SALT LAKE CITY, Oct. 14 /PRNewswire/ -- Franklin Covey Co. (NYSE: FC)
announced today availability of its world renowned Franklin Planner products
in Office Depot. A limited selection of popular entry-level and renewal
Franklin products are being delivered to more than 550 Office Depot locations
nationwide and will be available in most stores by November 1, 1998. The full
line of Franklin Planner products will still be available in the Company's own
121 retail stores located in major markets throughout the United States, as
well as through the Company's catalog order operation.
Gordon Wilson, Executive Vice President of Consumer Product Sales,
commented on the announcement saying, "This is the first time that the core
Franklin Planner product line has been available in a retail operation outside
of the Company-owned channels. Office Depot is a major player in the office
superstore channel and this will greatly increase the visibility of the
product line and enhance our ability to put a planner in everyone's hands. We
currently offer an entry-level one-page per day edition in other channels such
as Sam's Club and college bookstores, but this is the first time we have put
our two-page per day Franklin Planner through this channel. We have more than
15 million individuals carrying Franklin Planners and agendas and believe that
we can double that number in the next few years through alliances like this."
In addition to the retail channel announcement, the Company announced that
the Board of Directors in its meeting held on October 9, 1998, approved an
additional two million shares for the Company's common stock repurchase
program. The Company has repurchased nearly seven million shares of its
common stock since the first approval was given in 1995. The Company
currently has approximately 21.3 million shares of its common stock
outstanding.
This announcement contains forward-looking statements that necessarily are
based on certain assumptions and are subject to certain risks and
uncertainties, including the effects of competition, lack of market acceptance
of new products or services, failure to gain market share in target markets
and other factors identified and discussed in the Company's 1997 10-K and
subsequent 10-Q reports filed with the Securities Exchange Commission. There
can be no assurance that the Company's actual future performance will meet the
Company's expectations. These forward-looking statements are based on
management's expectations as of the date hereof, and are based on factors that
may cause future results to differ materially from the Company's current
expectations.
Franklin Covey is the leading global provider of leadership development
and productivity services and product solutions based on proven principles.
More than 15 million individuals use Franklin Covey's agendas and planners,
and its training products and related materials are printed in 28 languages
throughout the world. Franklin Covey trains in excess of 750,000 participants
annually in training seminars teaching principles to help them achieve "What
Matters Most."
SOURCE Franklin Covey Co.
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Related links:
http://www.franklincovey.com
Company News On-Call:
http://www.prnewswire.com/comp/107086.html or fax,
800-758-5804, ext. 107086
CONTACT:
Jon H. Rowberry, CEO and President, John L.
Theler, Chief Financial Officer, or Richard R. Putnam, Investor
Relations, all of Franklin Covey Co., 801-975-1776
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