On Tuesday, Radio Shack announced that it would be closing 1,100 of its stores — nearly 20 percent of the company’s locations. During the last quarter, which included the normally busy Christmas-shopping season, Radio Shack sales fell 19 percent while net losses reportedly tripled. There are 20 Radio Shack stores in the Philadelphia area, but it remains unclear which of them will be affected.
This is a big business story, especially because Radio Shack has more stores in this country than almost any retailer (Walmart has 3,700 and Radio Shack competitor BestBuy has 1,400), and no doubt some pundits and prognosticators are going to chalk this up to a sluggish economy. But the real cause for Radio Shack closing 1,110 stores is none other than Radio Shack, which is quite simply and without hyperbole the worst retail shopping experience that exists on planet Earth. Read more »