RadioShack (NYSE:RSH) is continuing along its path to transformation with plans to roll out new concept stores to international markets.
The retail technology chain said it plans to open at least 15 future locations across 10 countries in Southeast Asia over the next 10 years.
The news follows recent concept store openings in Asia, where the company welcomed shoppers for the first time in China and Malaysia. Working with joint venture partner FIH (First Honest Enterprises Limited), RadioShack introduced its first concept store in China on March 21. RadioShack and franchise partner Berjaya Retail Berhad also relaunched a completely renovated existing store in Malaysia on March 26. These two new stores represent the second and third international concept stores for the brand -- RadioShack debuted a new unit in Kuala Lumpur in November 2013.
RadioShack's concept stores are an effort to revamp the chain's outdated image which has caused customers to largely abandon the electronics chain. Concept stores feature demo stations with touch-screen displays that allow shoppers to find and compare products. A speaker wall inside the store allows customers to browse and compare different speakers by listening to music installed on in-store tablets. The newly configured displays highlight in-demand brands like Apple, HTC and Samsung, as well as mobile carriers such as AT&T, Sprint and Verizon.
RadioShack is committed to rolling out more concept stores across the U.S., too. The first was introduced in Manhattan in June 2013, and since then more than 30 concept stores have opened nationally, including two stores last month. If successful, the company plans to roll out the new design to all of its locations in the U.S.
RadioShack has been in the midst of a turnaround effort for several years, and is still struggling to generate sales. The retailer announced on Mar. 4, it would close up to 1,100 stores, 20 percent of its locations, after reporting a much wider than expected fourth-quarter loss of $191.4 million on plunging sales in the holiday quarter.
-See this RadioShack press release
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