Consumer electronics retailer to change name in Minneapolis
and open a new location in Maple Grove
MINNEAPOLIS, Sept. 9 /PRNewswire-FirstCall/ -- Beginning Sept. 19,
consumer electronics retailer Audio King will change its name in Minneapolis
to Ultimate Electronics and open a new location at 12201 Elm Creek Blvd. in
Maple Grove.
"Forty-seven years ago when the very first Audio King opened, no one had
even heard of HiFi or color TV. Since then, as the world of electronics
evolved, Audio King has continued a tradition of bringing customers the very
latest technologies and services," said Dave Workman, president of Ultimate
Electronics. "Since our merger with Audio King in 1997, we have seen Audio
King's own evolution. We are excited about changing our name from Audio King
to Ultimate Electronics in Minneapolis and continuing to offer more brands,
cutting-edge technologies and knowledgeable sales experts so customers can
make informed choices."
Minneapolis residents will notice Audio King signs switching to Ultimate
Electronics on storefronts this week, along with an advertising campaign
including billboards, print advertising, direct mail and television spots to
communicate the change. Ultimate Electronics plans to continue showcasing
more leading brands while moving forward with programs like Technology of the
Month, which emphasizes new technologies, and the new "Hard Rock Sound Asylum"
theme room, which will allow customers to experience the very best in home
theater sound systems available from Klipsch Audio Technologies.
"Audio King has been part of the Ultimate Electronics company for many
years. We plan to continue Audio King's history of excellence in customer
service and to use its proven track record of success to deliver even greater
products and services," Workman added.
Ultimate Electronics has 58 locations, covers 13 states from Arizona to
Minnesota and has been a leading specialty retailer of home entertainment and
consumer electronics since 1968. Even before the companies merged in 1997
following Ultimate Electronics' purchase of Audio King, the companies shared a
common vision of emphasizing a better shopping experience. The name change
gives Ultimate Electronics an opportunity to grow its existing customer base
and develop new customers in the competitive Minneapolis market.
About Ultimate Electronics
Ultimate Electronics, Inc. (Nasdaq: ULTE) is a leading specialty retailer
of home entertainment and consumer electronics products in 13 states. The
company operates 58 stores, including 40 stores in Arizona, Idaho, Illinois,
Iowa, Minnesota, Missouri, Nevada, New Mexico, Oklahoma, South Dakota, Texas
and Utah under the trade name Ultimate Electronics(R), 11 stores in Colorado
under the trade name Soundtrack(R), and seven stores in Minnesota under the
trade name Audio King(R). In addition, the company operates Fast Trak, Inc.
an independent electronics repair company based in Colorado and a wholly owned
subsidiary of Ultimate Electronics.
Contacts: Amy Komatz, director of corporate communications, 303-801-4325
Jim Pearse, VP of marketing, 303-801-4005
Statements made in this new release, other than those concerning
historical financial information, should be considered forward-looking and
subject to various risks and uncertainties. Such forward-looking statements
are based on management's beliefs and assumptions regarding information
currently available and are made pursuant to the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. These statements
include statements about showcasing more leading brands and new programs and
delivering excellent customer service. Actual results may differ materially
from those included in the forward-looking statements due to a number of
factors, including, but not limited to: general economic conditions; actions
of competitors; agreements or relationships with suppliers and vendors; the
Company's ability to attract and retain qualified service personnel; the
goodwill associated with the Company's trademarks; and other risk factors
identified in the Company's Annual Report on Form 10-K for the year ended
January 31, 2003. The Company denies any obligation to publicly update or
revise the forward-looking statements in this news release.
SOURCE Ultimate Electronics, Inc.
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Related links:
http://www.ultimateelectronics.com
Company News On-Call:
http://www.prnewswire.com/comp/877054.html
CONTACT:
Amy Komatz, director of corporate
communications, +1-303-801-4325, or Jim Pearse, VP of marketing,
+1-303-801-4005, both of Ultimate Electronics, Inc.
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