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Company Profile of RadioShack

Discuss Company Profile of RadioShack within the Company Profiles & News !! forums, part of the Mirror View - Ebooks Links & Miscellenous Reading Material category; RadioShack Corporation (formerly Tandy Corporation) (NYSE: RSH) is an American franchise of electronics retail stores in the United States, as ...



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Company Profile of RadioShack
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Pratik Kukreja
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Company Profile of RadioShack - May 13th, 2011

RadioShack Corporation (formerly Tandy Corporation) (NYSE: RSH) is an American franchise of electronics retail stores in the United States, as well as parts of Europe, South America and Africa. As of 2008, it had 4,653 company-owned stores, 688 kiosks, 8 service centers, and 1,408 dealer outlets. RadioShack reported net sales and operating revenues of $4.81 billion. The headquarters of RadioShack is located in Downtown Fort Worth, Texas.[2] RadioShack is also a sponsor for the Samsung/RadioShack 500 NASCAR Sprint Cup Series race at Texas Motor Speedway. On July 21, 2009, RadioShack announced a partnership with T-Mobile USA, and started offering the service in August 2009.
RadioShack's current proprietary brands include RadioShack branded products (parts, adapters, telephones and other legacy/classic products), AntennaCraft (outdoor antennas and amplifiers), Auvio (audio/video cables, LCD TV's, headphones, premium surge protectors and speakers), Enercell (batteries and power), Gigaware (computer, GPS and iPod accessories, mp3 players and accessories, as well as digital cameras, digital camera accessories and digital picture frames) and PointMobl (Wireless Phone Accessories).
Discontinued brands include Accurian (audio and video equipment and accessories), MyMusix (MP3 players; now marketed under the Gigaware brand), Kronus (tools), Optimus (formerly audio and PA/DJ equipment; later used for digital camera accessories), Presidian (audio and video equipment, telephones, flashlights, calculators, and 2-way radios), VoiceStar (wireless phone accessories), Archer (wiring and antennas), Duofone (telephones & accessories), Micronta (scientific and educational equipment) and Realistic (sound equipment).
In 2009, the company became the main sponsor of a new cycling team, Team RadioShack, with Lance Armstrong and Johan Bruyneel as two of the members.

RadioShack Corporation--known as Tandy Corporation from its founding in 1960 until mid-2000--is one of the largest consumer electronics retailers in the United States. Forming the company's core operation are the 7,100 RadioShack stores located throughout the country. The stores feature two main categories of goods and services--electronics parts and accessories, and telephones and telecommunications accessories&mdash well as audio and video equipment, satellite systems, personal computers, and other electronics products. RadioShack has partnerships with a number of major consumer electronics and computer companies, including Sprint Communications Company in the area of telecommunications; Compaq Computer Corporation, whose Compaq brand is the exclusive computer brand sold at RadioShack; Thomson Multimedia, for a line of RCA-branded digital audio/video products and services; and Microsoft Corporation in the area of Internet access as well as the radioshack.com e-commerce site. RadioShack Corporation also operates eight manufacturing plants in the United States and China that produce electronics products, most of which are sold in company stores; and a network of service centers that repair consumer electronics products and personal computers.

RadioShack Corporation (RadioShack), incorporated in 1967, is engaged in the retail sale of consumer electronics goods and services through its RadioShack store chain. The Company has two segments: U.S. RadioShack company-operated stores and kiosks. Its U.S. RadioShack company-operated stores offer a selection of relevant technology products, including mobile devices, accessories, and services, as well as items for personal and home technology and power supply needs. Its kiosk locations offer a selection of mobile phones, accessories and related services. Its other operations include business activities that are not separately reportable, which include sales to its independent dealers, sales to other third parties through its service centers, sales generated by its ] Website and its Mexican subsidiary, sales to commercial customers, and sales to other third parties through its global sourcing and manufacturing operations.
U.S. RadioShack company-operated stores
At December 31, 2010, the U.S. RadioShack company-operated stores segment consists solely of its 4,486 United States company-operated retail stores, all operating under the RadioShack brand name in the United States, Puerto Rico, and the United States Virgin Islands. The Company’s product lines are categorized into seven platforms. Its Wireless platform includes postpaid and prepaid wireless handsets and communication devices, such as scanners and global positioning system (GPS) products. Its accessory platform includes home entertainment, wireless, music, computer, video game and GPS accessories; media storage; power adapters; digital imaging products, and headphones. Its modern home platform includes home audio and video end-products, personal computing products, residential telephones, and Voice over Internet Protocol products. Its personal electronics platform includes digital cameras, digital music players, toys, satellite radios, video gaming hardware, camcorders, and general radios. Its power platform includes general and special purpose batteries and battery chargers. Its technical platform includes wire and cable, connectivity products, components and tools, and hobby products. The Company also provides consumers access to third-party services, such as prepaid wireless airtime and extended service plans in its service platform.
At December 31, 2010, the Company operated 1,267 kiosks located throughout most of the United States. These kiosks are located inside Target and Sam’s Club stores. These locations, which are not RadioShack-branded, offer primarily wireless handsets with activation of third-party wireless services. As of December 31, 2010, the Company operated 417 of these kiosks. As of December 31, 2010, the Company had assigned the operation of 22 kiosk locations to Sam’s Club. The Company operated 850 Target Mobile locations at December 31, 2010.
The Company’s other sales channels and support operations include dealer outlets, RadioShack.com, international operations and support operations. At December 31, 2010, the Company had a network of 1,207 RadioShack dealer outlets, including 34 located outside of North America. Its North American outlets provide name brand and private brand products and services, typically to smaller communities. Products and information are available through its commercial Website . Online customers can purchase, return or exchange various products available through this Website. Additionally, certain products ordered online may be picked up, exchanged or returned at RadioShack stores. As of December 31, 2010, there were 211 company-operated stores under the RadioShack brand, nine dealers, and one distribution center in Mexico. Its support operations include distribution centers, RadioShack Technology Services (RSTS), RadioShack Global Sourcing (RSGS) and consumer electronics manufacturing.

The 'new' Tandy proved to have a short shelf life, however--by decade's end the company would transform itself again. In the brutal environment for consumer electronics retailers in the late 1990s, with fierce competition from arch-rivals such as Best Buy and Circuit City and from general retailers such as Kmart and Wal-Mart, which were increasingly selling basic electronics goods, Tandy was forced to shed one after another of its chains.
Video Concepts was shuttered in 1995, along with 49 McDuff's stores. In late 1996 Tandy announced that it would close the remainder of the McDuff's chain; the entire Incredible Universe chain, which lost an estimated $130 million from 1993 to 1996; and 21 of its 113 Computer City outlets. The latter was operating in the red as well. While the divestments took place in 1997, Tandy took restructuring charges of $230.3 million in 1996, leading to a net loss for the year of $91.6 million on sales of $6.29 billion. The company completed a further retrenching move in mid-1997 when it sold a 20 percent stake in Computer City to a group of computer retailing executives, who took charge of running the chain.
Meanwhile, the RadioShack chain was continuing to be revitalized under the leadership of Leonard Roberts, who took over the presidency in mid-1993, having previously led turnarounds of Arby's and Shoney's Inc. In 1997 RadioShack began forming strategic alliances with key players in the electronics, telecommunications, and computer industries. The first was with Sprint Communications Company, which began operating 'Sprint Communications Stores' within RadioShack outlets offering a full range of telecommunications products and services, including long distance and wireless services. The 'store within a store' concept was extended to the computer arena the following year through an alliance with Compaq Computer Corporation, which launched 'Compaq Creative Learning Centers' featuring personal computers and accessories. The Compaq brand became the exclusive computer brand found in RadioShack stores. A byproduct of these alliances was that entire sections of RadioShack stores were overhauled with the help of outside partners, reducing Tandy's share of the remodeling costs.
The increasing influence of Roberts was shown by his promotion to president of Tandy Corporation in March 1997. One year later, Roach announced that he would retire at the end of 1998, with Roberts becoming chairman, president, and CEO of Tandy. Also in 1998 Tandy bought back the Computer City stake it had sold, then sold Computer City to CompUSA Inc. for $211 million. It could now be said, as Roberts put it at the 1998 annual meeting, 'Tandy is RadioShack, RadioShack is Tandy.'
The 'store within a store' strategy was clearly paying dividends as RadioShack had already become by 1998 the number one seller of telecommunications products in the country. The chain now had two major categories of business--the longstanding electronics parts and accessories and telecommunications. Further alliances followed. In May 1999 RadioShack entered into a partnership with Thomson Multimedia, owner of the RCA brand, to create a new 'store within a store' called the RCA Digital Entertainment Center, where RCA brand televisions, VCRs, camcorders, DVD players, digital cameras, and audio products would be displayed within RadioShack stores. In November of that same year, an alliance with Microsoft Corporation was formed to create the Microsoft Internet Center &#064 RadioShack, which featured dial-up and broadband Internet access as well as related products and services. Microsoft also agreed to invest $100 million in the e-commerce web site that RadioShack launched in October 1999, radioshack.com.
The newly streamlined and focused Tandy Corporation posted its best results in years in 1999--net income of $297.9 million on sales of $4.13 billion. Tandy Corporation changed its name to RadioShack Corporation in May 2000, the culminating move in its successful refocusing on its RadioShack core.
Principal Subsidiaries: A & A International Limited Partnership; AmeriLink Corporation; RadioShack.com, LLC.
Principal Competitors: Babbage's Etc. LLC; Best Buy Co., Inc.; CDW Computer Centers, Inc.; Circuit City Stores, Inc.; CompUSA Inc.; Creative Computers, Inc.; Dell Computer Corporation; Egghead.com, Inc.; Fry's Electronics, Inc.; Gateway, Inc.; The Good Guys, Inc.; Kmart Corporation; Let's Talk Cellular & Wireless, Inc.; Micro Warehouse, Inc.; Montgomery Ward, LLC; Office Depot, Inc.; OfficeMax, Inc.; PC Connection, Inc.; Sears, Roebuck and Co.; Sharper Image Corporation; Staples, Inc.; The Wiz; Ultimate Electronics, Inc.; Wal-Mart Stores, Inc.

Beta: 1.69
Market Cap (Mil.): $1,752.04
Shares Outstanding (Mil.): 106.06
Annual Dividend: 0.25
Yield (%): 1.51
RSH Industry Sector
P/E (TTM): 10.17 1.42 19.29
EPS (TTM): -2.79 -- --
ROI: 12.18 1.46 1.61
ROE: 19.21 2.26 2.45

Public Company
Incorporated: 1960 as Tandy Corporation
Employees: 40,800
Sales: $4.13 billion (1999)
Stock Exchanges: New York
Ticker Symbol: RSH
NAIC: 443112 Radio, Television, and Other Electronics Stores; 443120 Computer and Software Stores; 454110 Electronic Shopping and Mail-Order Houses; 334210 Telephone Apparatus Manufacturing; 334290 Other Communications Equipment Manufacturing; 334310 Audio and Video Equipment Manufacturing; 335929 Other Communication and Energy Wire Manufacturing; 811211 Consumer Electronics Repair and Maintenance; 811212 Computer and Office Machine Repair and Maintenance; 811213 Communication Equipment Repair and Maintenance

Key Dates:

1960: Tandy Corporation is established and begins trading on the New York Stock Exchange.
1963: Tandy buys the RadioShack chain.
1977: Company begins selling personal computers.
1985: Scott-McDuff and Video Concepts are acquired.
1988: GRiD Systems Corporation is acquired.
1991: Computer City chain is launched.
1992: Incredible Universe retail concept debuts.
1993: Company sells most of its manufacturing operations.
1995: Video Concepts is closed down.
1997: McDuff's and Incredible Universe chains are shuttered; RadioShack forms alliance with Sprint.
1998: Computer City chain is sold to CompUSA; RadioShack forms alliance with Compaq.
1999: RadioShack forms alliances with Thomson Multimedia/RCA and Microsoft.
2000: Tandy Corporation changes its name to RadioShack Corporation.

Name Age Since Current Position
Julian Day 58 2006 Chairman of the Board, Chief Executive Officer
James Gooch 43 2011 President, Chief Financial Officer
Lee Applbaum 40 2008 Executive Vice President, Chief Marketing Officer
Bryan Bevin 47 2008 Executive Vice President - Store Operations
Scott Young 49 2010 Executive Vice President, Chief Merchandising Officer
Sharon Stufflebeme 49 2009 Senior Vice President, Chief Information Officer
Mary Doran 55 2010 Senior Vice President - Human Resources
John Ripperton 57 2006 Senior Vice President - Supply Chain Management
Martin Moad 54 2007 Vice President, Controller
Daniel Feehan 60 Presiding Director
Jack Messman 71 1993 Independent Director
Thomas Plaskett 67 1986 Independent Director
Frank Belatti 63 1998 Independent Director
Edwina Woodbury 59 1998 Independent Director
H. Eugene Lockhart 61 2003 Independent Director

100 Throckmorton Street
Suite 1800
Fort Worth, Texas 76102

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