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| Hastings Entertainment Goes
Coast-to-Coast; Opens Superstore In Rocky Mount, N.C. |
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AMARILLO, Texas, June 23, 1999--Hastings
Entertainment, Inc. (NASDAQ: HAST - news), a leading multimedia entertainment superstore
and Internet retailer, today announced that it opened its 132nd superstore in Rocky Mount,
N.C. The new 23,000-square-foot store, the first Hastings location on the East Coast, will
feature:
- Customized inventory in multiple entertainment formats, including
about 40,000 book titles, 20,000 music selections, 6,000 videocassettes and video games,
800 DVD-format titles, 2,000 periodicals, 1,500 software titles, and 1,500 complementary
products, including clothing, greeting cards and stationery products, for sale at
discounted prices;
- Over 15,000 videocassettes, video games and DVDs available for rent;
- Extensive childrens product section, including free rentals on
childrens videos and regular StoryTime;
- Financial commitment to the literacy campaign in the local community;
- Employment for about 45 to 50 associates, primarily from the Rocky
Mount area.
Founded in 1968, the company has steadily and profitably built its
store base to 132 superstores that are located primarily in small to medium-sized markets
in 20 states across the country.. Each Hastings store averages 21,200 square feet, for a
total of almost 2.8 million square feet of retail space under lease. The company plans to
have about 170 superstores open by the end of fiscal 2000.
"Each superstore offers our customers a wide range of
entertainment products in a single location, whether they are browsing for a 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," said John H.
Marmaduke, chairman and chief executive officer. "We are proud to now offer our
entertainment products coast-to-coast."
Hastings stores are designed to be fun and informative gathering
places for 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, childrens play areas and
in-store promotional events.
Hastings also operates http://www.gohastings.com,
an e-commerce Internet Web site that makes available to our customers more than 10 million
new and used entertainment products and unique, contemporary gifts and toys. The site
features exceptional product and pricing offers, including best-selling books at up to 50
percent off list price. In addition, investors and customers can review general and
financial information about Hastings at this Web site. |
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