RadioShack Corp. has reported a $21 million loss for its second quarter as sales of consumer electronics and personal computer accessories dropped.
Analysts say Fort Worth-based RadioShack and Best Buy Co. are dealing with shoppers increasingly move away from devices like computers and cameras to buy tablets and smartphones, which are less profitable for retailers.
RadioShack said Wednesday that its loss amounted to 21 cents per share, for the three months ended June 30 compared with net income of $24.9 million, or 24 cents per share, in the prior-year period.
Analysts predicted earnings of 3 cents per share for the latest quarter.
Revenue rose 1 percent to $953.2 million.