Court Rules for RadioShack Brand
Fort Worth, Texas, RadioShack Corp. said a district court today ruled that the Fort Worth, Texas-based chain was within its rights to terminate its license, merchandising and advertising agreements with InterTan, Inc., a wholly owned subsidiary of Circuit City Stores Inc. InterTan must stop using the RadioShack brand name in store signage, packaging, products and advertising for company-owned and dealer stores in Canada.
The effective date of the terminations was Dec. 31, 2004. InterTan operates 980 company-owned and dealer stores in Canada, and continued to license RadioShack’s name and purchase private-label merchandise after RadioShack spun off the operations in 1987, the company said.
Australia’s Foodland Up For Sale
Melbourne, Australia, Australian grocer Foodland Associated Ltd. put itself up for sale after Metcash Trading Ltd. made a hostile bid for the company, according to a Wall Street Journal report. Foodland is in discussions with several other suitors.
Foodland may consider selling its New Zealand assets separately. The grocer previously had announced plans to spin off its plum New Zealand business by August. Australian retail bruisers Coles Myer Ltd. and Woolworths Ltd. are rumored to be interested in Foodland’s New Zealand business, but both have declined comment.
Ultimate Electronics Plans Closings
Denver, Ultimate Electronics plans about 30 store closings, about half the number of its total store count of 62. The chain will leave markets in Iowa, South Dakota, Texas and Utah and Kansas City, Missouri, when the closings are completed by June 30. About 900 employees will lose their jobs through the closings, and another 65 employees of the central office will be terminated.