A 19% fourth quarter same store sales decline and a steep decline in profitability prompted RadioShack to announce the closure of 1,100 stores while CEO Joseph Magnacca maintained the retailer’s brand equity remains strong and a profitability plan is in place.
RadioShack has announced the retirement of Thomas G. Plaskett from the company's board of directors. Plaskett had served on the RadioShack board since 1986, and was a member of the audit and compliance committee as well as the corporate governance committee.
Isis, a mobile commerce joint venture created by AT&T Mobility, T-Mobile USA and Verizon Wireless, has unveiled its upgraded Isis Mobile Wallet, which allows customers to pay at contactless payment terminals directly from their smartphones.
RadioShack posted a net loss of $112 million during the third quarter of fiscal 2013, compared to a net loss of $47 million in the year-ago period. It was the retailer’s seventh straight quarter posting a net loss.
Leading consumer products company Helen of Troy saw solid growth in all its business segments during the second quarter, which led to record sales of its stable of well known brands, but stagnant profits.
RadioShack unveiled a store remodeled to its new high-touch format, in Manhattan, with an additional Big Apple location set to open on Oct. 12. The format incorporates interactive areas designed to help shoppers improve their technology profile. The chain premiered the design in July, on Manhattan’s Upper West Side.
Heading into the 2013 holiday season, NPD is forecasting that full year consumer electronics sales will rise by 9%. According to NPD’s 2013 Household Penetration Study, nearly 72% of consumers expect to buy a consumer electronics product in the next 12 months.
RadioShack has unveiled a new “low touch” concept store format at the Manhattan Mall in New York and at Plaza Las Americas in Hato Rey, Puerto Rico, and plans to open another in downtown Fort Worth in October.
Same store sales increased 1.3% at RadioShack during the second quarter, but clearance driven sales activity took a toll on profitability and the retailer enlisted the services of several turnaround firms.
RadioShack’s has unveiled its first branded section of a college bookstore at the University Co-op at the University of Texas at Austin, as part of the retailer’s five-year agreement with NACSCORP, along with a new logo.
A journey of 1,000 miles begins with a single step and RadioShack’s quest to makes its 4,300 U.S. stores relevant again began this week with the opening of a new prototype and a re-imagined corporate logo.
RadioShack has partnered with Maker Media, the creators of Make Magazine, Makezine.com, and Maker Faire, to tap into the DIY market. Maker Media and RadioShack will collaborate on an expansive DIY product lineup.