RadioShack Continues Store Remodel Program
June 11, 2014
Fort Worth, Texas-based RadioShack Corp. recently announced that amidst disappointing sales and gross margin performance during first-quarter fiscal year 2015, the company plans to continue its store remodel program. The company’s new concept stores continue to drive strong sales growth, and the company has begun to execute a 100-store remodel program to scale the successful components of the format across its network. Due to challenges attributed to an industry-wide decline in consumer electronics and a soft mobility market, however, the retailer also said it plans to shutter 200 stores. The closings will be based on location, area demographics, lease life and financial performance. RadioShack's retail network currently includes approximately 4,250 company-operated stores in the United States, 258 company-operated stores in Mexico, and approximately 912 dealer and other outlets worldwide.