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LAS VEGAS, Sept. 06, 2018 (GLOBE NEWSWIRE) -- 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.