Shack Attack!

RadioShack Corp. (Fort Worth, Texas) has announced a three-year strategic growth plan aimed at reinvigorating its retail experience and capitalizing on new initiatives that leverage the company's retail expertise.

Beginning in 2005, the company will be executing a multi-faceted growth plan that includes: the accelerated roll out of its latest retail store format; international geographic expansion in North America; third-party retailing; and a new retailing services business that leverages RadioShack's existing infrastructure to provide services for other companies such as kiosk operations, wireless repair and global sourcing.

“Over the past couple of years, we have focused on the fundamentals of our business by strengthening our supply chain, divesting ourselves of non-core businesses and becoming a more disciplined organization,” said chairman and ceo Leonard Roberts. “We are now well positioned to implement a longer-term growth plan that we believe will bring increases in both our top line and bottom line.”

The consumer electronics retailer said it will “significantly accelerate” the rollout of its latest retail store format from approximately 400 stores today. The new store environment will be accompanied by a merchandise and service assortment that disproportionately favors the seven best categories — wireless, accessories, power, modern home, personal electronics, technical and services. Also, store personnel will be retrained and new store processes will be deployed.

“Customers have given us very positive feedback on our new store environment,” said Roberts. “Combined with a relevant market-by-market product assortment and overall operating improvements, we expect that the new format will produce greater financial returns and enhance the power of the RadioShack brand.”

RadioShack will also expand its retail store base internationally, beyond the U.S. and Mexico, where it operates through a joint venture with Mexico-based retailer Gigante.