New move at Tandy's flagship; chief is tightening grip at Radio Shack
Article Abstract:
Tandy Corp's chairman and CEO John V. Roach is under strong pressure to resuscitate the generally flat sales of the company's flagship, Radio Shack. Bernard S. Appel, Radio Shack chairman and Tandy senior VP has announced his retirement, effective Jun 1993. Radio Shack, a nationwide chain of more than 6,000 consumer electronics stores, has contributed to Tandy's financial troubles of the past four years. Tandy's stock fell to its lowest level in summer 1992 but has risen 33 percent since then, closing at the New York Stock Exchange on Apr 16, 1993 at $29.625. In trying to revive Tandy's profitability, Roach decided to divest its manufacturing operations and focus on retailing through Radio Shack, Computer City and Incredible Universe. Radio Shack is estimated to account for about 60 percent of Tandy's sales of $4.7 billion in FY 1992.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1993
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Dell Computer reports on S.E.C. inquiry
Article Abstract:
Dell Computer Corp announces its foreign-exchange trading activities from Mar 1991 to Feb 1993 would have produced a net profit of $1 million if the transactions had been listed quarterly at current market values. The announcement just after the US Securities and Exchange Commission finished a two-month investigation of the company's accounting of its trading practices. While the SEC did not order Dell to restate its earnings for the 23 months, it did require the computer maker to report in detail to investors the financial impact of the trades. The controversy over the currency trading has led Dell to put off a $150 million offering of 4 million shares of common stock, originally planned for Dec 1992. Dell's stock has risen nearly 30 percent since the controversy arose, closing up $1.875 on Feb 1, 1993, to $48.125.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1993
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Comment about this article or add new information about this topic:
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