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RadioShack will reportedly close up to 500 stores in coming months

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radioshack (STOCK)
radioshack (STOCK)

RadioShack will reportedly close up to 500 stores in its latest attempt to overhaul a slumping business. The Wall Street Journal says the closures will come in the coming months, though it's not clear which locations are in the crosshairs. RadioShack currently operates over 4,500 stores, so the retailer will still have a sizable US presence even after the cuts. The company has thus far struggled to reinvent itself and attract a new generation of customers; its latest try involved an '80s-themed commercial during the Super Bowl. And it's a daunting challenge, as RadioShack faces competition from all sides. Most everything the retailer sells can be found on Amazon, and its mobile business — which has become a major focus in recent years — must contend with wireless carriers, small smartphone shops, and other powerful chains like Best Buy. The company has not yet formally announced the coming store closures.