ARCA Announces Plans to Open Second ApplianceSmart Factory Outlet in San Antonio in June
20 Abril 2005 - 3:15PM
PR Newswire (US)
ARCA Announces Plans to Open Second ApplianceSmart Factory Outlet
in San Antonio in June MINNEAPOLIS, April 20 /PRNewswire-FirstCall/
-- Appliance Recycling Centers of America, Inc. (OTC:ARCI)
(BULLETIN BOARD: ARCI) today announced that in June the company
will open a second ApplianceSmart factory outlet superstore in San
Antonio, Texas. Located at Southwest Military Drive and Flores
Street, between I-35 and I-37 in south central San Antonio, the
37,000-square-foot factory outlet will be ARCA's thirteenth retail
location nationally. This new store follows the opening of an
ApplianceSmart outlet in northeastern San Antonio in October 2004.
Like all ApplianceSmart factory outlet superstores, the new San
Antonio location will carry a wide range of special-buy major
household appliance brands, including Maytag, GE, Frigidaire,
Jenn-Air, Amana and Magic Chef. Special-buy appliances, which
ApplianceSmart sells at a significant discount to retail, include
new in-the-box closeouts, factory overruns, discontinued models and
thousands of discounted out-of-box items. Edward R. (Jack) Cameron,
president and chief executive officer, commented: "By offering
customers an unprecedented selection of high-quality,
discount-priced appliances, ApplianceSmart has become a strong
presence in San Antonio in a relatively short period of time. Since
opening in October 2004, our first San Antonio factory outlet has
consistently met or exceeded our expectations. The addition of a
second outlet to serve the south central metro area will enable us
to increase our market penetration while generating greater
economies of scale as we leverage advertising support and other
overhead expenses." The company previously announced that fourth
quarter same-store sales of the eight ApplianceSmart factory
outlets open during the complete fourth quarters of 2004 and 2003
rose 8%, while same-store sales of the seven outlets open during
all of 2004 and 2003 were up 10%. Total retail sales in 2004 rose
25% to $10,686,000 in the fourth quarter and 20% to $41,847,000 for
the full year compared to the same periods in 2003. As of April
2005, ApplianceSmart was operating twelve outlets: five in the
Minneapolis/St. Paul market; three in the Columbus, Ohio, market;
two in the Atlanta market; one in the San Antonio market; and one
in Los Angeles. About ARCA Through its ApplianceSmart operation,
ARCA is one of the nation's leading retailers of special-buy
household appliances. These special-buy appliances, which typically
are not integrated into the manufacturer's normal distribution
channel, are sold by ApplianceSmart at a discount to full retail.
ApplianceSmart offers a 100% money-back guarantee as well as
warranties on parts and labor. ARCA is also one of the nation's
largest recyclers of major household appliances for the energy
conservation programs of electric utilities. Statements about
ARCA's outlook are forward-looking and involve risks and
uncertainties, including but not limited to: the speed at which
individual ApplianceSmart outlets reach profitability, the growth
of appliance retail sales, the strength of energy conservation
recycling programs, and other factors discussed in the Company's
filings with the Securities and Exchange Commission. Visit our web
sites at http://www.arcainc.com/ and http://www.appliancesmart.com/
. DATASOURCE: Appliance Recycling Centers of America, Inc. CONTACT:
Edward R. (Jack) Cameron of Appliance Recycling Centers of America,
Inc., +1-952-930-9000 Web site: http://www.arcainc.com/
http://www.appliancesmart.com/
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