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Staples / RadioShack announce possible store closures

Retailers struggling to keep up with online sales

Staples / RadioShack announce losses,...

COLORADO SPRINGS, Colo. -

Nationwide office-supply chain Staples says it could close up to 70 underperforming locations over the coming months. 

 


Staples reported a $548 million loss and a 3% drop in sales in the fiscal quarter that ended in January.

 

There are two Staples locations in Colorado Springs and one in Pueblo, but so far, it’s too early to know if any of those stores will be affected.

The news comes the same day that RadioShack announced another bankruptcy filing.

This one makes for the second filing in two years.

RadioShack says 200 stores will close immediately, and the company will reevaluate the remaining 1,300 locations based on sales performance versus rental leases and other operating costs.

As with Staples, it is too early to know if any RadioShack closings will affect stores in the Pikes Peak region.

Analysts say both announcements are simply a sign of the times. Traditional retail outlets, including Macys, Sears, and Montgomery Wards have struggled to keep up with the convenience and low costs of shopping online.


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