Eectronics retailer Radio Shack has announced they will be closing 1,100 of their stores.
The news came about after reports of a dismal quarterly sale, especially over the holidays. The loss is calculated to be about 19% due to weak customer traffic, which also contributed to the company’s stock dropping 23 points. The planned closures will leave the Fort Worth, Texas-based chain with over 4,000 stores, including over 900 dealer franchise locations.
Staples to Close 225 stores
In this May 17, 2011 file photo, a Staples sign is displayed on the front of a Staple store, in Portland, Ore. Staples says it will shutter 225 North American stores, about 10 percent of Staples Inc.'s worldwide total of 2,200, by the end of 2015, and the office-supply retailer has started a plan to save about $500 million annually.
There is a show which aired on PBS station “America Revealed” which tells how 1/3 of jobs are gone, many have been loss to overseas but many are being done in the USA with robots.
In America, there is more money than ever, 1.7 trillion in exports but fewer jobs.
Here is the video