If there’s not a Sprint retail location in your neighborhood one just may be coming to your area soon.
Sprint late Thursday announced that it will be expanding its branded retail locations through a transfer of leases for Radio Shack’s bricks-and-mortar stores.
The deal will have to be approved by by a court that is reviewing RadioShack’s bankruptcy proceedings.
In a statement, Sprint CEO Marcelo Claure said the agreement would allow Sprint to grow branded distribution quickly and cost-effectively in prime locations. “Sprint and RadioShack expect to benefit from operational efficiencies and by cross-marketing to each other’s customers,” Claure said.
Under the terms of the new agreement, Sprint would effectively operate a store within a RadioShack store, occupying approximately one third of the retail space of each location. Sprint employees will sell mobile devices and plans on all Sprint brands including Boost and Virgin Mobile. The stores will be co-branded with Sprint being the primary brand on storefronts and in marketing materials.
The new stores will add to Sprint existing 1,100 company-owned retail stores.
The announcement follows on comments made by Claure this week during an quarterly investor call when Claure said Sprint was looking to add 500 retail spaces.