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| Hastings Entertainment Opens 133rd
Superstore In Richmond, KY. |
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AMARILLO, Texas, June 30, 1999--Hastings
Entertainment, Inc. (NASDAQ: HAST), a leading multimedia entertainment superstore and
Internet retailer, today announced that it has opened its 133rd superstore in Richmond,
Ky. The new 22,468-square-foot community entertainment center is the second Hastings
superstore in Kentucky. It 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 employees, primarily from the Richmond
area.
Hastings, established in 1968, has since steadily and profitably
built its store base to 133 superstores that are located primarily in small to
medium-sized markets in 20 states across America. Hastings stores average 21,200 square
feet, for a total of almost 2.8 million square feet of retail space under lease. The
company is accelerating its growth programs and plans to have about 170 superstores open
by the end of fiscal 2000.
"The Richmond 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. "Every store that we open reflects
our total commitment to satisfying our guests desires for personal entertainment and
information. We are excited to open a second superstore in Kentucky."
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 www.gohastings.com,
an e-commerce Internet Web site that makes available to 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% off list
price. In addition, investors and customers can review general and financial information
about Hastings at this Web site. |
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