American CinemaStores signs agreement with Hoyts Theatres; 10th-largest theater chain to carry ACS's new satellite mini-stores.LOS ANGELES--(BUSINESS WIRE)--Dec. 16, 1994--Boston-based Hoyts Theatres has signed the first agreement with American CinemaStores to carry ACS's new satellite mini-stores in theater lobbies, it was announced Friday by Gill Champion, chairman and chief executive officer of American CinemaStores (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ACSI ACSI Association of Christian Schools International ACSI American Customer Satisfaction Index ACSI Association Canadienne des Sciences de l'Information (French) ACSI American Communications Services, Inc. ). Hoyts Cinemas Corp., which operates 560 screens in 85 locations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , will install before Christmas ACS (Asynchronous Communications Server) See network access server. satellite mini-stores at three New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of theaters: the Carousel Center 14 in Syracuse, the Galleria Cinemas in Poughkeepsie and the Rensselaer Cinemas in East Greenbush. "The premise of these satellite stores is to capitalize on a particular movie's popularity by offering specialized merchandise that is `hot' without the investment of a full-time store," said Champion. "In this way, ACS won't be encumbered Encumbered A property owned by one party on which a second party reserves the right to make a valid claim, e.g., a bank's holding of a home mortgage encumbers property. by a large stock of inventory, which can quickly become obsolete," said Champion. The ACS satellite mini-stores differ from ACS's permanent mini-stores in that they are smaller, portable units that are installed on a movie-by-movie basis for a limited period of time, typically 30 to 45 days. "We're constantly searching for new products and services to complement the movie-going experience for our patrons," said Morris Englander, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Hoyts. "The new ACS satellite mini-stores are an attractive and unique way of enhancing that experience." Store merchandise for both the satellite and permanent stores includes a variety of movie memorabilia, soundtracks and videos, and exclusive hats and T-shirts from current films and television shows. For merchandise that is not available at the smaller satellite store, customers can call an 800 telephone number. "We look forward to continued and improved success in the satellite stores with `Star Trek: The Next Generation,' `Miracle on 34th Street' and `The Pagemaster,' as well as other featured television products," said Steve Natale, president of American CinemaStores. ACS will continue to explore licensing and sub-licensing arrangements for additional lines of product, as was done with Paramount's "Forrest Gump," New Line Cinema's "Wes Craven's New Nightmare This article or section has multiple issues: * It does not cite any references or sources. Please help improve this article by citing reliable sources. * It contains a trivia section. Please help [ improve the article] or discuss these issues on the talk page. " and 20th Century Fox's "Miracle on 34th Street Miracle on 34th Street film featuring benevolent old gentleman named Kris Kringle. [Am. Cinema: Halliwell, 493] See : Christmas Miracle on 34th Street Santa Claus comes to New York. [Am. ." Typically, ACS provides the unit, the merchandise, a custom POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale (point of sales) system, which tracks sales and inventory daily, and sales training while the theater provides the labor. ACS mini-stores are in General Cinema Theatres, Cineplex Odeon Theatres, Pacific Theatres, Metropolitan Theatres, Cobb Theatres and Nickelodeon Theatres throughout California, New York, New Jersey and Florida. Champion said he expects two other major circuits will be added soon. The company has recently expanded into the retail mall arena with its new division, The American Studio Store. Within the last three months, ACS has opened eight regional mall stores -- five in California and one each in New York, New Jersey and Hawaii. These retail mini-stores easily fit into vacated mall space and can be installed and operational in two to three days, as opposed to six months to one year for most retail stores. "In malls where the temporary units are successful, we are considering installing an in-line or permanent store," said Champion. American CinemaStores is a public company traded on the NASDAQ Small Cap market. Its symbol is ACSI. CONTACT: Rogers & Cowan Inc., Los Angeles Jane Lieberman, 310/201-8853 |
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