Live Ventures Subsidiary Vintage Stock Announces Surge in August Sales
September 06 2018 - 8:30AM
Live Ventures Incorporated (Nasdaq:LIVE), a diversified holding
company, announced today that its subsidiary, Vintage Stock,
reported overall sales in August increased 6.1 percent, while same
store sales were up 4.84 percent, all compared to the same period
during 2017. Increases were attributed to strong sales of “Avengers
Infinity War” and “Deadpool 2” that increased foot traffic in
stores. In addition, traffic was increased through an annual sale
for the Labor Day holiday, of which one day was included in the
August 2018 sales figures.
When comparing the full four-day 2018 Labor Day Sale to 2017,
same store sales were up 11.89 percent and companywide sales were
up 14.05 percent. Increased sales were seen across almost all new
and used categories, with a 16 percent increase in movies leading
the way. Increases were also attributed to a major investment in
chip card readers and the acquisition of mobile numbers to offer
sales and promotions via text.
“We believe that converting from email promotion to mobile will
continue to positively impact sales and our relationship with our
large group of loyal customers as we head into the holiday season,”
said Rodney Spriggs, CEO of Vintage Stock. “Whether people
are looking for relief from summer temperatures or home
entertainment favorites, Vintage has built a loyal clientele by
continuously providing customers with what they’re looking for –
exceptional value at unbeatable prices. We are very proud of the
Vintage Stock team for a great showing at the end of the
summer.”
About Live Ventures
Live Ventures Incorporated, originally incorporated in 1968, is
a diversified holding company with several wholly owned
subsidiaries and a strategic focus on acquiring profitable
companies that have demonstrated a strong history of earnings
power. Through its subsidiary, Marquis Industries, the company
operates as a specialty, high-performance yarns manufacturer and
hard-surfaces re-seller. Marquis Industries, which is a top-10
high-end residential carpet manufacturer in the United States,
utilizes its state-of-the-art yarn extrusion capacity to market
monofilament textured yarn products to the artificial turf
industry. Marquis is the only manufacturer in the world that can
produce certain types of yarn prized by the industry. Through its
subsidiary Vintage Stock, an award-winning entertainment retailer,
the company sells new and pre-owned movies, classic and current
generation video games and systems, music on CD and LP, collectible
comics, books, toys, and more. Vintage Stock, through its stores
and website, ships product worldwide directly to the customer's
doorstep. Through its subsidiary ApplianceSmart, the company
sells new major household appliances in the United States through a
chain of company-owned retail stores operating under the name
ApplianceSmart®.
Forward-Looking and Cautionary Statements This
press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of
1995. In accordance with the safe harbor provisions of this
Act, statements contained herein that look forward in time that
include everything other than historical information, involve risks
and uncertainties that may affect the company’s actual results.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements, and
include statements relating to the conversion from email promotion
to mobile which the company believes will continue to positively
impact sales and Vintage Stock’s relationship with its
customers. Live Ventures may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission on Forms 10-K and 10-Q, Current
Reports on Form 8-K, in its annual report to stockholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. There can be
no assurance that such statements will prove to be accurate and
there are a number of important factors that could cause actual
results to differ materially from those expressed in any
forward-looking statements made by the company, including, but not
limited to, plans and objectives of management for future
operations or products, the market acceptance or future success of
our products, and our future financial performance. The
company cautions that these forward-looking statements are further
qualified by other factors including, but not limited to, those set
forth in the company’s Annual Report on Form 10-K, as amended, for
the fiscal year ended September 30, 2017 (available
at http://www.sec.gov). Live Ventures undertakes no obligation
to publicly update or revise any statements in this release,
whether as a result of new information, future events, or
otherwise.
Contact:Live Ventures Incorporated Tim Matula, Investor
Relations (425) 836-9035 tmatula@live-ventures.com
http://live-ventures.com Source: Live Ventures
Incorporated
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