RadioShack Plans To Close Seven San Antonio Stores

Biz Journals:

The Fort Worth-based electronics retailer announced last month that it was working on a turnaround plan to boost lagging profits — which plummeted 62 percent in the fourth quarter. This is typically one of the company’s busiest quarters. However, the company suffered from weak holiday sales. RadioShack (NYSE: RSH) said at the time the company would consider closing between 400 and 700 stores. RadioShack has 40 company-owned stores in the San Antonio area. The plan only affects company-owned sites, not dealer-franchise stores.

Company spokeswoman Wendy Dominguez says RadioShack will begin notifying store customers in May about the impending closures and begin special sales. Store employees will also alert customers to locations of other nearby stores.

“We expect the stores to be out of inventory by Aug. 1,” Dominguez says.