Musicland Has $40-Million Expansion Budget

-- Publishers Weekly, 4/12/1999

Musicland expects capital expenditures in 1999 to total approximately $40 million, according to the company's 10-K filing with the Securities and Exchange Commission. The majority of the funds will go toward opening new stores, as well as to the launch of its new e-commerce Web site that is slated to begin operations by June (News, Jan.18). Musicland finished 1998 with 69 Media Play stores and 162 On Cue outlets, and it expects to open between three to five Media Plays and 25 to 30 On Cue stores this year.

Musicland reported that book sales in 1998 declined in the year, due in part to a reduction in the number of titles carried by its superstores. Media Play stores carry up to 50,000 titles, while On Cue outlets can carry up to 6500 titles. Total sales of books, computer software and other products rose 6.7% to $351.2 million.

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