Retail Latest News: RadioShack in Talks to Bolster Finances

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Retail Latest News: RadioShack in Talks to Bolster Finances

Retail Latest News: RadioShack in Talks to Bolster Finances
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Retail Latest News: RadioShack in Talks to Bolster Finances

Wochit 1:19 mins

RadioShack Corp. said it is in talks with investment banks on ways to bolster its finances, as the money-losing electronics chain works to remake its image and reverse sliding sales. The 94-year-old company lost $139 million last year and has struggled to keep up as electronics retailing shifted to the Web and consumer tastes changed. June sales heated up for stores. Costco Corp., Fred's Inc. and Stein Mart Inc. were among the retailers that reported their strongest sales gains since January, as shoppers, enticed by warm weather and an improving economy, took advantage of summer discounts. The data offers positive signs for the back-to-school season, which is the second-biggest shopping period behind the winter holidays. Sales at U.S. retailers, including Costco Wholesale Corp and the company that runs Victoria's Secret, suggest that overall U.S. consumer spending is improving while discretionary spending may remain under pressure. Analysts expect a 3.6 percent rise in June sales at stores open at least a year across the 11 U.S. chains that report this data each month.

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