G'day all - it looks like TWMC is gonna to spend some $ to ramp up the net strategy aferall.
biz.yahoo.com
[full text below]
Monday May 3, 10:07 am Eastern Time
Company Press Release
Trans World Entertainment Forms Relationship With Yahoo!
Innovative Marketing and Merchandising Concept 'Yahoo! Picks'
Benefits Both Online and Traditional Retail Consumers
ALBANY, N.Y.--(BUSINESS WIRE)--May 3, 1999-- Trans World Entertainment Corporation (Nasdaq National Market: TWMC), a leading retailer of entertainment products, today announced that it has formed a relationship with Yahoo! Inc. (Nasdaq: YHOO - news), a leading global Internet media company. The relationship will incorporate an innovative marketing and merchandising concept created by Yahoo! called ''Yahoo! Picks'' that allows consumers to determine what products will be highlighted within Trans World's retail stores. This relationship leverages the highly recognizable brand names of both companies to benefit both online and traditional retail customers.
Each month, through the Yahoo! Picks campaign, Yahoo!® users will have an opportunity to participate in online pollsavailable on Yahoo! Movies (http://movies.yahoo.com) and Yahoo! Games (http://games.yahoo.com). The following month, the top five picks from each poll will be displayed with ''Yahoo! Picks'' stickers and additional signage in Trans World's retail stores. Customers who purchase a designated number of Yahoo! Picks titles will receive a complimentary Yahoo! gift.
''This is a case where everybody wins,'' said Robert J. Higgins, chairman and chief executive officer of Trans World Entertainment. ''Developing this relationship with Yahoo! further solidifies Trans World's commitment to building our presence on the Internet while maintaining our stature as one of the leading retailers of entertainment product in the nation. Yahoo! Picks incorporates Yahoo!'s reputable brand strength into our retail outlets through an innovative marketing and merchandising concept that allows users to actually determine for themselves the designated titles in our stores. We believe this will help us to build long-standing relationships with the growing Internet consumer audience as well as
establish our site as a leading e-commerce source for video, DVD and other entertainment products.''
''This relationship with Trans World enhances the user experience both online and offline, giving consumers expanded entertainment information, relevant purchasing options and Net events that complement our existing offerings on Yahoo! Entertainment and Yahoo! Games,'' said Ken Grouf, senior brand manager, Yahoo! Inc. ''The Yahoo! Picks concept is the ultimate focus group for these entertainment categories, as it provides users the ability to tell us what they want and allows us to further customize promotions and merchandising programs to more closely meet their demands.''
In addition to Yahoo! Picks, Trans World Entertainment will sponsor events on Yahoo! Chat (http://chat.yahoo.com), provide top video and movie releases for the week to Yahoo! TV Coverage (http://tv.yahoo.com) and Yahoo! Video Shopping (http://shopping.yahoo.com/video), as well as supply recommendations of the most popular video games to Yahoo! Games. Trans World will also run banner advertisements throughout the Yahoo! network of properties, including Yahooligans! (www.yahooligans.com), Yahoo!'s Web site for kids, with links to Trans World's e-commerce site,
www.twec.com, where users can purchase products.
Trans World will also participate in Yahoo! Birthday Club, a Fusion Marketing Online initiative developed by Yahoo! designed to increase marketing efficiencies while respecting user privacy and minimizing interruptions in the online experience. Through this program, Yahoo! will distribute direct e-mail advertisements to Yahoo! registered users who have opted to receive information on special offers.
Yahoo! Movies and Yahoo! TV Coverage are part of Yahoo! Entertainment (http://entertainment.yahoo.com), a comprehensive, personalized and expansive single source for movies and television news and information - in one easy-to-find location. Yahoo! Games offers 17 free classic Java board, card and word games, news, reviews, ratings, screenshots and a suite of tools to enable online players to connect and communicate with each other. All are part of the Yahoo! global network of properties.
Trans World Entertainment is a leading specialty retailer of music and video products. The Company operates retail stores in 44 states, the District of Columbia, the U.S. Virgin Islands and an e-commerce site, www.twec.com. Mall locations include Camelot, Record Town, Saturday Matinee and F.Y.E. Freestanding locations include Coconuts Music and Movies, Strawberries Music, Spec's and Planet Music.
Certain statements in this report set forth management's intentions, plans, beliefs, expectations or predictions of the future based on current facts and analyses. Actual results may differ materially from those indicated in such statements. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission.
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