SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
May 13, 1999 (Date of earliest event reported)
May 14, 1999 (Date of Report)
TANDY CORPORATION
(Exact name of registrant as specified in charter)
Delaware 1-5571 75-1047710
(State or other (Commission (IRS Employer
Jurisdiction of File Number Identification No.)
Incorporation)
100 Throckmorton Street Suite 1800, Fort Worth, Texas 76102
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (817) 415-3700
<PAGE>
Item 5. OTHER EVENTS
The text of a press release issued by Tandy Corporation (the "Company")
on May 13, 1999 is set forth below:
RADIOSHACK AND THOMSON CONSUMER ELECTRONICS
ANNOUNCE AUDIO/VIDEO ALLIANCE
Partnership Forms RCA Digital Entertainment Center at RadioShack
NEW YORK, May 13, 1999 -- RadioShack, the retail operating format of
Tandy Corporation (NYSE: TAN), and Thomson Consumer Electronics announced today
a new strategic alliance that will allow consumers to purchase a full range of
RCA-branded audio/video products through RadioShack stores and participating
dealers across the U.S. The two companies will develop a new
store-within-a-store concept in RadioShack that will be branded the RCA Digital
Entertainment Center at RadioShack.
"This is a powerful strategic alliance that solidifies yet another
piece of our home connectivity strategy, giving RadioShack the clear advantage
in deploying digital entertainment devices to the 80 million living rooms across
America," said Leonard Roberts, Chairman-elect, President and CEO of Tandy
Corporation/RadioShack. "As the pre-eminent manufacturer of digital convergent
devices, RCA has the brand recognition and leadership position to further propel
RadioShack as we lead the way in connecting America's homes to state-of-the-art
digital audio/video products and services, the latest computer advances and
high-speed bandwidth technology. Our ubiquitous market presence and ability to
demystify technology for the mass market, coupled with RCA's name brand
products, will give us unparalleled strength to aggressively grow this segment
of our business in the near term."
Thomson's ability to provide the latest digital products to its
customers in a convenient, familiar RadioShack store in their own neighborhood
will also be enhanced. Today, consumers can already find digital products like
DVD and RCA DIRECTV systems in RadioShack stores throughout the country. Within
12-18 months, consumers will also be able to purchase High-Definition Television
and a complete line of RCA-branded audio products through their local
neighborhood store.
"Thomson and the RCA brand are committed to the success of this
strategic alliance with Tandy/RadioShack and are prepared to dedicate the
resources and energy necessary to ensure the success of the RCA Digital
Entertainment Center at RadioShack," said James E. Meyer, Executive Vice
President and Chief Operating Officer. "We believe that this venture will
significantly strengthen both companies in terms of consumer awareness and
retail leadership as well as future growth and shareholder value."
Both Tandy Corporation/RadioShack and Thomson Consumer Electronics have
a long and rich heritage, and each company has, in recent years, re-invented
itself to take advantage of the convergence of digital technologies and the new
demands of the marketplace for hardware, high-speed communications and superior
quality home entertainment.
RadioShack's newest alliance is the latest in a series that includes
The Sprint Store at RadioShack and the Compaq Creative Learning Center. Both of
these partnerships have boosted sales and further positioned RadioShack as a
leader in the consumer electronics market place.
Design of the RCA Digital Entertainment Center at RadioShack will be
completed later this year, and the store build-out will begin in early 2000. By
the second quarter of 2000, there will be an RCA store-within-a-store in at
least 4,000 company-owned stores, with additional stores added throughout the
remainder of next year. RadioShack and Thomson also plan an aggressive marketing
and advertising program to support the store launch. Tandy
Corporation/RadioShack
Tandy Corporation/RadioShack is the nation's largest consumer
electronics chain and one of the most trusted electronics retailers in the
United States. RadioShack sells more wireless telephones, telecommunications
products and electronic parts and accessories than any other retailer. It is
estimated that 94 percent of Americans 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.
Thomson Consumer Electronics
Thomson Consumer Electronics is a subsidiary of Thomson Multimedia
which ranks first in the U.S. and fourth in the world in sales of consumer
electronics products. With the flagship RCA and THOMSON brand names, Thomson
manufactures and markets color TVs, VCRs, digital satellite receiver/decoders,
digital cable modems, DVD players, camcorders, home audio systems, telephones,
and a myriad of accessories. Thomson also markets under the popular GE, PROSCAN,
TELEFUNKEN, and SABA brands in the Americas, Europe, and Asia.
Thomson Multimedia is the world's largest supplier of large and very
large color TV picture tubes and is actively developing new digital
entertainment products that will allow consumers to interact with new media
through the Internet and other digital systems. For more information about RCA
consumer electronics products, visit our website at www.rca.com.
END OF TEXT OF PRESS RELEASE
In the press release set forth above, the Company makes certain
forward-looking statements. These statements are based on the Company's current
expectations and are subject to a number of risks and uncertainties that could
cause actual results in the future to differ significantly from results
expressed or implied in any forward-looking statements made by or on behalf of
the Company. These risks and uncertainties include uncertainties regarding the
extent of consumer demand for digital audio/visual products and services, and
the risks associated with newly-established strategic alliances. Additional
risks are set forth in more detail in the Company's Annual Report on Form 10-K
for the year ended December 31, 1998 and the Company's Quarterly Report on Form
10-Q for the calendar quarter ended March 31, 1999.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized this 14th day of May, 1999.
TANDY CORPORATION
(Registrant)
Date May 14, 1999 Mark C. Hill
Senior Vice President, Corporate Secretary
and General Counsel
