Wednesday, February 5, 2014

Morning After Hilarious Super Bowl Ad, Radio Shack Says It Will Shutter Hundreds of Stores

Posted By on Wed, Feb 5, 2014 at 9:56 AM

Radio Shack scored big with its '80s-themed advertisement during the Feb. 2 Super Bowl, dubbed "The '80s Called, They Want Their Store Back." Simply put, Radio Shack was touting that it would remodel most of its retail outlets because they really haven't changed much since ... well, the '80s.

The ad featured horror icons Jason and Chucky and even Alf, the California Raisins, Erik Estrada and Hulk Hogan.

But many of Radio Shack's employees stopped laughing the next morning, when the company announced it would close 500 stores over the next few months. No word yet on which of Radio Shack's 4,300 stores will be shuttered.

Following the Super Bowl ad, Radio Shack shares jumped 7 percent Feb. 3, but following the news of the store closures, share prices dropped 4.8 percent on Feb. 4.

According to Reuters, Radio Shack's sales have been in free-fall amid executive departures, strong competition and an image problem. "Despite its ubiquitous presence in the United States, analysts say it has not done enough to transform itself into a destination for mobile phone shoppers, nor has it become hip enough to woo younger shoppers," Reuters reported.

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