Electronics Boutique (NASDAQ:ELBO)
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Electronics Boutique Opens New Expanded Distribution Facility
- New Facility to Support Rapid Growth of the Company -
WEST CHESTER, Pa., Oct. 13 /PRNewswire-FirstCall/ -- Electronics Boutique
Holdings Corp. (NASDAQ:ELBO) today announced the official opening of its new
315,000-square-foot distribution center in the Bellaire Business Center in
Sadsbury Township, PA.
The new facility commenced operations on October 1, 2004 and features
cutting-edge material handling technology designed to facilitate significant
gains in productivity, increases in overall efficiencies, and further
improvements to service levels. Complementing the Company's facility located
in Louisville, KY, the new location will serve as one of Electronics Boutique's
two primary distribution centers for its chain of over 1,300 U.S. stores. The
addition of a state-of-the-art facility in the Northeast and the expanded
overall capacity will help better balance the Company's distribution demands
across the U.S. and will also provide expense savings.
The new facility, which was completed on-time and within budget, consolidates
the operations from the Company's two distribution facilities in West Chester,
PA. The Company has signed an agreement to sell one of the existing facilities
for approximately $5.5 million and expects the transaction to close during the
fourth quarter. The Company will continue to utilize the remaining location as
its corporate headquarters with the vacated space available for corporate
expansion and training facilities as necessary. Upon the closing of the two
former operations, approximately 350 existing employees were successfully
transferred to the new distribution center in Sadsbury Township.
"Our rapid store and sales growth across the country created the need for a new
state-of-the-art facility to further streamline the Company's distribution
procedures and support continued expansion," said Jeff Griffiths, President and
Chief Executive Officer of Electronics Boutique. "The distribution center has
innovative technology that will improve distribution capabilities and ensure
that our customers will remain among the first to receive new releases and
other products. That said, we are particularly pleased that this facility is
fully operational in time for the busy holiday season so that we are able to
maximize our opportunities and provide gamers with the superior service and
availability they have come to expect from Electronics Boutique."
Electronics Boutique, a Fortune 1000 company, is the leading global specialty
retailer dedicated exclusively to video game hardware and software, PC
entertainment software, accessories and related products. The company currently
operates over 1,733 stores in the United States, Australia, Canada, Denmark,
Germany, Italy, New Zealand, Norway, Puerto Rico and Sweden -- primarily under
the names EB Games and Electronics Boutique. The company operates an e-commerce
website at http://www.ebgames.com/. Additional company information is available
at http://www.ebholdings.com/.
DATASOURCE: Electronics Boutique Holdings Corp.
CONTACT: James A. Smith, Chief Financial Officer, Electronics Boutique
Holdings Corp., +1-610-430-8100; or Cara O'Brien/Melissa Myron, Financial
Dynamics, +1-212-850-5600, for Electronics Boutique Holdings Corp.
Web site: http://www.ebgames.com/
http://www.ebholdings.com/