ARCA Announces Plans to Open Third ApplianceSmart Factory Outlet in Atlanta Area in Late February 2006
November 23 2005 - 4:08PM
PR Newswire (US)
MINNEAPOLIS, Nov. 23 /PRNewswire-FirstCall/ -- Appliance Recycling
Centers of America, Inc. (OTC:ARCI) (BULLETIN BOARD: ARCI) today
announced that it will open a third ApplianceSmart factory outlet
superstore in the Atlanta, Georgia market. Located at Mays Crossing
in the southeastern Atlanta metro area community of Stockbridge,
the 27,000-square-foot factory outlet will be ARCA's fourteenth
retail location nationally. This new store follows the opening of a
second ApplianceSmart outlet in San Antonio, Texas in October 2005.
Like all ApplianceSmart factory outlet superstores, this new
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 Atlanta
in a relatively short period of time. Since entering the market in
June 2004, our two Atlanta factory outlets have continued to meet
our expectations. The addition of a third outlet to serve the
southeast 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 same-store sales of the nine
ApplianceSmart factory outlets that were open during the third
quarters of 2005 and 2004 rose 19%, while total retail sales from
12 ApplianceSmart outlets increased 52% to $16,513,000 compared to
last year's third quarter. As of November 2005, ApplianceSmart was
operating thirteen outlets: five in the Minneapolis/St. Paul
market; three in the Columbus, Ohio, market; two in the Atlanta
market; two in the San Antonio market; and one in Los Angeles.
About ARCA Through its ApplianceSmart (
http://www.appliancesmart.com/ ) operation, ARCA is one of the
nation's leading retailers of special-buy household appliances,
primarily those manufactured by Maytag, GE, Frigidaire and
Whirlpool. These special-buy appliances, which include close-outs,
factory overruns and scratch-and-dent units, typically are not
integrated into the manufacturer's normal distribution channel.
ApplianceSmart sells these virtually new appliances at a discount
to full retail, offers a 100% money- back guarantee and provides
warranties on parts and labor. As of November 2005, ApplianceSmart
was operating 13 factory outlets: five in the Minneapolis/St. Paul
market; three in the Columbus, Ohio, market; two in the Atlanta
market; two in San Antonio, Texas and one in Los Angeles. ARCA is
also the nation's largest recycler 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, +1-952-930-9000 Web site:
http://www.appliancesmart.com/ http://www.arcainc.com/
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