keeping whites from talking about blacks is verbal segregation!)
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To: John W

I haven’t been in a Radio Shack in at least 8 years. The employees at that time were useless and it was easier to get what I needed (not a cell phone contract) online.


27 posted on 03/04/2014 7:01:07 AM PST by RightGeek (FUBO and the donkey you rode in on)
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To: P-Marlowe

Usually when I need stuff like that, I need it on the same day...


28 posted on 03/04/2014 7:02:30 AM PST by varmintman
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To: ecomcon
Fry’s has 10 times the components at lower prices. Radio shack is gone.

And you have to drive 20 miles to get to one. When you drive 20 miles to get to a store, chances are you are going to spend some money.

Closing the stores is only one of Radio Shack's remedies. The other is finding a niche' that isn't already dominated by some other company (like Fry's).

If Radio Shack had any vision at all, there would never have been a need for a Frys'.

Fry's filled the niche that Radio Shack left open. Radio Shack reduced their selection and grew their stores. Fry's increased their selections and they keep their stores down to a minimum.

29 posted on 03/04/2014 7:03:43 AM PST by P-Marlowe (There can be no Victory without a fight and no battle without wounds)
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To: varmintman
Usually when you need stuff that day, Radio Shack doesn't have it in stock and you have to wait a week.

With Amazon Prime you get free shipping and get it within 2 days. And in urban areas they deliver on Sunday.

30 posted on 03/04/2014 7:05:22 AM PST by P-Marlowe (There can be no Victory without a fight and no battle without wounds)
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To: Revolting cat!
No more free batteries?


31 posted on 03/04/2014 7:09:13 AM PST by a fool in paradise (The Texas judge's decision was to pave the way for same sex divorce for two Massachusetts women.)
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To: Yorlik803

“Never went back.”

Which is what most consumers do when they are dissatified with an establishment, myself included. And management usually doesn’t recognize anything is wrong with the way their outfit is doing business until it shows up in the gross sales numbers.

That’s why ‘management by walking around’ is the best way to stay on top of the business.


32 posted on 03/04/2014 7:09:58 AM PST by Paulie (Buy local, bank local, exert your influence locally; the left will fold like a cheap suit.)
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To: P-Marlowe

Radio Shack sells vibrators now. Seriously.

Maybe the corporate leadership should go **** themselves.


33 posted on 03/04/2014 7:11:22 AM PST by a fool in paradise (The Texas judge's decision was to pave the way for same sex divorce for two Massachusetts women.)
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To: John W

They still exist?


34 posted on 03/04/2014 7:16:00 AM PST by hecht (america 9/11, Israel 24/7)
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To: John W

I go into our local store when I need some odd electronic connector or component. I’d never buy a regular “consumer” product in there and much of their stuff is way over priced.

Pre-ebay and easy internet ordering they had a purpose. I get far more now from Jameco, Digikey, Mouser and ebay than I ever will from “The Shack.”


35 posted on 03/04/2014 7:17:37 AM PST by NewHampshireDuo
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To: John W

honestly, I am shocked they have lasted this long. They carry nothing but overpriced junk.

The only thing I really ever need from them is a small spare part every few years


36 posted on 03/04/2014 7:19:01 AM PST by TexasFreeper2009 (Obama lied .. the economy died.)
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To: varmintman

partsdirect.com, free catalog, almost overnight shipping.


37 posted on 03/04/2014 7:24:10 AM PST by printhead (Standard & Poor - Poor is the new standard.)
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To: ZirconEncrustedTweezers

“I decided I didn’t need to shop at Radio Shack anymore when I went into a store and asked for a capacitor and the kid working there looked at me like I had three heads.”

Yeah, I remember when you could get most of the parts to actually build an electronic gizmo. I spent a lot of money on cables, connectors, antennas, etc. I think I even got a couple of scanners and frequency counters there, maybe a DTMF decoder, too.


38 posted on 03/04/2014 7:32:10 AM PST by PLMerite
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To: pa_dweller
They do carry Arduino stuff tho'.

That's weird. I first heard of Arduino just last night, and here you are mentioning them on FR.

39 posted on 03/04/2014 7:46:57 AM PST by Jeff Chandler (Obamacare: You can't make an omelette without breaking a few eggs.)
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To: a fool in paradise

40 posted on 03/04/2014 7:49:14 AM PST by Jeff Chandler (Obamacare: You can't make an omelette without breaking a few eggs.)
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To: P-Marlowe; All
I get my stuff here:

Jameco Electronics

and here:

Mouser Electronics

41 posted on 03/04/2014 8:32:32 AM PST by Timber Rattler (Just say NO! to RINOS and the GOP-E)
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To: John W

RadioShack is going the way Heath Kit did because most people are to stupid to build anything electronic they rather play with a cell phone.


42 posted on 03/04/2014 8:42:39 AM PST by Vaduz
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To: ADemocratNoMore; advertising guy; aft_lizard; AJMaXx; Alice in Wonderland; american colleen; ...

Pinging the list, (as a FYI).


43 posted on 03/04/2014 9:33:18 AM PST by Las Vegas Dave (The democRATic party preys on the ignorant..!)
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To: Jeff Chandler; pa_dweller

If you’re interested in Arduino, you might look into Raspberry Pi as well. A buddy uses them together, Arduino for controls, the Pi for UI.


44 posted on 03/04/2014 9:47:29 AM PST by FreedomPoster (Islam delenda est)
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To: ZirconEncrustedTweezers

I learned two decades ago about their parts. If I wanted a reliable part I went to Allied or Newark. If I wanted a factory second with a defect (the factory didn’t want to put their name on), go to Radio Shack.


45 posted on 03/04/2014 10:39:50 AM PST by George from New England (escaped CT in 2006, now living north of Tampa)
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To: FreedomPoster

Watch out on the Raspberry pi. Got a few and they all have nothing but usb port issues.


46 posted on 03/04/2014 10:41:53 AM PST by George from New England (escaped CT in 2006, now living north of Tampa)
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To: RightGeek

I haven’t been in a Radio Shack in at least 8 years. The employees at that time were useless and it was easier to get what I needed (not a cell phone contract) online.

<><><><

Way back in the day (I worked at the shack in the early 80s) you might have found someone who knew their way around electronics, but not much. They wanted salespeople skilled at addon sales. Where the money is.

We had stock answers to the 2 most asked questions:

Does the xyz component work with this abc doohickey?

YES.

How does this xyz component work?

It’s FM.

The second letter stands for magic. Use your imagination for what the first letter is a placeholder for.

And this was back in the most early 80s.


47 posted on 03/04/2014 12:07:35 PM PST by dmz
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To: Vaquero

They do have parts but yes it is more cellphone and tv and other gadgets now then when I use to go back in the 70’s....
http://www.radioshack.com/category/index.jsp?categoryId=2032230


48 posted on 03/04/2014 12:18:45 PM PST by minnesota_bound
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To: FreedomPoster
If you’re interested in Arduino, you might look into Raspberry Pi as well. A buddy uses them together, Arduino for controls, the Pi for UI.

It sounds like fun, but I am awash in devices. I have:

W8 laptop
W7 laptop
Mint laptop
W7 desktop
Android phone
Android tablet
2 XP desktops just removed from service

49 posted on 03/04/2014 12:22:43 PM PST by Jeff Chandler (Obamacare: You can't make an omelette without breaking a few eggs.)
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To: P-Marlowe
If Radio Shack had any vision at all, there would never have been a need for a Frys'

Exactly. They thought selling consumer electronics was going to be easy. Remember their computers? Not so much.

50 posted on 03/04/2014 1:52:08 PM PST by ecomcon
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