Hastings Had Web Sales of $182,000
Jim Milliot -- Publishers Weekly, 5/14/2001
Hastings Entertainment's Web site, www.gohastings.com, generated revenues of $182,000 in the fiscal year ended January 31, 2001, and a relatively minor operating loss of $2 million, the retailer said in its 10-k filing with the Securities & Exchange Commission. The site had revenues of $145,000 and a loss of $1.5 million in the prior fiscal year.
Hastings, which reported sales of $458.2 million and a loss of $14.6 million in fiscal 2001 (News, Apr. 2), said merchandise revenues rose 1.8%, to $370.5 million, and video rental revenues increased 7.7%, to $87.7 million. Although the company did not break out actual book sales, it reported that book revenue in the year was down compared to fiscal 2000. In addition to opening seven stores this year, it plans to close at least four outlets, a scenario that would leave Hastings with 145 stores.
