actually shorts covered for a nice profit around 7.5 -- now some are buying and going long ---- 8 5/8 x 8 11/16 vol 1,760,000 --- we should get some attention for record volume -- still may release Amazon news today ---
this article says more than reuters:
NEWS!!!!!
MIAMI--(BUSINESS WIRE)--Feb. 1, 1999--Perfumania, Inc. (NASDAQ:PRFM -
news), the nation's largest perfumery chain, today launched its Internet
fragrance store, www.perfumania.com, supported by a media advertising
campaign and cross marketing promotions with its 290 retail stores.
Perfumania, which receives over 15 million visits to its stores
annually, said that it intends to capitalize on its name recognition and
the cross marketing opportunities
with its stores to become a top discount retailer of perfumes on the
Internet.
The Company launched the web store supported by print advertisements
appearing in such publications as The Wall Street Journal, USA Today,
Investor's
Business Daily, The Miami Herald, and Yahoo!® Internet Life Magazine,
The Internet Standard Press as well as radio spots in New York, Boston
and Miami. In
addition, the Company is promoting the website in its 290 retail stores
across the country -- with posters and banners in the windows plus
incentives for the store
visitors to utilize Perfumania's website.
''Perfumania's 290 stores are prominently displaying posters and banners
promoting our new Web store and informing customers about the advantages
of shopping
at Perfumania.com. We intend to fully capitalize on our name
recognition, retail experience, high gross margins and good working
relationships with manufacturers.
We have the leading discount fragrance retailing position in the United
States, the largest fragrance market in the world, and intend to
capitalize on this position by
developing franchised fragrance stores and Internet affiliation
internationally,'' said the Chairman and Chief Executive Officer, Ilia
Lekach.
Mr. Lekach added, ''This is a step in our corporate strategy to become a
''truly global' Internet marketer of perfumes.''
In conjunction with the launch of its Internet store, Perfumania
recently announced the formation of an international franchise
subsidiary for franchising Perfumania's
retail stores, internationally.
''Our strategy is to license our international franchisees and Internet
affiliates to sell fragrances under the Perfumania trade name in local
markets with local prices
and local product delivery. This arrangement solves the problem of the
international consumer having to pay custom duties and the encumbrance
of shipping to their
country,'' Mr. Lekach said.
Perfumania, Inc. is a leading speciality retailer and wholesale
distributor of a wide range of brand name and designer fragrances with
some $180 million in annual
sales. The Company operates a chain of more than 290 retail stores
specializing in the sale of fragrances at discounted prices up to 70
percent below the
manufacturer's suggested retail prices. The Company's wholesale
division, one of the largest in the United States, distributes
fragrances and related products to
national and regional chains and other wholesale distributors throughout
North America and overseas.
This press release contains forward-looking statements that involve
risks and uncertainties that could cause actual results to differ
materially from those set forth in
the forward-looking statements. Such risks and uncertainties are
described in the Company's filings with the SEC, including its
Registration Statement on Form
SB-2. |
