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| Hastings Entertainment Receives 1998
Retailer Of The Year Award In The Large Retailer Category From The Video Software Dealers
Association (VSDA) |
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AMARILLO, Texas, July 9, 1998--Hastings Entertainment, Inc. (NASDAQ: HAST),
a leading multimedia entertainment superstore retailer, today was awarded the Video
Software Dealers Association's (VSDA) Retailer of the Year Award in the Large Retailer
Category (more than 25 stores) at the annual convention of the home video industry in Las
Vegas. The VSDA gives the award annually to the outstanding retailer in each of three
categories, based on the number of retail locations operated. |
John Marmaduke, Hastings chairman and chief executive officer, received the
award during the Business Session of the VSDA Convention from Mitch Lowe, VSDA's chairman
emeritus. In presenting the award, Lowe noted that, "The award is given annually to
outstanding retailers who demonstrate the unique vision and determination to make their
stores stand out in their communities and in the industry. The imagination and innovation
found at these retailers' stores are a daily reminder of how exciting and satisfying a
trip to the neighborhood video store can be. Today we applaud their enterprise and
success." |
"Hastings pioneered the multimedia entertainment superstore concept as
the best way to serve important small and midsize markets that make up middle America and
represent a significant percentage of the population not reached by other entertainment
retailers", said Marmaduke. "For the past 30 years, we have committed ourselves
as a company to be an innovative leader in providing the products and services required to
satisfy the needs of our customers in the communities we serve. Our stores are fun and
informative gathering places for our customers to shop, and an important reason for the
success of our concept is our total commitment to our customers' satisfaction through a
superior combination of value, selection, service, convenience and merchandising" |
Established in 1981, the VSDA is a not-for-profit international trade
association representing more than 3,500 companies throughout the United States, Canada
and 22 other countries. Membership comprises the full spectrum of video retailers, as well
as the home video divisions of all major and independent motion picture studios, video
game and multimedia producers, and other related businesses which constitute and support
the home video entertainment industry. In the U.S., the home video industry is a $16
billion industry, of which about $9 billion is related to the video rental segment of the
industry. |
Hastings is a leading multimedia entertainment retailer that combines the
sale of books, music, software, periodicals and videotapes with the rental of videotapes
and video games in a superstore format. Founded in 1968, the Company currently operates
120 superstores, averaging 21,200 square feet, primarily in small to medium-sized markets
in the Midwestern and Western United States. |
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