RadioShack to close 400 to 700 stores

Post by **CaboWabo** » Fri Feb 17, 2006 3:16 pm

With fourth-quarter earnings down 62%, they plan to close 400 to 700 stores and 2 distribution centers.

http://www.msnbc.msn.com/id/11409391/

clxfiles · Post by **clxfiles** » Fri Feb 17, 2006 3:41 pm

Yeah just saw the news on this link also

http://news.yahoo.com/s/nm/20060217/bs_ ... k_earns_dc

cj · Post by cj » Mon Feb 20, 2006 6:23 am

Don't forget about the lying, drunk CEO

http://yahoo.reuters.com/stocks/QuoteCo ... mbol=RSH.N

Anyone know were we can get zipzaps and xmods directly instead of though RS.

Kokolo · Post by **Kokolo** » Mon Feb 20, 2006 7:04 am

ya i believe
you can order them directly from the hq in texas

Namuna · Post by **Namuna** » Mon Feb 20, 2006 9:55 am

I was at the local shopping center and saw that the Suncoast Video and Sam Goody Music stores were closing too.

It's bound to happen, Suncoast and Sam Goody can't compete with online stores (not to mention Bit Torrent)...The Ratshack in the same location wasn't closin though, go figure.

nascar8 · Post by **nascar8** » Mon Feb 20, 2006 12:56 pm

That sucks that RS is shuting down 400-700 stores, I hope mine doesnt get hacked, I know all the people in there by name, if they get shut down who am I going to get my free replacement parts for my XMODs from???

cj · Post by cj » Tue Feb 21, 2006 5:27 am

More news

http://biz.yahoo.com/ap/060221/radioshack_ceo.html?.v=2

RadioShack's Embattled CEO, David Edmondson, Resigns Following Questions About Resume's Accuracy

The company's board said Monday it had accepted Edmondson's resignation and promoted Claire Babrowski -- executive vice president and chief operating officer -- to acting CEO.

Babrowski's job will be to lead a turnaround that begins with the store closings. She has said she hopes to have the first 400 stores closed by Sept. 1.

http://biz.yahoo.com/e/060221/rsh8-k.html

Pursuant to the Resignation Agreement, Mr. Edmondson resigned from RadioShack effective February 20, 2006. RadioShack agreed to pay Mr. Edmondson the aggregate sum of $975,000 in four equal quarterly installments, beginning on February 21, 2006. Mr. Edmondson will also receive payment for his accrued, unpaid vacation (in the amount of $57,692), as well as his accrued and unpaid salary, no later than February 23, 2006.

This guy walks away with a Million bucks just for lying on hes resume?

steelwoolghandi · Post by **steelwoolghandi** » Tue Feb 21, 2006 9:22 am

This guy walks away with a Million bucks just for lying on hes resume?

I'm writting mine up right now should have it sent into the shack today!

Humm how do you spell CEO....

cj · Post by cj » Tue Feb 21, 2006 12:03 pm

SHAUN wrote:If they dont ship the products off doesnt this mean store clearence.

I have helped with a RS closing and they usually just distribute the products in the store to other stores within the district. No Clearance or store closing sales.

sg219 · Post by **sg219** » Tue Feb 21, 2006 1:58 pm

cj wrote:
SHAUN wrote:If they dont ship the products off doesnt this mean store clearence.
I have helped with a RS closing and they usually just distribute the products in the store to other stores within the district. No Clearance or store closing sales.

What about a "Fire Sale"?