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Non-Tech : SME(svcdq) has it bottomed out yet? Or will it hit bottom?

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To: christopher who wrote ()9/1/1998 11:05:00 AM
From: leigh aulper   of 305
 
THINK THERE'S NOTHING NEW AT SERVICE MERCHANDISE COMPANY? LABOR DAY WEEKEND LAUNCH WILL ENTICE CUSTOMERS TO 'DISCOVER THE NEW MERCHANDISE

NASHVILLE, Tenn.--(BUSINESS WIRE)--Sept. 1, 1998--Service Merchandise Company (NYSE: SME) is inviting customers to discover a whole new shopping experience beginning this Labor Day weekend, as it officially launches its new self-service format and new merchandise assortment. This weekend marks the completion of the former catalog showroom's four-month transformation into a fresh new competitor in the home and fine jewelry retail sector and a renewed commitment to customer service.

To entice millions of customers to experience the new store, the Company is offering a $5 off coupon, with no minimum purchase required, in its promotional advertising this week, combined with 'absurd' consumer promotions. This and other promotional offerings are part of the national retailer's 'Discover the NEW Merchandise' campaign, breaking September 1, which will feature an integrated marketing program incorporating Sunday newspaper inserts, direct mail to existing customers and broadcast media in select markets.

"We are thrilled to share our new format with our customers," said President and CEO Gary M. Witkin. "We really think they will enjoy the new, easier shopping experience and the beautiful new merchandise for the home as well as our powerful selection of fine jewelry."

Gone are the clipboards which characterized the Company's catalog showroom past, and gone is the format in which only one display sample of each item was presented. In the new Service Merchandise, items are displayed in quantity, and customers take most selections directly to registers, avoiding a wait in a second line. They will continue to use the convenient pull-tag system for large, bulky items like furniture, televisions and fitness equipment that they would prefer to pick up from the loading dock.

Customers will encounter a new assortment of trend-right merchandise in the home decor category, which complements the Company's core strength in fine jewelry. From a new rustic collection of Mexican pine furniture to hand-painted dishes from Italy, customers will encounter thousands of items they've never seen before from Service Merchandise. Witkin noted that Labor Day weekend will also mark a renewed commitment to providing fast, friendly and knowledgeable customer service.

"We really want our customers to come see what's new at Service Merchandise for themselves - we have a whole new range of products to help develop distinctive styles and personalities in the comfortable, casual homes of today, as well as great gift giving ideas," added Witkin.
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