Recovery Summer 2014 Begins: Radio Shack to Close 1,100 Store; Staples to Close 225 Stores (unemployed, Obama)
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RadioShack said Tuesday that it plans to close up to 1,100 stores, or about a fifth of its U.S. locations. The news came as the retailer reported a wider quarterly loss after a disappointing holiday season. Its stock tumbled 16 percent in afternoon trading.
Staples (SPLS), the largest office-supplies chain, will close as many as 225 stores in North America and reduce costs by as much as $500 million by the end of 2015, as it forecast sales
to drop for a fifth consecutive quarter.
The savings are expected to come from supply chain, retail store closures and measures including "labor
optimization, non-product related costs, IT hardware and services, marketing, sales force and customer service," the Framingham, Mass.-based company said in a statement Thursday.
RadioShack is garbage, they are way over priced and barely have anything. They should of kept up with the times and listened to what people want or need .
But then again , this is a real ****ty thing to hear. Wish the employees the best of luck in this economy .
I haven't been inside a Radio Shack in 2 decades. It's a miracle they've been around this long.
This. On the rare occasions my husband and I go to Radio Shack, we are the only customers in the store and we always leave empty handed. We joke that the store is really a cover for a money laundering operation.
1,325 stores...that's a lot of employees without jobs.
Well, if they stay unemployed for more than a few days, it's their own fault. They should just pick themselves up by their bootstraps and get *real* jobs. Right?
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