(BSNS WIRE) Planet Entertainment Corp. Announces Lauch of Its Business t
Planet Entertainment Corp. Announces Lauch of Its Business to Business Web Site
Business Editors
MIDDLETOWN, N.J.--(BUSINESS WIRE)--Dec. 22, 1999--Planet
Entertainment Corp. (OTCBB: PNEC) announced today that its wholly
owned subsidiary, Northeast One Stop (NEOS), has opened its business
to business website at www.neoneb2b.com. Planet's wholesale website
(www.neoneb2b.com) is devoted to NEOS customers. The site will be used
as an order entry tool for wholesale business customers and affiliated
Internet based customers. At the heart of the site is the MUZE
searchable database, a powerful search engine tool that quickly
returns information on a massive catalog of Pop, Rock, Jazz, Country
and all other genres of music. The database contains hundreds of
thousands of artist names, album titles, millions of song titles as
well as MUZE album art. The database also includes a full-line of DVD
and music videos.
The Company recently announced an upgraded system of its
mainframe inventory and financial software package, replaced the
majority of its computer hardware with new LAN (Local Area Network),
and upgraded NEOS's warehouse carousel pick to light automation
system, which allows the Company to increase volume and carry
additional SKUs (Stock Keeping Units). A new software platform, the
NxTrend "Trend" system software package was installed, allowing NEOS
to simplify and expedite operations, improve productivity, and
integrate the Internet into daily operations. The new systems allow
the Company to seek additional revenue through larger mass merchants
with its upgraded EDI (Electronic Data Interchange) and ASN (Advanced
Shipping Notice) capabilities. The company believes that these new
systems also achieve year 2000 compliance.
The NEOS b2b site is designed with the customer in mind. Flexible
"fuzzy logic" searches allow users to input partial, or even incorrect
information and still get their desired result. Price information and
purchase options are listed with search results, making ordering
product simple and quick. A search engine based on NEOS's owns
accessory database features the same functionality as the main search
engine allowing customers to search for accessories (headphones,
record able CDs, blank video/audio tapes, and others) by
manufacturers, product category, or item.
In early 1999, NEOS expanded its SKU base to include a full line
of DVD product. While sales of this product line are not fully
maximized, industry trades are reporting hardware sales for this
format in numbers well beyond all previous projections and it is
expected that sales to consumers will follow. We expect 2000 to be a
breakthrough year for DVD sales and believe that we will participate
in that growth.
As a full line entertainment wholesaler, with new systems in
place, the company will concentrate on specific target groups of
potential new customers including large mass merchants, and export
customers. In addition to music and video retailers, the Company may
market music and video products to a variety of stores, including
those offering book and gift items. Additionally, NEOS has plans
during the year 2000 to open two additional satellite sales offices.
The Company currently has sales offices in New York, Vermont,
Pennsylvania, Maryland, Michigan and Florida and the distribution
facility in Latham, N.Y. The Company currently employs over 120
people.
During FYE 1999 NEOS began servicing several Internet retailers
such as Amazon.com (NASDAQ: AMZN), EveryCD.com, Tower Mailorder,
Internet Shopping Network (ISN), and CDUniverse (OTCBB: EUNI). With
new systems in place NEOS plans to concentrate on Internet
fulfillment, which is the fastest growing segment of the industry.
Special Note Regarding Forward Looking Statements: A number of
statements contained in this press release are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 that involve risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied in the applicable statements. These risks and uncertainties
include but are not limited to: the Company's vulnerability to rapid
industry change, technical obsolescence, limited customer base and
reliance on relatively a small number of its customers, the possible
impact of competitive products and pricing, uncertainties in the
duration of the life cycle of its products, manufacturing
difficulties, dependence on key personnel, market acceptance, reliance
on a limited number of outside vendors, potential difficulties,
managing growth, the ability to perform on existing and future
agreements, the availability of financing, and other risks all, or any
of which may have a material adverse impact on the company, its
business, business prospects, and financial condition.
--30--ajk/cgo*
CONTACT: Planet Entertainment, Middletown, N.J.
Ivy Ball, 732/530-8819
pnec@aol.com
KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: ENTERTAINMENT MUSIC ELECTRONIC GAMES/MULTIMEDIA
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