Tandy is officially changing its name to RadioShack Corporation.
Calling it a vote of confidence in the future of its CE chain and an opportunity to capitalize on a proven brand, Tandy said it has filed the proposed name change with the Securities and Exchange Commission, and will seek final stockholder approval on May 18.
"The reason we want to change the name is simple," said CEO Len Roberts. "Tandy is RadioShack and RadioShack is Tandy. RadioShack 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."
Roberts said the company would carry the heritage of founder Charles Tandy by keeping his name on its headquarters building in Fort Worth, Texas. "The legacy of our founder will not be erased nor forgotten," Roberts said, citing Tandy's "incredible" skill as a salesman and merchant, and his prescient move into electronics retailing.
Tandy, which began in 1919 as a leather craft mail order business, purchased Boston's nine-store RadioShack chain in 1963. The company has since spun off the leather goods unit into a separate company, and has closed, sold or cut back other operations including Incredible Universe, Computer City and McDuff in order to focus on its core RadioShack property.