RadioShack Is Cleaning Up Its Stores in Bid to Revive Sales
In 2007 the satirical Onion newspaper published a parody interview with RadioShack’s then-chief executive officer, Julian Day. “There must be some sort of business model that enables the company to make money,” the fake interview imagined Day saying, “but I’ll be damned if I know what it is.” Six years later, current CEO Joseph Magnacca still faces the all-too-real challenge of figuring out how the money-losing electronics retailer can coexist with big-box stores and online rivals. RadioShack’s $96 million in red ink during the first half of 2013 was more than triple the prior-year period’s loss. The chain’s stock market capitalization is 2 percent of what it was 14 years ago.
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