May 25, 1999 08:58
Hastings Entertainment's New E-Commerce Web Site Goes Live Today; gohastings.com Offers Over 10 Million Entertainment Products
AMARILLO, Texas, May 25 /PRNewswire/ -- Hastings Entertainment, Inc.
(Nasdaq: HAST), a leading multimedia entertainment superstore retailer, announced that its new e-commerce Web site, gohastings.com, officially went live today. The site, which features access to more than 10 million new and used entertainment products, also offers a "lowest price" guarantee. To help build initial customer acceptance, the new site is featuring an extensive selection of Star Wars-related products at exceptional prices and books on the New York Times bestsellers list at 50% off list price. In addition, Hastings is currently providing a free shipping offer during the initial roll-out of the site, which is being supported by a national advertising campaign featuring print coverage in USA Today and The Wall Street Journal and electronic media exposure on Yahoo!, CNN and CBS Marketwatch.
"Our multimedia entertainment concept creates a gathering place in the
communities that our superstores serve," said John H. Marmaduke, president and chief executive officer. "Now we are delivering that concept to the world- wide community by providing an electronic gathering place.
"Our new site is a total entertainment retailing environment, selling everything from books to yo-yos. With the assistance of strategic alliances, we will continue developing gohastings.com with the goal of featuring a never- ending supply of hot and new products from the entertainment world," added Marmaduke.
Founded in 1968, Hastings Entertainment, Inc. is a leading multimedia
entertainment retailer that combines the sale of books, music, software, periodicals, videocassettes, video games and DVDs with the rental of videocassettes, video games and DVDs in a superstore format. In addition to e-commerce from the gohastings.com, 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 during the first quarter of fiscal 1999 and anticipates opening 18 superstores during the remainder of 1999. The new Web site will also provide general financial information about Hastings and complete terms and conditions related to the "lowest price" guarantee program.
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 which 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.
/CONTACT: Dennis McGill, Vice President-Finance and Chief Financial
Officer of Hastings Entertainment, Inc., 806-351-2300, ext. 6000/
/Web site: hastingsentertainment.com
/Web site: gohastings.com |
