Alta Natural Herbs Retail Expansion With Hudson's Bay Co.; Company Initiates North American Vertical Integration Strategy.VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 13, 1998-- Alta Natural Herbs Raymond J. Irvine, Alta Natural Herbs & Supplements Ltd.'s (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :AHS AHS Assistant House Surgeon. ) Vice President, reports that The Company has signed a three year license agreement with The Hudson's Bay Company Hudson's Bay Company, corporation chartered (1670) by Charles II of England for the purpose of trade and settlement in the Hudson Bay region of North America and for exploration toward the discovery of the Northwest Passage to Asia. of Canada to take over the operation of The Vitamin Stores at The Bay. The agreement, in which The Company pays a percentage of gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. in lieu of rent, allows Alta to enter the Canadian retail market on a large scale, backed by one of the country's most respected retail names, without any major cash outlay. The three-year agreement commits Alta to opening six stores on or before October 15, 1998 and a total of fifteen stores on or before November 24, 1998. The Company will open a total of forty retail outlets within the Hudson's Bay chain in the first year of the agreement. During this initrits of expanding into additional Hudson's Bay locations, which are not currently served by a Vitamin Store outlet. If attractive, Alta will roll out all additional locations on a schedule agreeable to both parties. The first six locations scheduled to open October 15th are Surrey BC; West Vancouver BC; Coquitlam BC; Victoria BC; Kewlona BC; and Saskatoon Saskatoon (săskət  n`), city (1991 pop. 186,058), S central Sask., Canada, on the South Saskatchewan River. SK. The second round of openings scheduled on or before November 24, 1998 are Downtown Vancouver BC; Langley BC; Richmond BC; Burnaby BC; Surrey BC (2nd location); Oakridge (Vancouver's 2nd location); Downtown Calgary, AB; Chinook Chinook, indigenous people of North AmericaChinook (shĭn  k`, chĭ–), Native American tribe of the Penutian linguistic stock. Mall (Calgary's 2nd location); and Downtown Winnipeg, MB. Each of these existing fifteen locations currently generates an average of $20,000.00 per month in net revenue after license fees. "The Company wins big on three fronts." said Irvine "First we now capture the full retail margin on all products sold through these locations, second we are able to greatly enhance our brand recognition in the market by establishing our own retail presence and third, through this partnership with a major retailing power such as The Hudson's Bay Company, we are moving closer to achieving our goal of becoming a world player in the multi-billion dollar natural food supplement industry." This move into retailing is the company's first step toward establishing a North America wide retail presence. The Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved of the contents of this release. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion