Consumer electronics retailer RadioShack Corp. will sell flat-panel TVs as part of a newly adopted turnaround plan that includes the closing of 480 stores.
According to an AP report, Claire Babrowski, president, chief operating officer and acting CEO, said the company tested flat-screen sales in 40 markets last year, and is ready to carry them starting next month.
Babrowski, who joined the company last July as chief operating officer, said she didn't know why RadioShack waited so long to sell the flat-panel TVs.
The company will limit store offerings to 32-inch flat panel TVs, but sell larger screens online, Babrowski said.
RadioShack said the 18- to 36-month turnaround plan is designed to accelerate company progress, improving the health of the business and exploiting industry opportunities on behalf of the consumer and investor
“Execution of the turnaround plan is job number one for everyone at RadioShack,” said Babrowski. “We don’t expect the turnaround plan to produce miracles overnight, and we are not going to over promise and under deliver -- turning around this company is a work in progress. That being said, we are making progress in the milestones we set forth for investors earlier this year.”
The company has also initiated a wireless recovery plan to address lagging sales of wireless, which make up 35 percent of the company’s annual revenue. Several components of this plan have been implemented, including a new overnight shipping program that increases delivery frequencies for high-velocity stores and a modified approach to advertising that positions RadioShack as the leader in selling wireless phones.
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