Printer Friendly

AID AUTO STORES, INC. SIGNS LEASE FOR ITS FIRST AID AUTO SUPERSTORE; Grand Opening Anticipated For Early July 1995; Company Also Announces Opening Of Its 69th Aid Auto Store Franchise.

WESTBURY, N.Y.--(BUSINESS WIRE)--May 16, 1995--AID AUTO STORES, INC. (NASDAQ Symbols: AIDA, AIDAW, BSE Symbols: AID, AIDW) today announced that it has signed a lease for its first Aid Auto Superstore. The 7,000 square foot Superstore will be located in Queens, New York and is expected to open in early July 1995.

The lease is for an initial term of eight years and eight months with an option for an additional seven and a half years. As part of the lease, AID AUTO will also have exclusive use of a 48 foot billboard located directly on top of the Superstore.

Commenting on the announcement, Philip L. Stephen, chairman and chief executive officer of AID AUTO STORES, INC. stated, "The signing of this lease, our first for the Company's exciting new Superstore concept, marks the beginning of the implementation of our business plan with respect to Aid Auto Superstores. The location is in a highly trafficked area of Queens, New York. Additionally, the store will benefit as we advertise on the billboard located directly on top of the building."

Mr. Stephen continued, "We look forward to the grand opening of our first Superstore. AID AUTO's spokesman, former New York Knick star and current NBA Hall of Famer, Walt "Clyde" Frazier will be at the opening to sign autographs. Given Mr. Frazier's tremendous popularity, especially in the New York area, we expect a huge turnout."

In a separate announcement, the Company noted that its 69th Aid Auto Store franchise was recently opened. The newest store is located at 19 West Main Street in East Islip, New York.

AID AUTO STORES, INC., is a major New York metropolitan area franchisor, retailer and wholesaler of automotive parts and accessories, targeting both the do-it-yourself and commercial markets. Through its wholly owned subsidiary Ames Automotive Warehouse, Inc., the Company supplies automotive aftermarket products for resale to non-automotive chain stores and independent jobbers and installers in the tri-state area.

CONTACT: Aid Auto Stores, Inc.

Philip L. Stephen

Chairman and CEO

516/338-7803

or

Lippert/Heilshorn & Assoc.

Jeffrey Volk - ext. 102

Lorin Cohen - ext. 123

212/838-3777
COPYRIGHT 1995 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:May 16, 1995
Words:352
Previous Article:SPOKANE'S SOURCE CAPITAL CORP. REPORTS 1995 FIRST QUARTER RESULTS; INTEREST AND FEE INCOME TRIPLES AND LOANS GROW 181% AS IT SHIFTS FROM LOAN RESALES.
Next Article:Cisco Systems president and CEO joins Arbor Software's board of directors; brings experience in rapid growth management to leading multidimensional...
Topics:


Related Articles
New York retail leasing headed for record year.
Long-awaited retail turnaround finally arrives.
Retail resurgence continues to sweep Manhattan.
Retail giants invade boroughs.
Brooklyn/Queens industrial markets remain stable.
Rite Aid coming to 125th St.
Retail on the move in 2002.
Repositioning the Capitol Plaza leaves Levin holding Ace card.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters