Wed February 5, 2014
RadioShack Plans To Close 500 Stores
STEVE INSKEEP, HOST:
NPR's business news starts with the restructuring of the Shack.
(SOUNDBITE OF MUSIC)
INSKEEP: RadioShack, that is. The company scored big with its Super Bowl commercial - the '80s themed ad that's being called one of the night's best. But that did not help the company's bottom line. RadioShack stock prices plummeted yesterday after news it plans to close 500 stores across the nation.
The Wall Street Journal reports the store closings will come within a few months, trimming about 11 percent of RadioShack's store base in the United States. Transcript provided by NPR, Copyright NPR.