RadioShack Soon to Be Disconnected from NYSE

radioshack stock

First, it was the birth of “big box” electronic stores. Then, it was that whole “shacking up with Lance Armstrong” blowing up in its face (see what I did there). Followed by obliterating brand loyalty for “The Shack.”

Things were looking like a brighter horizon was coming for the Fort Worth, Texas-based iconic brand, thanks to a genius Super Bowl commercial (see below). And then absolutely nothing happened after that. So much for momentum.

Today, we discover an even more somber state of affairs for what was America’s favorite electronics store — its stock is selling for $1 per share, and faces almost certain peril and de-listing from the NYSE. 

I like RadioShack. At time, I feel like the only one in my fare burg that shops at one (as seen by being the only one in the store whenever I go inside), but I try to keep it real. Think about this: In 1999, RadioShack stock (NYSE: RSH) was $79.50 per share. Today… stores are being closed, people are being laid off, and hopes are being shattered. And the shares of stock has plummeted as low as 91 cents each.

RadioShack has “too many unprofitable stores, and no way to close the majority of them without filing for bankruptcy,” David Strasser, an analyst at Janney Capital Markets, recently said to the Wall Street Journal.

Currently, the beleaguered brand operates 4,250 U.S. stores, and continues to cite challenges by “soft consumer interest in mobile phones, discount pricing, and competitors.”

In short, “those #$%* guys!”

Sales dropped 13 percent over the year-ago quarter, while losses increased to $81 million from $10.3 million. Last month, the company said its lenders rejected plans to close up to 1,100 under-performing stores.

I have friends that work there. I have history working for people there. I have a home less than 30 miles from there. It would be devastating in my neck of the woods, but given those numbers, we wouldn’t be surprised. No one would really.

In short: More than the 80s have called. It’s possible the IRS is on Line Two.