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| Hastings Entertainment to Open in
Midwest City, Okla. |
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AMARILLO, Texas, Jan. 21, 1999--Hastings
Entertainment, Inc. (NASDAQ: HAST - news), a leading multimedia entertainment superstore
retailer, today announced it will open a new superstore in Midwest City, Oklahoma.
Expected to open in the Spring of 1999, features of the store will include:
- 24,750 square foot community entertainment center located at 1700
East College Ave.
- Customized inventory in multiple entertainment formats, including
40,000 book titles, 20,000 music selections, 6,000 videotapes and video games, over 800
titles in the new DVD format, 2,000 periodicals, 1,500 software titles, and about 1,500
complementary items--such as clothing, greeting cards and stationery products--for sale;
- At discount prices, over 15,000 videotapes, video games and DVDs for
rent
- Free rental on children's videos and extensive children's product
section, with regular story time
- Employment of 50 to 60 individuals is expected
- Financial commitment to the literacy campaign in the local community.
Whether browsing for that special book, sampling the latest music in
the broad genre offering, selecting a current periodical or simply searching for a rental
video for a comfortable evening at home, Hastings has it all in one location.
"We are deeply committed to our corporate mission of satisfying
our guests' desires for personal entertainment and information through total customer
satisfaction. This is exceptionally important as we open our first superstore in
Illinois", said John H. Marmaduke, chairman and chief executive officer. "We
have designed our stores to be fun and informative gathering places for our customers to
shop, offering such amenities as free gourmet coffee, comfortable chairs for reading, CD
listening stations, video game preview stations, interactive information kiosks,
telephones for free local calls, children's play areas and in-store promotional
events".
Celebrating its 30th year in entertainment retailing, Hastings
currently operates 129 superstores in 18 states, with more than 2.7 million square feet of
retail space. It has steadily and profitably built its base of superstores, which average
21,200 square feet per unit, since developing and implementing the entertainment
superstore format in 1991.
Hastings also operates www.hastingsentertainment.com,
one of the largest fully integrated multimedia entertainment e-commerce Internet Web
sites. The site offers a broad selection of books, music, software, videotapes and video
games to the electronic global marketplace at prices equal to or less than other
electronic retailers. General financial information about Hastings is available to
investors and customers via the Internet at this site.
Certain statements set forth above are forward-looking statements
within the meaning of the Securities Exchange Act of 1934. Such statements are based upon
management's current expectations and are subject to a number of factors and uncertainties
which could cause actual results to differ materially from those described herein. The
forward-looking statements set forth above are subject to the factors and uncertainties
set forth under the heading "Risk Factors" in the Company's Registration
Statement on Form S-1 as filed with the SEC and declared effective on June 11, 1998. |
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