Content about RadioShack Corp.

March 4, 2014

RadioShack Corp. said it plans to close up to 1,100 stores, approximately one-fifth of its total, and also announced a disappointing holiday season and a wider quarterly loss.

Fort Worth, Texas -- RadioShack Corp. said it plans to close up to 1,100 stores, approximately one-fifth of its total, and also announced a disappointing holiday season and a wider quarterly loss. The shutterings will leave the chain, whose turnaround appears to be still far off, with over 4,000 locations, including more than 900 dealer franchise locations.

February 4, 2014

RadioShack Corp. will close about 500 stores within months as part of its ongoing restructuring, the Wall Street Journal reported.

New York -- RadioShack Corp. will close about 500 stores within months as part of its ongoing restructuring, the Wall Street Journal reported on Tuesday. The retailer, which is due to report results for the fourth quarter later this month, has about 4,500 locations.

October 30, 2013

RadioShack Corp. has opened a new concept store in Detroit, and another in Philadelphia.

Fort Worth, Texas – RadioShack Corp. has opened a new concept store in Detroit, and another in Philadelphia. All new concept stores in the company's portfolio feature an upgraded shopping experience, which showcases the company's new look, and incorporates interactive areas designed to help shoppers improve their technology profile.

October 22, 2013

RadioShack Corporation reported 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.

Fort Worth, Texas - RadioShack Corporation reported 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. The company also named Paul Rutenis, formerly senior VP, general merchandising manager for the home division of J.C. Penney Company, as its new chief merchant.

October 4, 2013

RadioShack Corporation is reportedly planning to raise funds before the end of this year to gain the confidence of suppliers in its turnaround effort.

Fort Worth, Texas – RadioShack Corporation is reportedly planning to raise funds before the end of this year to gain the confidence of suppliers in its turnaround effort. According to Bloomberg, RadioShack currently has enough liquidity to operate through 2014 but intends to raise additional cash through financing.

September 18, 2013

Staples and RadioShack Corp. have removed Amazon lockers from their stores, according to Bloomberg. The chains were among a group of retailers who have been testing the system.

New York -- Staples and RadioShack Corp. have removed Amazon lockers from their stores, according to Bloomberg. The chains were among a group of retailers who have been testing the system.

According to the report, Staples ended the partnership with Amazon because it didn’t meet the criteria the two companies set up, while RadioShack said the program did not fit with its strategy.

 

August 27, 2013

It could be a smaller-store footprint. Or a design makeover. Or a totally new format. But there comes a time when even the largest and most successful retailers need to freshen up or rethink their store identities. Here's a look at four brands that are trying on new looks.

July 23, 2013

RadioShack Corp. reported a second-quarter loss that was bigger than analysts expected. However, revenue beat expectations, with the first increase in same-store sales since 2010, and the chain announced it was bringing on consultants to help with its turnaround.

Fort Worth, Texas - RadioShack Corp. on Tuesday reported a second-quarter loss that was bigger than analysts expected. However, revenue beat expectations, with the first increase in same-store sales since 2010, and the chain announced it was bringing on consultants to help with its turnaround.

July 12, 2013

RadioShack Corp. released a statement in which it said that its balance sheet continues to be strong, with total liquidity of $820 million at the end of the first quarter.

Fort Worth, Texas -- RadioShack Corp. on Friday released a statement in which it said that its balance sheet continues to be strong, with total liquidity of $820 million at the end of the first quarter. The chain released the statement the day after a report said the retailer was considering hiring a financial adviser.

July 5, 2013

RadioShack Corp. has announced the appointment of Merianne Roth to the new post of VP – communications.

Fort Worth, Texas -- RadioShack Corp. has announced the appointment of Merianne Roth to the new post of VP – communications. She will manage the company’s corporate communications, community relations, internal communications and event marketing.

Roth comes to RadioShack from the Fort Worth Convention and Visitors Bureau, where she served as VP, marketing and communications. Her experience includes marketing and communications posts with J.C. Penney and Pier 1 Imports.

 

July 3, 2013

RadioShack Corporation has opened the first of the next generation of stores scheduled to roll out across the country and around the world over the next several months.

New York -- RadioShack Corporation has opened the first of the next generation of stores scheduled to roll out across the country and around the world over the next several months.

July 2, 2013

RadioShack Corp. unveiled its new concept store, opening a location on the Upper West Side of Manhattan.

New York -- RadioShack Corp. unveiled its new concept store, opening a location on the Upper West Side of Manhattan. The store showcases an updated brand logo and a number of features that will be part of a new generation of RadioShack stores that will be rolled out in locations throughout the United States and internationally over the next several months. The new concept is part of a wider initiative by new CEO Joseph C. Magnacca, who took the reins in February, to turn around the ailing chain.
   

June 4, 2013

RadioShack Corp. has promoted Marty Amschler to senior VP of franchise.

Fort Worth, Texas – RadioShack Corp. has promoted Marty Amschler to senior VP of franchise.

Amschler, who has been with RadioShack since 2009, will continue overseeing dealer franchise operations and also provide senior leadership to the company's commercial sales division and B2B sales team. He has close to 40 years of retail executive experience and previously held sales and franchise positions at companies including Kinney Shoe Corporation, The Athlete's Foot and NexCen Brands.

May 10, 2013

A former store manager is suing RadioShack Corp. with claims the chain has been failing to pay overtime wages for the past three years.

Fort Worth -- A former store manager is suing RadioShack Corp. with claims the chain has been failing to pay overtime wages for the past three years. Bloomberg reports that David Verderame filed suit in Philadelphia seeking at least $5.8 million in unpaid overtime wages for all Pennsylvania RadioShack employees. On Thursday, RadioShack had the suit moved to U.S. District Court due to the size of the alleged damages.

April 23, 2013
RadioShack Corp. on Tuesday reported a bigger-than-expected first quarter loss on weak sales of wireless phone contracts.

Fort Worth, Texas -- RadioShack Corp. on Tuesday reported a bigger-than-expected first quarter loss on weak sales of wireless phone contracts. The company also reported that it is updating its brand and will begin remodeling select locations with a new look and feel over the next few weeks.

Joseph C. Magnacca, a former Walgreens executive who became CEO of RadioShack in February, remarked on the initial priorities and initiatives underway. Last week, he named a new chief marketing officer and a new SVP store concepts.

April 18, 2013

RadioShack Corp. formally announced that it has named two new leaders to its senior management team.

Fort Worth, Texas -- RadioShack Corp. formally announced that it has named two new leaders to its senior management team. Michael DeFazio has been named SVP – store concepts, and Jennifer Warren has been named SVP and chief marketing officer.

February 26, 2013

RadioShack Corp. reported a greater-than-expected net loss of $63.3 million in the fourth quarter ended Dec. 31, compared with a profit of $11.9 million a year earlier.

Fort Worth, Texas -- RadioShack Corp. reported a greater-than-expected net loss of $63.3 million in the fourth quarter ended Dec. 31, compared with a profit of $11.9 million a year earlier.

Total sales edged down to $1.3 billion compared to $1.39 billion last year. Comparable-store sales fell 7%, hurt by a decline in the performance of its postpaid wireless business.
 

January 14, 2013

RadioShack Corp. announced that it is ending its relationship with Target, where it helps operate Target Mobile in 1,500 Target stores, effective April 8.

Fort Worth, Texas -- RadioShack Corp. announced that it is ending its relationship with Target, where it helps operate Target Mobile in 1,500 Target stores, effective April 8.

The RadioShack and Target partnership provided RadioShack access to manage Target's post-paid mobility business. But RadioShack did not manage the prepaid mobility business or the wider range of accessories offered in Target stores.

October 23, 2012

RadioShack Corp. reported a wider-than-expected loss of $47 million for the quarter ended Sept. 30, compared with a profit of $300,000 for the same period last year.

Fort Worth, Texas -- RadioShack Corp. reported Tuesday a wider-than-expected loss of $47 million for the quarter ended Sept. 30, compared with a profit of $300,000 for the same period last year. Sales dropped from $1.03 billion to $1.0 billion and same-store sales dropped 1.6%.

September 26, 2012

RadioShack Corp. said CEO James Gooch has agreed to step down from his position, effective immediately.

Fort Worth, Texas -- RadioShack Corp. said CEO James Gooch has agreed to step down from his position, effective immediately. The company did not specify a reason for his departure. Gooch was appointed CEO in 2011 and has been working to boost stagnant sales.

RadioShack said its board is conducting a search for a successor and would not rule out internal candidates. In the interim, executive VP and CFO Dorvin Lively will serve as the acting CEO.

September 6, 2012

IBM announced at its Smarter Commerce Global Summit that RadioShack Corp. is working with IBM's cloud-based solutions to improve price image and pricing operations over the entire pricing lifecycle.

Orlando, Fla. -- IBM announced Thursday at its Smarter Commerce Global Summit that RadioShack Corp. is working with IBM's cloud-based solutions to improve price image and pricing operations over the entire pricing lifecycle.

The solutions being used by RadioShack are part of IBM's cloud-based merchandising analytics software and services, which help companies define the optimal price points and product mix based on customer buying trends.

July 25, 2012

RadioShack Corp. reported its worst quarter since 1996, posting a loss of $21 million in the second quarter compared with a profit of $24.9 million in the same quarter last year.

Fort Worth, Texas -- RadioShack Corp. reported Wednesday its worst quarter since 1996, posting a loss of $21 million in the second quarter compared with a profit of $24.9 million in the same quarter last year.

Sales inched up 1.2% to $953.2 million in the quarter, missing Wall Street’s forecasted $970.4 million in revenue, and same-store sales were flat.

April 24, 2012

RadioShack Corp. reported a loss for the first quarter of $8 million, hurt by weakness in its Sprint postpaid wireless business and weak demand for prepaid wireless handsets, laptops and home entertainment accessories.

New York -- RadioShack Corp. on Tuesday reported a loss for the first quarter of $8 million, hurt by weakness in its Sprint postpaid wireless business and weak demand for prepaid wireless handsets, laptops and home entertainment accessories.

The electronics retailer said its net loss for the quarter ended March 31, 2012, was $8 million compared with net income of $35.1 million a year earlier.

Sales fell 0.9% to $1.01 billion, while analysts had expected $1.06 billion.

April 6, 2012

RadioShack Corp. said it has selected Grey New York as its lead advertising agency of record, concluding a review process that first launched last November.

Fort Worth, Texas -- RadioShack Corp. said Thursday it has selected Grey New York as its lead advertising agency of record, concluding a review process that first launched last November.

"We're thrilled for the opportunity to collaborate with this team as we continue transforming our brand, with a sharp focus on building consumer awareness of our wireless offering and driving traffic into our stores," said Jim Gooch, president and CEO of RadioShack Corp.

March 22, 2012

RadioShack Corp. said it has made an agreement with Malaysian retail group Berjaya Retail Berhad that will expand RadioShack's global footprint across 10 Southeast Asian countries.

Fort Worth, Texas -- RadioShack Corp. said Thursday it has made an agreement with Malaysian retail group Berjaya Retail Berhad that will expand RadioShack's global footprint across 10 Southeast Asian countries.

Under the long-term agreement, Berjaya Retail (Cayman) Limited as franchise developer is expected to open at least 1,000 franchise locations across the Association of Southeast Asia Nations within the first 10 years. Its subsidiary in Malaysia, Berjaya RS Sdn. Bhd., expects to open its first RadioShack locations later this year in Kuala Lumpur.