Struggling electronics retailer Radio Shack announced Tuesday it would shut down roughly 20% of its locations in the U.S.—roughly 1,100 stores—due to the company’s poor performance. The announcement comes as Radio Shack announced its dismal fourth quarter earnings, which the company blames on its poor mobile phone business, despite all attempts to update Radio Shack’s outdated image (per the video below).
Radio Shack, which has experienced difficulty keeping up with online retailers like Amazon, did not specify which physical stores would close or how many jobs would be affected by the move, but the store closures will be based on financial performance, lease duration, location and area demographics.
Lead image courtesy of Wikimedia Commons
