RadioShack Sales Up 3%; Home Entertainment Outlook Down

RadioShack Corp. said its net income in the second quarter was up 11% and comparable-store sales up 3% compared to the same period last year.
Net income in Q2 was $57.5 million or 34 cents per diluted share on total sales in the second quarter of $1.025 billion, which was up 3%. Wireless communications department sales were up 14%.
For the year, RadioShack said it expects growth in sales this year of approximately 3.5 to 4%; but, it said, “Collectively, the decline in the home entertainment, wired communications and radio communications departments will be more pronounced than earlier expectations of ‘down slightly to flat.'”