Home Media Magazine - September 28 - October 4, 2008 - (Page 24)

40 th anniversary Hastings FAQs I Number of stores: 153 I Headquarters: Amarillo, Texas I Employees: 6,080 I Total selling square footage: 3,134,912 I Sellthrough — DVD, video games, VHS: 16,000 title selections in average store I Rental — DVD, video games, VHS: 23,000 title selections in average store I Used — DVD, CD, video games: 31,000 title selections in average store I Annual revenue: $547.6 million (2007) I Rental revenue: $94.1 million (2007) I Net income: $10.2 million (2007) Hastings Stays a Step Ahead By Erik Gruenwedel hen Hastings Entertainment last summer shuttered its Galveston, Texas, store, it took a $400,000 hit on revenue and $200,000 in pre-tax charges. Now, after the devastation of Hurricane Ike left much of Galveston uninhabitable, the Amarillo-based entertainment chain’s downsizing looks almost prescient. Of course, Hastings had no idea of Mother Nature’s proclivities, but the strategic move underscores why the chain stands tall, profitable and unique 40 years after being founded in 1968 by Sam Marmaduke. In a challenged entertainment retail landscape littered with failed brands (such as Musicland and Tower Records and Video), Hastings recorded its fifth consecutive quarter of comparable net income growth based on a diverse mix of rental and sellthrough, including video games, movies, music, consumer electronics hardware, books and coffee. Hastings operates 153 stores in the Southwest, focusing on mediumsized markets with populations generally less than 250,000. W The Entertainment Merchants Association in June named Hastings its retail chain of the year. To be sure, Hastings isn’t immune to the current economic climate, as evidenced by a slight revenue decline to $125.6 million in the most recent quarter, from $125.9 million in the previous year’s period. The company is still on track to generate nearly $550 million for fiscal year 2009, which ends Jan. 31. At a time when industry experts characterize flat packaged-media sales as a positive, Hastings’ same-store DVD movie revenue continues to climb, increasing 2.6% in part due to new releases and Blu-ray Disc. Video game comp sales rose 4.6%. In October, Hastings marks its 40th anniversary at an annual summit that is as much corporate overview and celebration as college football tailgate party (store managers traditionally wear their alma matter jerseys and sing fight songs). See HASTINGS, Page 26 24 Home Media Magazine September 28–October 4, 2008

Table of Contents Feed for the Digital Edition of Home Media Magazine - September 28 - October 4, 2008

Home Media Magazine - September 28 - October 4, 2008 Contents News High-Def News Electronic Delivery News TV DVD Best Buy/Hastings Health & Fitness Reviews Pipeline Top 20 DVD Sellers Research Top 20 Rentals and Top 10 Charts Just Announced

Home Media Magazine - September 28 - October 4, 2008

Home Media Magazine - September 28 - October 4, 2008 - Home Media Magazine - September 28 - October 4, 2008 (Page Cover1) Home Media Magazine - September 28 - October 4, 2008 - Home Media Magazine - September 28 - October 4, 2008 (Page Cover2) Home Media Magazine - September 28 - October 4, 2008 - Home Media Magazine - September 28 - October 4, 2008 (Page 1) Home Media Magazine - September 28 - October 4, 2008 - Home Media Magazine - September 28 - October 4, 2008 (Page 2) Home Media Magazine - September 28 - October 4, 2008 - Home Media Magazine - September 28 - October 4, 2008 (Page 3) Home Media Magazine - September 28 - October 4, 2008 - Home Media Magazine - September 28 - October 4, 2008 (Page 4) Home Media Magazine - September 28 - October 4, 2008 - Home Media Magazine - September 28 - October 4, 2008 (Page 5) Home Media Magazine - September 28 - October 4, 2008 - Home Media Magazine - September 28 - October 4, 2008 (Page 6) Home Media Magazine - September 28 - October 4, 2008 - Contents (Page 7) Home Media Magazine - September 28 - October 4, 2008 - News (Page 8) Home Media Magazine - September 28 - October 4, 2008 - News (Page 9) Home Media Magazine - September 28 - October 4, 2008 - News (Page 10) Home Media Magazine - September 28 - October 4, 2008 - News (Page 11) Home Media Magazine - September 28 - October 4, 2008 - High-Def News (Page 12) Home Media Magazine - September 28 - October 4, 2008 - Electronic Delivery News (Page 13) Home Media Magazine - September 28 - October 4, 2008 - TV DVD (Page 14) Home Media Magazine - September 28 - October 4, 2008 - TV DVD (Page 15) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 16) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 17) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 18) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 19) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 20) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 21) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 22) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 23) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 24) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 25) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 26) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 27) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 28) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 29) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 30) Home Media Magazine - September 28 - October 4, 2008 - Best Buy/Hastings (Page 31) Home Media Magazine - September 28 - October 4, 2008 - Health & Fitness (Page 32) Home Media Magazine - September 28 - October 4, 2008 - Health & Fitness (Page 33) Home Media Magazine - September 28 - October 4, 2008 - Reviews (Page 34) Home Media Magazine - September 28 - October 4, 2008 - Reviews (Page 35) Home Media Magazine - September 28 - October 4, 2008 - Reviews (Page 36) Home Media Magazine - September 28 - October 4, 2008 - Reviews (Page 37) Home Media Magazine - September 28 - October 4, 2008 - Pipeline (Page 38) Home Media Magazine - September 28 - October 4, 2008 - Pipeline (Page 39) Home Media Magazine - September 28 - October 4, 2008 - Research (Page 40) Home Media Magazine - September 28 - October 4, 2008 - Research (Page 41) Home Media Magazine - September 28 - October 4, 2008 - Top 20 Rentals and Top 10 Charts (Page 42) Home Media Magazine - September 28 - October 4, 2008 - Top 20 Rentals and Top 10 Charts (Page 43) Home Media Magazine - September 28 - October 4, 2008 - Top 20 Rentals and Top 10 Charts (Page 44) Home Media Magazine - September 28 - October 4, 2008 - Top 20 Rentals and Top 10 Charts (Page 45) Home Media Magazine - September 28 - October 4, 2008 - Just Announced (Page 46) Home Media Magazine - September 28 - October 4, 2008 - Just Announced (Page 47) Home Media Magazine - September 28 - October 4, 2008 - Just Announced (Page 48) Home Media Magazine - September 28 - October 4, 2008 - Just Announced (Page Cover3) Home Media Magazine - September 28 - October 4, 2008 - Just Announced (Page Cover4) 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