-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OeJwe/SIrP5cUWzIiNbZBtkAEXuIDz9ljG9Xl0x4DgilwMCVOJSsm4mTsA6jL7xg 9eq9/oRFOOmdd7kTr6iJnw== 0000096294-98-000033.txt : 19981021 0000096294-98-000033.hdr.sgml : 19981021 ACCESSION NUMBER: 0000096294-98-000033 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981020 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19981020 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: TANDYCRAFTS INC CENTRAL INDEX KEY: 0000096294 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS SHOPPING GOODS STORES [5940] IRS NUMBER: 751475224 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-07258 FILM NUMBER: 98728039 BUSINESS ADDRESS: STREET 1: 1400 EVERMAN PKWY CITY: FORT WORTH STATE: TX ZIP: 76140 BUSINESS PHONE: 8175519600 MAIL ADDRESS: STREET 1: 1400 EVERMAN PKWY CITY: FORT WORTH STATE: TX ZIP: 76140 8-K 1 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 Date of Report: October 20, 1998 Date of Earliest Event Reported: October 15, 1998 TANDYCRAFTS, INC. A DELAWARE CORPORATION 1-7258 75-1475224 ------ ---------- (Commission File Number) (IRS Employer Identification No.) 1400 Everman Parkway Fort Worth, Texas 76140 (817) 551-9600 ITEM 5. OTHER EVENTS ------------ (a) On October 15, 1998, Registrant issued a press release announcing the opening of the first prototype renovation of its Tandy Leather & Crafts retail concept. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS --------------------------------- (c) Exhibits. -------- Exhibit Number Description ------- -------------------------------------- 99 Copy of press release announcing the opening of the first prototype renovation of its Tandy Leather & Crafts retail concept. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf of the undersigned thereunto duly authorized. TANDYCRAFTS, INC. Date: October 20, 1998 By:/s/ Michael J. Walsh ---------------- --------------------- Michael J. Walsh President Date: October 20, 1998 By:/s/ James D. Allen ---------------- --------------------- James D. Allen Chief Financial Officer EX-99 2 For Immediate Release TANDYCRAFTS, INC. OPENS PROTOTYPE RENOVATION FOR TANDY LEATHER & CRAFTS STORES EXPANDED PRODUCT LINE SHOULD BROADEN DEMOGRAPHIC APPEAL, ATTRACT MORE WOMEN, FAMILIES TO STORES FT. WORTH, Texas (October 15, 1998) -- TANDYCRAFTS, INC. (NYSE: "TAC") today announced the opening of the first prototype renovation of its Tandy Leather & Crafts retail concept. The renovated store is located in the Medallion Shopping Center in Dallas, Texas, and is one of five Tandy Leather & Crafts stores located in the Dallas-Ft. Worth area. The first Tandy Leather & Crafts store was opened by Charles Tandy in Fort Worth, Texas in 1919 and the chain has evolved into the major leathercraft supplier to a number of diverse customer groups. Today, there are approximately 122 company-owned stores operating in 41 states and another 100 authorized dealers worldwide. In accordance with Tandycrafts' strategic focus to increase same-store sales and broaden the customer base for this retail concept, the renovated Tandy Leather & Crafts store has been redesigned to include a broader line of merchandise and more effective in-store display and merchandising fixtures. Ready-made products have been added to complement traditional do-it-yourself leather kits, more effective packaging has been developed to enhance the "shelf appeal" of store merchandise, and the store has been redesigned to broaden its appeal to women and families. Historically, Tandy Leather & Crafts stores have catered primarily to serious hobbyists, boys' and young mens' organizations (e.g., YMCA Indian Guides, Boy Scouts), and industrial arts/crafts programs at schools, hospitals, prisons and recreational organizations. "Tandy Leather has developed strong brand loyalty among its traditional customer base, but the concept has changed little in the past thirty years and has not adapted to an evolving retail environment," observed Michael J. Walsh, President and Chief Executive Officer of Tandycrafts, Inc. "We are in the process of revitalizing our entire Company, and in addition to an improved store design and enhanced computer systems, we will be relocating a number of Tandy Leather & Crafts stores to better and more accessible retail locations during the next several years." "By expanding the demographic appeal of our Tandy Leather & Crafts retail outlets, we should also enhance the stores' ability to sell kits and craft supplies which are produced by our manufacturing division," continued Walsh. "Tandycrafts currently manufactures thousands of leather products and craft supplies, including drums, tepees, suede vests, wallets, belts and home decor items. We have the production capacity and supplier relationships to support a significant increase in manufacturing output for our retail stores and mail order division." Tandycrafts, Inc. manufactures, distributes and/or retails products through four distinct product-related divisions: Frames and Wall Decor, Leather and Crafts, Office Supplies, and Novelties and Promotional. Its products are marketed and sold through various channels, including direct-to-consumer (e.g., retail stores, mail order, the Internet) and wholesale distribution (e.g., direct sales force, telemarketing, outside sales representatives). The Company is headquartered in Ft. Worth, Texas and its common stock is listed on the New York Stock Exchange under the ticker symbol "TAC". This press release includes statements that may constitute "forward- looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. For further information, please contact: James Allen, Chief Financial Officer at (817) 551-9600 or R. Jerry Falkner, CFA, Investor Relations Counsel at (800) 377-9893 -----END PRIVACY-ENHANCED MESSAGE-----