Poor wireless sales worsen RadioShack's Q2

RadioShack suffered another rough quarter partly because demand for mobile phones and plans fell 20 percent during its second quarter, continuing a trend of declining revenue since it switched to AT&T from Verizon Wireless last year. According to the company's release: "second quarter 2007 comparable store sales declined by 8.9 percent, while total sales declined 15 percent. The post-paid wireless business continued to negatively impact both the comparable store and total sales results." What's more, sales were hurt by the closure of 481 stores during 2006. RadioShack is struggling to compete with Best Buy, Circuit City and Walmart. Best Buy is currently rolling out a number of wireless specific stores and kiosks across the country.

For more on RadioShack's Q2:
- read this release

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