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| Hastings Entertainment Opens Four
Superstores In Lubbock, Texas; Auburn, Al.; Springfield, Il., And Gillette, Wy., As Fiscal
1999 Expansion Remains On Schedule |
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AMARILLO, Texas, Oct. 7, 1999--Hastings Entertainment,
Inc. (NASDAQ: HAST), a leading multimedia entertainment superstore and Internet retailer,
today announced the openings of four new superstores that expand the chain to a total of
142 superstores in 21 states. The newly opened stores are located in Lubbock, Texas;
Auburn, Ala.; Springfield, Ill., and Gillette, Wyo. Another seven superstores are
scheduled to open by the end of fiscal 1999, for a year-end total of 149 stores serving
primarily small and medium-size markets across America. Hastings Entertainment superstores, which average 21,500 square feet,
typically featuare:
- 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 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 45 to 50 employees, primarily from the markets
where the stores operate.
"These new stores offer our customers a wide range of
entertainment products in a single location and reflect our total commitment to satisfying
our guests’ 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."
Hastings also operates www.gohastings.com,
an e-commerce Internet Web site that makes available to our customers 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.
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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