buy-op
May 04, 1999 15:22
Hastings Entertainment Delays May 4 Launch of New gohastings.com E-Commerce Site to Address Bandwidth Technology Issues That Will Enhance Performance
AMARILLO, Texas, May 4 /PRNewswire/ -- Hastings Entertainment, Inc. (Nasdaq: HAST), a leading multimedia entertainment superstore retailer, today announced that it has delayed briefly the launch of its new gohastings.com e-commerce Internet site to address bandwidth technology issues that will significantly enhance the site's performance going forward.
"We had gohastings.com ready to launch, but determined that it would not deliver the level of speed and convenience that over four million Hastings customers already pre-registered for our site have come to expect from shopping at our 131 entertainment superstores," said John H. Marmaduke, president and chief executive officer. "We decided to move our server to utilize the greater capacity and speed afforded by the expanded bandwidth of T-3 line technology caused unexpected delays. However, we feel that it was better to delay the debut of our new site than to open with less than the best product that we could offer to the global community we will be serving."
Marmaduke added that those Hastings customers who wished to take advantage of the special offers that were advertised today in the print ads in USA Today and The Wall Street Journal can call toll-free, 1-877-HASTINGS, to order the featured products, including free shipping. The gohastings.com site features more than 10 million new and used entertainment products and a "lowest price" guarantee program and exceptional previously viewed video pricing offers, such as "Good Will Hunting," "Primary Colors" and "Rush Hour," packaged together for $9.99.
Founded in 1968, Hastings Entertainment, Inc. is a leading multimedia
entertainment retailer that combines the sale of books, music, software, periodicals, DVDs and videotapes with the rental of videotapes, DVDs and video games in a superstore format. The company currently operates 131 superstores, averaging 21,200 square feet, primarily in small to medium-sized markets in the Midwestern and Western United States. The company opened two superstores the first quarter of fiscal 1999, and anticipates opening up to 18 more superstores during the remainder of 1999. gohastings.com will also provide general financial information about Hastings. In addition, complete terms and conditions related to the "lowest price" guarantee program will be detailed on the new Web site.
Certain statements set forth above are forward-looking statements within the meaning of the Securities Exchange Act of 1934. Such statements are based upon management's current estimates, assumptions, and expectations and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described herein. The forward-looking statements set forth above are subject to the factors and uncertainties set forth under the heading "Risk Factors" in the Company's Registration Statement on Form S-1 as filed with the Securities and Exchange Commission and declared effective on June 11, 1998 and the company's annual and quarterly reports on file with the Securities and Exchange Commission.
SOURCE Hastings Entertainment, Inc.
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