The Wall Street Journal has bad news for users who’ve turned to Radio Shack as their exclusive source for electronics purchases. According to a new report, the company is planning to close hundreds of its retail stores.
To be clear, Radio Shack hasn’t announced any store closures yet, however its the Journal’s assertion that the retailer plans to close 500 of its 4,500 retail stores steadily in 2014. The report didn’t include an information about what specific stores will close.
Ironically, reports from other outlets note that rival Best Buy could be what’s causing Radio Shack’s financial woes. However, we’d say its more likely that Amazon, not Best Buy is the cause. Since its launch in the late 90s Amazon has spent its time encroaching on every segment of the consumer goods space — including selling smartphones and tablets and almost any other thing that Radio Shack, Best Buy or any other retailer sells.