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SCHEDULE 14A
(RULE 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES
EXCHANGE ACT OF 1934 (AMENDMENT NO. )
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[X] Preliminary Proxy Statement [ ] Confidential, for Use of the
Commission Only (as permitted by
Rule 14a-6(e)(2))
[ ] Definitive Proxy Statement
[ ] Definitive Additional Materials
[X] Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12
Tandy Corporation
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(Name of Registrant as Specified in Its Charter)
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FOR IMMEDIATE RELEASE MARCH 17, 2000
TC-2000-006
For further information, contact:
Kay Jackson
Director of Media Relations
817-415-0592
TANDY CORPORATION SEEKS STOCKHOLDER APPROVAL TO CHANGE ITS NAME TO
RADIOSHACK CORPORATION
FORT WORTH, TEXAS---March 17, 2000---Tandy Corporation (NYSE: TAN) announced
today that it has recently filed its preliminary Proxy statement with the
Securities and Exchange Commission (SEC), which includes a proposed amendment to
the Company's Restated Certificate of Incorporation to change the name of the
company to RadioShack Corporation. Stockholders will vote on the proposed
amendment at the annual stockholders meeting on May 18 in Fort Worth, Texas.
"The reason we want to change the name is simple: Tandy is RadioShack and
RadioShack is Tandy. RadioShack Corporation accurately reflects our single
retail concept and clearly communicates to consumers and stakeholders the
confidence we have in RadioShack's powerful growth prospects as a retail service
concept," said Leonard Roberts, Chairman, President and CEO.
RadioShack's retail service concept combines three key anchor strategies:
accessories and parts, telecommunications and the newest strategy...home
connectivity. These anchors provide RadioShack with a unique retailing model
that involves selling products, and acquiring and retaining customers for
subscriber services that include direct-to-home satellite, wireless, paging,
long distance, and Internet services. RadioShack has nearly 5 million customers
who are paying monthly service fees, a portion of which RadioShack receives as
recurring profit over the length of the customer's subscription.
If approved, the name change would enable the company to capitalize on the
proven brand identity and strengths of RadioShack, which are unique to the
consumer electronics retailer. These strengths include a wide, geographic
distribution channel of more than 7,100 stores and dealers and the
RadioShack.com e-commerce site; trained, trusted sales staff; and unique product
and service selections.
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TC-2000-006
"Through our vast store network, our e-commerce strategy and installation
capabilities, we are well positioned to leverage our brand around the corner,
around the clock and in the home," said Roberts.
While Tandy's corporate moniker will change upon shareholder approval, the Tandy
name will continue to be an important part of the company's heritage.
"The legacy of our founder, Charles Tandy, will not be erased nor forgotten. We
will make sure of this by honoring his incredible contributions in many ways,"
Roberts said. "In fact, we will retain the name on our headquarters building as
Charles was instrumental in the revitalization of downtown Fort Worth."
Tandy Corporation has grown from a family leather business that can trace its
roots back to 1919. It was first traded on the New York Stock Exchange as Tandy
Corporation in 1960. Three years later, the company acquired RadioShack, then a
nine-store chain in Boston. Charles Tandy took the fledgling retail chain and
built a Fortune 500 company and one of the most trusted retailing names in
America. And while many retail concepts were born out of Tandy Corporation,
RadioShack is today, America's largest consumer electronics retailer.
"Charles Tandy was an incredible salesman and merchant," said Roberts. "He saw
the potential for rapid growth in the electronics retail industry. Two years
after purchasing RadioShack, he turned a $4 million loss into a profit with $20
million in sales." In 1999, RadioShack had sales of $4.1 billion.
Tandy Corporation/RadioShack is the nation's largest and most trusted consumer
electronics retailer in the United States, and offers both on- and off-line
shopping convenience. With more than 7,000 stores and dealers, RadioShack sells
more wireless telephones, telecommunications products and electronic parts and
accessories than any other retailer. It is estimated that 94 percent of American
live or work within five minutes of a RadioShack store or dealer For more
information visit Tandy Corporation/RadioShack web sites at www.tandy.com and
www.radioshack.com.
Statements made in this press release which are forward-looking statements
involve risks and uncertainties and are indicated by words such as "expects,"
"poised," and other similar words or phrases. These uncertainties include, but
are not limited to, economic conditions, product demand, competitive products,
level of recurring revenue, and pricing, availability of products, the
regulatory environment, real estate market
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fluctuations and other risks indicated in filings with the Securities and
Exchange Commission such as Tandy's most recent Form 10-K and 10-Q.
INVESTOR NOTICE
Investors are urged to read the preliminary proxy statement filed by Tandy
Corporation on March 10, 2000 with the Securities and Exchange Commission (SEC)
in connection with the 2000 annual meeting of stockholders. This preliminary
proxy statement contains important information about the proposed change of name
of Tandy Corporation to RadioShack Corporation, as well as other proposals to be
voted on at the 2000 annual meeting. After the preliminary proxy statement is
cleared with the SEC, the definitive proxy statement and a form of proxy will be
mailed to all shareholders and will be available free of charge on the SEC's
website (www.sec.gov) or from Tandy Corporation's Assistant Corporate Secretary
at (817) 415-2758.
Tandy Corporation is the only participant involved in the solicitation of
proxies in connection with the proposed name change and other proposals to be
voted on at the 2000 annual meeting. Information relating to Tandy Corporation
and its interests in the solicitation is contained in the preliminary proxy
statement currently on file with the SEC.
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