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Fort Worth, Texas — RadioShack has rolled out digital fitness displays in about 75 percent of its locations.
The dedicated sections are located near the front of the stores and feature wearable fitness devices and accessories. Sales associates have also received added training on the newly expanded assortment, the company said.
The chain, which is in the process of a major merchandising, marketing and showroom revamp under recently appointed CEO Joe Magnacca, noted that wearable technology emerged as a hot trend for 2013 at this year’s International CES.
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Fort Worth, Texas – Branded RadioShack sections will begin appearing in college bookstores this fall under a new five-year distribution agreement between the retailer and a leading college-market distributor.
Under the plan, the National Association of College Stores (Nacscorp) will offer its nearly 4,000 college accounts a tailored mix of RadioShack’s top-selling headphones, wireless speakers and power supplies under such brands as Beats by Dr. Dre, Skullcandy and SOL Republic, as well as the retailer’s own private-label Enercell and Auvio lines.
Fort Worth, Texas — RadioShack has released its first TV spot under its new management team.
The commercial, for Beats by Dr. Dre’s Pill wireless speaker, is a play on Robin Thicke’s “Blurred Lines” music video and is provocative by RadioShack standards.
Recently installed CEO Joseph Magnacca acknowledged on an earnings call last week that the spot was designed to draw a new, younger audience to the 92-year-old electronics chain.
Fort Worth, Texas – RadioShack plans to refresh its brand, assortment and stores to attract a new, younger customer and reverse a string of successive quarterly losses.
The strategy, which is still evolving, was outlined in broad strokes by recently installed CEO Joseph Magnacca during a first-quarter earnings call this morning, after the struggling chain announced a $43 million loss for the period.
Fort Worth, Texas – RadioShack lost $43 million during the first quarter, ended March 31.
Sales slipped 7 percent to $849 million and comparable store sales were down 5.7 percent.
The company also reported an operating loss of $19 million, compared to operating income of $7 million last year.
RadioShack attributed $8.5 million of its net loss to its Target mobile center business, which has since been discontinued.
Fort Worth, Texas — RadioShack has appointed two key executive VPs to oversee marketing and store concepts as it seeks to transform its business.
The latter, Michael DeFazio, already on the job for several weeks, has begun developing new store prototypes that are expected to debut over the next several months.
Fort Worth, Texas — RadioShack reported a net loss, slightly lower sales, and lower comp sales in the fourth quarter, and a net loss for the year, ended Dec. 31.
Total net sales and operating revenue were $1.3 billion, compared with $1.4 billion last year. Comp-store sales were down 7 percent, driven by a decline in the mobility and consumer electronics platforms, the chain said.
Fort Worth, Texas — RadioShack has appointed drugstore chain executive Joseph Magnacca as CEO, ending a five-month search for a chief executive.
Magnacca, who was promoted to executive VP of Walgreens on Feb. 1, will become RadioShack’s sixth CEO in eight years. He officially assumes his new post, and takes a seat on RadioShack’s board, on Feb. 11.
Minneapolis — RadioShack will no longer operate Target’s 1,500 mobile departments, effective this April.
The three-year-old outsourcing arrangement had proved a profit drain on RadioShack, which was excluded from sharing in prepaid and accessories sales, the two most lucrative pieces of the mobile business. It lost $14 million on the Target business in the third quarter of 2012, and attempts at renegotiating the contract failed.
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