BUSINESS NOTES
Staff -- TWICE, 1/6/2001
Harvey Electronics Gains Financing To Open Stores
LYNDHURST, N.J .—Harvey Electronics said it has completed an expanded $7 million credit facility that will primarily be used to finance planned retail-store expansion. The retailer said this increased facility, together with projected cash flow from operations, will provide the funds to open at least two, and perhaps as many as four, new locations in fiscal 2001. The previously announced Eatontown, N.J. store would be the first unit opened under this plan this February. Said Harvey president Franklin Karp, "We believe the New Jersey market is underserved and will prove to be fertile ground for two new Harvey showrooms in affluent areas of the state. If we are successful in locating additional real estate, then additional Harvey stores will be opened in Long Island or in Connecticut. We also continue to search for an appropriate location in midtown Manhattan to open our third Bang & Olufsen branded store. Simultaneously, we continue to look at acquisition opportunities in our market, in lieu of opening new stores."
Monster Cable Helps Maximize A/V System Performance
BRISBANE, CALIF. —Monster Cable is partnering with audio/video specialty e-tailer, Spokane, Wash.-based OneCall.com, to offer a selection of Monster Cable's audio and video cables, interconnects and accessories. Using rich media such as Real Audio, Macromedia Flash and Adobe Acrobat, the two companies have teamed up to provide "listen and learn" product tutorials as part of innovative Web content that coaches consumers about how to increase the performance of their A/V systems with some simple tweaks. The format offers a variety of tips, including assistance and visual instruction via the "owner's manual" for A/V hookup. The companies intend to educate shoppers, while providing accessible product experts and a strong commitment to customer service.
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