NEWS!! not sure if we were expecting this one or not - Hollywood Productions - 25% stake in plco!
paullie
<<March 10, 1999 07:02 AM
NEW YORK--(BUSINESS WIRE)--March 10, 1999--
Company Subsidiary Breaking Waves Launches Wholesale Web Site at www.BreakingWaves.com
Hollywood Productions Inc. FILM Wednesday announced that its wholly owned subsidiary, Breaking Waves Inc., has launched an online wholesale children's swimwear Web site at www.BreakingWaves.com.
The Web site is designed to complement the company's wholesale distribution efforts by providing retailers instant access to more than 200 styles of company-manufactured children's swimwear. The entire line of Breaking Waves swimwear, including products marketed under the Breaking Waves(tm), All Waves(tm), Daffy Girls(tm) and Jet Ski(tm) (under license from Kawasaki) brands, is available for online purchase by retailers.
The Breaking Waves Web site is being hosted by Mindspring MSPG and incorporates e-commerce features from Cybercash CYCH and Mercantec Inc.
Commenting on the launch, Breaking Waves Vice President Michael Friedland said: "This move comes in response to the needs of existing and potential customers. Through the Internet, these retailers can purchase or re-order online in a matter of minutes, at their own convenience, instead of having to wait for a printed wholesale catalog.
"The advantages and efficiencies created by this strategy are tremendous when you consider the fragmentation of the retail swimwear industry.
"Our belief is that this site will also be of great benefit to buyers at our major retail accounts including Federated Stores, Kmart, Marshalls and Dillard's," continued Friedland. "We believe that using the Internet will assist us in increasing brand awareness as well as market share."
Marketing strategies for driving retailers to the site include co-op trade advertisements, tradeshow exposure, direct mail and including the site address on all corporate collateral and product labels.
"Ultimately, we are trying to make the business of doing business as simple and convenient as possible. That's how you keep old customers and gain new ones," said Robert E. DiMilia, vice president of Hollywood Productions, who oversaw the design and implementation of the new site. "This is the first of several new ventures planned for e-commerce and the Web that we will be rolling out in the very near future."
Additionally, Hollywood Productions recently reported a 104 percent increase in net income in the quarter ended Dec. 31, 1998, over the previous year's quarter.
Hollywood Productions' net income figure for the three-month period ended Dec. 31, 1998, amounted to approximately $436,612, or 16 cents per share based on a weighted average number of shares of 2,686,944, as compared with a net income of $214,327, or 11 cents per share based on a weighted average number of shares of 2,040,463, in the quarter ended Dec. 31, 1997.
This represented an improvement of $222,285, or 5 cents of net income per share. All figures are based on unaudited results. Hollywood also concurrently announced that it has taken a 25 percent stake in the OTC company Play Co. Toys and Entertainment Corp. PLCO .
Play Co. Toys is a toy retailer with 25 stores located in Southern California, Arizona, Illinois, Michigan, Nevada and Texas. The company operates under the Play Co. Toys, Toys International and Toy Co. tradenames. Play Co. Toys specializes in offering educational, specialty, collectible and traditional toys.
Play Co. Toys recently announced the launch of its first dedicated e-commerce toy site at www.ToysWhyPayRetail.com, with the unique selling proposition of offering selected toys to the consumer at near-wholesale prices. This Web site can also be found and is available through America Online AOL .
Play Co. announced record results for the nine-month period ended Dec. 31, 1998. The company posted sales of $27,171,662, a $9,403,629, or 52.9 percent increase, over its comparable 1997 nine-month sales of $17,768,033. Hollywood Productions is a producer of motion pictures and, through its subsidiary, Breaking Waves, a manufacturer of swimwear. Breaking Waves enjoys a working capital financing relationship with Heller Financial HF .
Statements included within this news release that are not historical in nature constitute forward-looking statements for the purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Investors are cautioned that this news release contains certain such forward-looking statements that involve substantial risks and uncertainties. When used, the words "anticipate," "believe," "estimate," "expect" and similar expressions as they relate to the company or its management are intended to identify such forward-looking statements. The company's actual results, performance or achievements could differ materially from the results expressed in, or implied by, these forward-looking statements. Further management discussion of risks and uncertainties can be found in the company's quarterly filing with the Securities and Exchange Commission and other periodic filings.
|
