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TMAN & TMANW in the news
Tuesday March 16, 8:30 am Eastern Time
Company Press Release
SOURCE: Today's Man, Inc.
Today's Man to Bring Menswear Value to the Internet With Launch of Todaysman.com
Today's Man Partners With Qwest to Open for E-Commerce Prior to 1999 Holiday Selling Season
MOORESTOWN, N.J., March 16 /PRNewswire/ -- Translating the best menswear value in the traditional marketplace to the virtual superstore of the Internet, Today's Man, Inc. (Nasdaq: TMAN - news and TMANW - news) announced today that it has entered into an agreement with Qwest Communications International Inc. (Nasdaq: QWST - news), to develop an online retailing capability for the Company. Today's Man plans to sell menswear, the first phase of the Company's e-commerce strategy, at an Internet store at the Today's Man web site, todaysman.com, in time for the 1999 holiday selling season.
''Today's Man revolutionized the menswear business with the marriage of value and convenience offered in its superstore format. Continuing our pioneering tradition, we plan to develop and launch an e-commerce site that harnesses the power of the Internet to deliver the greatest possible menswear values in a virtual superstore that is not limited by the traditional challenges of brick and mortar retailing,'' said David Feld, Chairman and Chief Executive Officer. ''Because Qwest is a true Internet strategist, we are confident that Todaysman.com will be an innovative and interactive site that creates the kind of mental hyperlinks with consumers that build a brand and grow the business.''
Qwest is uniquely positioned to assist Todaysman.com in all phases of the development of an online sales capability from connectivity and hosting to software and strategy. The agreement makes Todaysman.com the first customer of Q.Commerce-Retail which was developed as part of a strategic relationship between Qwest and Microsoft Corporation (Nasdaq: MSFT - news).
''Both Qwest and Today's Man recognize the power of the Internet in the retail marketplace. We are creating a fully interactive, content rich, manageable site that will reward Today's Man with stronger relationships with new and existing customers,'' said Bob Cooper, senior vice president of strategic consulting for Qwest. ''Our recently launched Q.Commerce-Retail is the ideal platform for Todaysman.com to build the kind of site that will be relevant and meaningful to the Internet customer.''
Q.Commerce-Retail is the first offering resulting from the strategic relationship formed by Qwest Communications and Microsoft Corporation in December of 1998. Q.Commerce-Retail is a complete end-to-end solution which includes high-speed Internet access, managed web hosting services, hardware, software consulting, design and graphics, direct merchandising assistance and site promotion -- all the elements required for retailers to capitalize on the explosive Internet commerce market
In addition to plans for an online Today's Man store, the Company has recently announced lease agreements for four new stores scheduled to open in 1999. The Company will nearly double its presence in the metropolitan Washington, D.C. market by opening superstores in Springfield, VA, Sterling, VA and Germantown, MD. Today's Man will also be entering the Baltimore market this year with a new store in Towson, MD.
Today's Man, which operates 25 superstores in the greater Philadelphia, New York and Washington markets, is a men's apparel superstore retailer offering a wide selection of tailored clothing, furnishings, sportswear and shoes at everyday low prices.
Qwest Communications International Inc. is a leader in reliable and secure broadband Internet-based data, voice and image communications for businesses and consumers. Headquartered in Denver, Qwest has more than 8,000 employees and 80 sales offices in North America, Europe and Mexico. The Qwest Macro Capacity(SM) Fiber Network, designed with the newest optical networking, will span more than 18,500 route miles in the United States when it is completed by mid-1999, and the additional 315-mile network route recently announced will be complete by the end of the year. In addition, Qwest and KPN, the Dutch telecommunications company, are forming a venture to build and operate a high-capacity European fiber optic, Internet Protocol-based network that has 2,100 miles and will span 9,100 miles when it is completed in 2001. Qwest also has nearly completed a 1,400-mile network in Mexico. For more information, please visit the Qwest web site at qwest.com.
SOURCE: Today's Man, Inc.
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