RS Legacy Corp. (fka RSHCQ)

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Sprint Corp. (S) Plans to Open 1,400+ Sprint-RadioShack Stores on April 10th

April 9, 2015 11:06 AM EDT

Tomorrow, Sprint (NYSE: S) will more than double its company-owned retail footprint by opening 1,435 Sprint-RadioShack stores. The expansion will immediately give more customers across the country improved access to Sprint’s unique and industry-exclusive leasing programs, unlimited plans and Boost and Virgin Mobile prepaid offerings.

With the new RadioShack store network, recently acquired by General Wireless, Sprint is further investing in communities across the country, and beginning the process to:
Exclusively sell mobile devices across Sprint’s postpaid and prepaid portfolio, including the in-store availability of the Samsung Galaxy S 6, along with other RadioShack products and accessories
Transform the customer store experience as it works to complete its “store-within-a-store” concept over the next several months
Co-brand all of the locations with Sprint-branded storefronts and marketing materials
Create and preserve jobs in communities across the country

“Our new products and services are resonating with customers – they’re coming to our stores to switch to Sprint through our Cut Your Bill in Half offer, take advantage of our industry-first leasing plans, and shop for new devices,” said Sprint CEO Marcelo Claure. “Customers value the ability to walk into a neighborhood Sprint store near where they live and work. With more stores, and including Boost and Virgin Mobile, we’re providing additional shopping opportunities and making it easier and more convenient for consumers to do business with us.”

“Sprint now has many more storefronts to sell wireless devices from and that is very important to the growth of its business,” said industry analyst Jeff Kagan. “It gives them the ability to reach more customers, more quickly, from coast to coast.

Community Investment

The expansion of Sprint’s retail stores also means significant opportunities for the company to invest in local communities by adding nearly 3,500 new jobs. In the coming months, Sprint will actively recruit a skilled workforce to fill quality full- and part-time positions, helping to make local communities stronger.

In last week’s transaction, General Wireless Inc., an affiliate of Standard General LP, acquired 1,743 RadioShack stores. Sprint has agreed with Standard General to be co-tenants in 1,435 of those stores, with Sprint being the primary brand in marketing materials and signage. Sprint will occupy roughly one third of the retail space at these existing RadioShack locations. Through the end of this year, Sprint will work closely with General Wireless to build out its “store-within-a-store” retail model.

“This important partnership with Sprint has enabled RadioShack to continue to provide a trusted destination for our millions of loyal consumers,” said Ron Garriques, RadioShack CEO. “Together, we can preserve jobs and an iconic American company specializing in mobility, connectivity and innovation. This arrangement is truly a win-win, giving Sprint a much larger footprint and providing both companies immediate access to each other's customers.”

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