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| Hastings Entertainment Opens New
Store In Liberal, Kansas, The Ninth Store In The State, Bringing Company Total to 144
Stores |
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| AMARILLO, Texas, September 26, 2000--Hastings
Entertainment, Inc. (NASDAQ: HAST), a leading multimedia entertainment superstore and
Internet retailer, today announced the opening of its ninth Kansas store in Liberal
expanding the chain to a total of 144 superstores in 22 states. Hastings Entertainment serves primarily medium to smaller-sized markets
across America. The new Liberal store, located in the dominant shopping area of town, is
approximately 17,200 square feet in size and features:
- Customized inventory in multiple entertainment
formats, including about 30,000 book titles, 20,000 music selections, 6,000 videocassettes
and video games, 400 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 10,000 videocassettes, video games and DVDs
available for rent;
- Extensive children’s product section, including
free rentals on children’s videos and regular StoryTime;
- Financial commitment to the literacy campaign in the
local community;
- Employment for about 30 to 35 employees, primarily
from the market where the store operates.
“The Hastings’ store offers a wide range of
entertainment products in a single location and reflects our commitment to satisfying our
customers’ desires for personal entertainment and information,” said John H.
Marmaduke, chairman and chief executive officer. “Because we believe that our stores
should be fun and informative gathering places for our customers to shop, we offer 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.”
Marmaduke continued, “Liberal, with over 40,000
residents in its five state trade area, is ideal for the Hastings’ model and reflects
our intention to expand in states and locations where the Company is well
recognized.”
Hastings also operates
www.gohastings.com, an e-commerce Internet Web site that makes available to its
customers new and used entertainment products and unique, contemporary gifts and toys. The
site features exceptional product and pricing offers. In addition, investors and customers
can review general and financial information about Hastings at this Web 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 Hastings
Entertainment management’s current estimates, assumptions and 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
Securities and Exchange Commission and declared effective on June 11, 1998, and the
company’s annual and quarterly reports on file with the SEC.
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