Electronics Retailer | featured news

RadioShack Corp. said today that it’s eliminating its dividend to shareholders as it reported a second quarter loss. The Fort Worth-based consumer electronics retailer reported a net loss of $21 million, or 21 cents a share, compared with a profit of $24.9 million, or 24 cents a share a year ago. Total sales increased 1.2 percent from a year ago and same-store sales were flat.

Electronics retailer Best Buy Co. is laying off 600 staffers in its Geek Squad technical support division and 1,800 other store workers as it seeks to restructure operations and improve results, the company said Friday.

Best Buy's profit fell 30% as same-store sales continued to slide. The electronics retailer also revised its full-year earnings view.

“For the holidays, the tablets will be mostly Android-based, plus the iPad,” said Mike Vitelli, Best Buy’s President of North and South American business, in an interview.

The electronics retailer believes it can rebuild its brand and attract customers by bringing the Web.