Word: shacked
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...channels to supplement the 23 already crowded by 7.8 million licensed CBers. Although retailing biggies like Sears, Roebuck will gain much from demand for the new, higher-capacity radios, the firm that stands to benefit most is a fast-growing Texas-based chain of consumer electronics stores called Radio Shack...
...ubiquitous (more than 5,000 U.S. and Canadian outlets) Radio Shack claims 15% of the market in Citizens Band radio equipment; CB enthusiasts accounted for almost 25% of the chain's $742 million in revenues last year. Experts forecast sales this year of at least ten million of the new CB models, and Radio Shack is set to take home to its parent, Tandy Corp. of Fort Worth, an increasing share of the industry's profits. With its sales of hi-fi and stereo equipment also booming, the chain is expanding at a pace that puts it further and further...
...driving force behind Radio Shack's success is Tandy Corp.'s chairman and president Charles D. Tandy, 58, a Texan who attended Harvard Business School, sold war bonds while serving in the Navy, then went into the family leather-goods business at the end of World War II. He bought the small Boston-based Radio Shack chain 13 years ago, when it was $1.5 million in debt...
...live for and will die for this work," says Tandy, who talks with a kind of cultivated Texas swagger. "If they don't want to do that, then beat it. Let them work for Sears." The system has produced managers such as C.L. Whitfield of the Guam Radio Shack, who journeyed to Japan to pick up new 40-channel CB radios so he could be the first to sell them on U.S. soil Jan. 1?which was still Dec. 31 on the mainland...
Tandy's formula has worked. After a decade of solid but fairly slow growth, the chain suddenly took off; between 1972 and 1976 the number of stores more than tripled. During the company's fiscal year ending last June, profits rose 120%, to $64 million. Radio Shack indeed has almost taken over its parent firm. Tandy Corp. has spun off most of its other businesses into separate companies chaired by Charles Tandy, and now has only minor operations other than Radio Shack...