POTTSTOWN PA – There’s no way to determine, yet, whether any of the RadioShack electronics stores located in Pottstown, Royersford, Phoenixville, Exton or King of Prussia may be affected by the company’s announcement Tuesday (March 4, 2014) that it would close about 1,100 stores, or roughly 20 percent of its locations, across the country.
Texas-based RadioShack is struggling to make itself competitive in electronics retailing, but suffered a disappointing holiday season and reported quarterly losses that didn’t sit well with investors, The Associated Press reported. Sales at stores open at least a year — a key indicator of a retailer’s health — sank 19 percent, it said.
That was seen as a motivator for store consolidations. RadioShack didn’t immediately identify which stores will close, however, so the fate of its western Montgomery and northern Chester county outlets is still unknown.
The oldest RadioShack locally is the one located in Coventry Mall, at the intersection of Routes 100 and 724. The mall has been beset with its own retail and leasing struggles in recent years. A second Pottstown area store, in Pottstown Center with Wal-Mart off Shoemaker Road, moved there from its former State Street location only three years ago.
The company said that stores targeted for closings would be selected based on location, area demographics, lease duration and financial performance.
RadioShack CEO Joseph Magnacca told The AP its closings would leave the company with more than 4,000 U.S. stores. That’s still far more than Best Buy, which has roughly 1,400 U.S. locations, and makes RadioShack stores nearly as common as Wal-Mart.
Photo by Joe Zlomek for The Post Publicatons