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The company reported net income of $7 million, or 1 cent a share, on sales of $12.8 billion. It was less profit than analysts had estimated, but the revenue was in line with forecasts.

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.

Recently ousted Yahoo CEO Scott Thompson has landed a new job leading ShopRunner, an online service that provides two-day shipping from a variety of Internet retailers... ShopRunner began as part of GSI Commerce, which eBay bought for $2.4 billion last year. After that deal closed, eBay spun off ShopRunner into another company but still retains a 30 percent stake in the service.

Michaels Stores said John Menzer has resigned as CEO in order to focus on his recovery from a stroke he suffered in April.

Wal-Mart's Facebook page has more than 17 million fans and the company also pays to advertise on Facebook. Expanding its reach online is key for Wal-Mart as shoppers increasingly shop on their computers, tablets and smartphones.

Penney CEO Ron Johnson has said the retailer had too many legacy systems that were all customized and so came with expensive maintenance costs. The outsourcing move is one of the cost-saving decisions that Johnson is implementing with the goal of coming up with $900 million in annual expense cuts. Those cuts are paying for Penney’s transformation into “America’s favorite store.” Penney employees will run Oracle’s software and it no longer will need as many IT people as it did to run and update its legacy systems.

Retail sales fell for a third straight month in June as demand slumped for everything from cars and electronics to building materials, a sign the economic recovery is flagging.

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.

Target (TGT) and Macy’s (M) announced that June same store sales were below analyst estimates. Sales at Target increased by 2.1 percent, below expectations of a 2.8 percent gain. Macy’s reported a 1.2 percent increase in same-store sales, well below the estimate of 2.3 percent.

Richard Schulze, the founder of Best Buy, is exploring putting together a bid to take the struggling electronics retailer private, according to people briefed on the matter. Mr. Schulze, who resigned from the company’s board this month, has been begun working with bankers from Credit Suisse to consider such a move, these people said. They said he would probably team up with a private equity firm or other deep-pocketed investor. With a 20.1 percent stake, he is the company’s largest shareholder.