RadioShack Corp. (Fort Worth, Texas) has announced plans to close up to 1100 stores in the U.S. The move, following a difficult holiday season, would still leave the consumer electronics retailer with more than 4000 stores in the U.S.
According to the Associated Press, The company didn't immediately identify which stores will be closed or how many jobs would be affected. The company did say that the targeted stores are being selected based on location, area demographics, lease duration and financial performance.
Radio Shack has been on a tear to slash costs, shuffle management and build its brand marketing. It even had an effective Super Bowl ad last month – featuring 1980s characters like Alf, Hulk Hogan and Teen Wolf – that poked fun at its outdated image.
The ad received positive reactions. Nonetheless, Sales same-stores sales sank 19 percent during the last quarter of 2013.