whoop'de'doo!
PR NEWSWIRE) CompUSA Inc. Launches Online Auction Site; Computer Supersto
CompUSA Inc. Launches Online Auction Site; Computer Superstore Offers Clearance
Items to Highest Bidder
DALLAS, June 7 /PRNewswire/ -- CompUSA Inc. (NYSE: CPU), America's Largest
Computer Superstore(R) retailer, today announced the official launch of an
online auction site, www.CompUSAauctions.com. The new site will provide
CompUSA customers with additional purchasing options by allowing them to place
electronic bids on clearance items from an extensive variety of personal
computers, peripherals, accessories and related technology devices.
"This exciting new service will allow us to automate our clearance process
while offering online customers great values," said James F. Halpin, president
and CEO. "Most of the auction items will come from returns to our commercial
sales division and are brand-new, still in the box, and we also offer
manufacturer closeouts, discontinued merchandise, and refurbished products.
Previously, we sold such items to brokers, but now our customers will be able
to set their own prices on a broad variety of quality products."
CompUSA worked with FairMarket, Inc., a leading provider of auction
technology and services, to develop the site. Visitors to the auction may
enter individual bids and specify acceptable quantities. An automated bidding
feature allows a user to set a maximum bid price and the software will
continue to enter the lowest possible winning bid until the user wins or has
reached the specified maximum. Auction participants may view an auction's bid
history online at any time to determine if they are winning or losing, and
bidders also receive e-mail notifications of their bid status. Additionally,
an "auction agent" is incorporated into the site to notify users when
specially-requested products become available.
"Online auctions are becoming very popular and are attracting new users
every day," said Scott T. Randall, FairMarket founder and chief executive
officer. "CompUSA is one of the nation's leading retailers and resellers of
personal computers and we are pleased that they have joined our fast-growing
client list."
Merchandise purchased on the auction site may not be returned to CompUSA
retail stores. The CompUSA auction site is not affiliated with CompUSA's
Internet sales subsidiary, CompUSA Net.com Inc.
About FairMarket
FairMarket, Inc., founded in 1997 and based in Woburn, Mass., is a leading
provider of auction solutions for businesses and consumers. The company's
flagship services, Merchant AuctionPlace and Community AuctionPlace, provide a
private label, customized auction that enables customers to generate revenue
from monetizing traffic, acquire and retain more registered members, and
increase page views. FairMarket can be reached at 781-935-7090, or via the
Web at www.fairmarket.com.
About CompUSA
CompUSA Inc. (www.CompUSA.com) is one of the nation's leading retailers
and resellers of personal computers and related products and services.
CompUSA Inc. currently operates 211 CompUSA Computer Superstores in 79 major
metropolitan markets across the United States that serve retail, corporate,
government and education customers and include technical service departments
and classroom training facilities. CompUSA also offers its own build-to-order
personal computer series, the CompUSA PC(TM).
This news release contains forward-looking statements about the business,
financial condition, and prospects of the Company. The actual results of the
Company could differ materially from those indicated by the forward-looking
statements because of various risks and uncertainties, including without
limitation, changes in product demand, the availability of products, changes
in competition, economic conditions, various inventory risks due to changes in
market conditions and other risks indicated in the Company's Securities and
Exchange Commission filings and reports. The Company's focus on its Internet
business through its CompUSA Net.com subsidiary involves significant
additional risks, including without limitation, failure to achieve customer
acceptance and potential significant capital investments that may be required
to be made by the Company. All of the foregoing risks and uncertainties are
beyond the ability of the Company to control, and in many cases, the Company
cannot predict the risks and uncertainties that could cause its actual results
to differ materially from those indicated by the forward-looking statements.
When used in this news release, the words "believes," "anticipates,"
"expects," "plans" and similar expressions as they relate to the Company or
its management are intended to identify forward-looking statements.
SOURCE CompUSA Inc.
-0- 06/07/99
/CONTACT: Suzanne Shelton, Director of Public Relations of CompUSA Inc.,
972-982-4181; or Traci VanHorn, Director of Public Relations of FairMarket,
Inc., 781-935-7090 x1149/
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 804625/
/Web site: fairmarket.com
/Web site: compusa.com
/Web site: compusaauctions.com
(CPU)
CO: CompUSA Inc.; FairMarket, Inc.
ST: Texas
IN: CPR MLM
SU: PDT
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