RadioShack to close 500 stores - KYTX CBS 19 Tyler Longview News Weather Sports

RadioShack to close 500 stores

Posted:

Reuters

U.S. electronics chain RadioShack is planning to close about 500 stores within months, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

The struggling retailer, which is due to report results for the fourth quarter later this month, said it could not comment on rumor or speculation.

RadioShack has been working with bankers from Peter J Solomon Co to boost its liquidity and with AlixPartners on its operational turnaround.

Its sales have been in free-fall amid executive departures, strong competition and an image problem. Despite its ubiquitous presence in the United States, analysts say it has not done enough to transform itself into a destination for mobile phone shoppers, nor has it become hip enough to woo younger shoppers.

Chief Executive Joe Magnacca, who took the company's helm in February 2013, has said he expected the turnaround to take several quarters.

  • Local NewsMore>>

  • Report: Air Algerie plane vanishes from radar

    Report: Air Algerie plane vanishes from radar

    Thursday, July 24 2014 7:28 AM EDT2014-07-24 11:28:48 GMT
    An Air Algerie flight from Burkina Faso to Algiers has disappeared from radar, the official Algerian news agency said Thursday.  Air navigation services lost track of the plane 50 minutes after takeoff early Thursday, last sited at 1:50 a.m. GMT (10:50p EDT), the agency said.

    More >>
    An Air Algerie flight from Burkina Faso to Algiers has disappeared from radar, the official Algerian news agency said Thursday.  Air navigation services lost track of the plane 50 minutes after takeoff early Thursday, last sited at 1:50 a.m. GMT (10:50p EDT), the agency said.


    More >>
  • In somber ceremony, Dutch welcome home first remains of MH17 victims

    In somber ceremony, Dutch welcome home first remains of MH17 victims

    Wednesday, July 23 2014 12:47 PM EDT2014-07-23 16:47:58 GMT
    CNNCNN
    (CNN) -- A lone bugler sounding the traditional military farewell "Last Post" marked the arrival Wednesday in the Netherlands of the first dead from the crash of Malaysia Airlines Flight 17.More >>
    (CNN) -- A lone bugler sounding the traditional military farewell "Last Post" marked the arrival Wednesday in the Netherlands of the first dead from the crash of Malaysia Airlines Flight 17.More >>
  • Washington family says dog reunited with Texas family belongs to them

    Washington family says dog reunited with Texas family belongs to them

    Wednesday, July 23 2014 10:25 AM EDT2014-07-23 14:25:07 GMT
    It was a joyous reunion for one family and a devastating loss for another. The Miller family of Tyler lost their beloved Maltese named Reese seven years ago. The little white dog escaped while the Millers were visiting family in Balch Springs.More >>
    It was a joyous reunion for one family and a devastating loss for another. The Miller family of Tyler lost their beloved Maltese named Reese seven years ago. The little white dog escaped while the Millers were visiting family in Balch Springs.More >>
Powered by WorldNow

CBS19, MYTX & KCEB
2211 ESE Loop 323
Tyler, TX 75701
Phone (903) 581-2211
Fax (903) 581-5769

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KYTX. All Rights Reserved. Users of this site agree to the Terms of Service, Privacy Notice/Your California Privacy Rights, and Ad Choices.