-- Number One Retailer for Sega Dreamcast on Day of Release
-- Sales More Than Double Any Previous Console System Launch
-- Dreamcast Expected To Perform Solidly Through Holidays
WEST CHESTER, Pa., Sept. 14 /PRNewswire/ -- Electronics Boutique Holdings
Corp. (Nasdaq: ELBO), one of the world's largest specialty retailers of
electronic games, today announced that the launch of Sega's Dreamcast on
September 9, 1999, resulted in the Company's largest single day of sales in
its 22 year history, as well as the largest single day of sales on its
EBWorld.com website. The launch of the Sega Dreamcast system exceeded the
Company's expectations, resulting in initial-shipment sales more than double
any previous console system. As a result of the overwhelming consumer demand,
Electronics Boutique had completely pre-sold its initial allocation of the
system several weeks prior to the release.
Joseph J. Firestone, President and Chief Executive Officer, commented,
"Traditionally, our strongest day of the year coincides with the Christmas
holiday. To have sales of this magnitude in September is truly an event.
Many of our stores opened at midnight on the 9th and experienced heavy traffic
flow. Our Sunset Galleria store in Las Vegas pre-sold more than 700 units,
making it our top performing store on the initial release day."
"We are also very pleased by our ability to sell numerous games and
accessories with each purchase. On average, we sold more than two pieces of
software and two accessories with each piece of hardware," continued Mr.
Firestone.
"In addition to the single day totals, we are very encouraged by sales
through the weekend. Based on our observations of demand and feedback from
consumers, we believe the Dreamcast system will continue to perform solidly
through the holiday season. It has been nearly three years since the gaming
world has experienced this level of technology innovation and consumers are
clamoring for the new excitement," concluded Mr. Firestone.
Currently, there are 18 games available for the Dreamcast system, with
approximately 20 to 25 more scheduled for release before the holidays. The
top three sellers during the past weekend included Sega Sport's NFL 2000 (a
thrilling realistic football simulation), Sega's Sonic Adventure (a 360-degree
3-D adventure with the world's fastest hedgehog), and Namco-Hometek's Soul
Calibur (a top arcade game now available on Dreamcast).
Electronics Boutique is one of the leading specialty retailers of video
and computer games and also sells video game hardware, PC productivity
software and accessories. The company currently operates 567 stores in 46
states, Puerto Rico, Canada, Australia and South Korea, primarily under the
names Electronics Boutique and Stop 'N Save Software. The company has also
established a separate e-commerce division, EBWorld.com, Inc., to accelerate
the growth of its Internet business. The Company's website can be found at
http://www.ebworld.com .
This press release contains "forward-looking statements." Electronics
Boutique ("EB") is including this statement for the express purpose of
availing itself of the protections of the safe harbor provided by the Private
Securities Litigation Reform Act of 1995 with respect to all such
forward-looking statements. These forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ materially.
These risks include, but are not limited to, EB's dependence on the continued
introduction of new and enhanced video games and PC hardware and software;
the cyclical nature of the video game market; the rapid technological changes
which occur in the video game and PC industry; EB's ability to open and
operate new stores on a profitable basis; the intensely competitive nature of
the electronic game industry and its rapid changes in consumer preferences and
frequent new product introductions; the seasonal nature of the retail
industry; EB's dependence on its suppliers for products; risks inherent to
conducting international operations; and consumer spending patterns and
prevailing economic conditions. Please refer to Electronics Boutique's Annual
Report on Form 10-K on file with the SEC for a more detailed discussion of
these and other risks that could cause results to differ materially.
SOURCE Electronics Boutique Holdings Corp.
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Related links:
http://www.ebworld.com
CONTACT:
John R. Panichello, Chief Financial Officer
of Electronics Boutique Holdings Corp., 610-430-8100, General,
Kelly Lofts, Analyst, Michelle Cicoria, or Media, Jason Rando,
212-661-8030, all of The Financial Relations Board, for
Electronics Boutique Holdings Corp.
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