New West Eyeworks announces closing of ten retail outlets located within Smitty's Stores.
The ten retail optical outlets, which operated under the ``Lee Optical'' name, were located within Smitty's grocery stores in the State of Arizona. Due to an overabundance of stores in the Phoenix and Tucson metropolitan areas, the Company has decided to close such outlets, rather than renew leases which expire later in 1995.
``We have enjoyed our relationship with Smitty's, which we consider a premier retailer of groceries and other household products in the Southwest,'' noted Barry Feld, President and Chief Executive Officer of New West Eyeworks, Inc. Arizonans can continue to have their eyes examined, select from a wide variety of `value-priced' frames and lenses, and enjoy superb customer service at any of the other 28 `Lee Optical' stores which we operate in regional malls and neighborhood shopping centers throughout the State.''
New West Eyeworks, Inc. is a leading specialty retailer of eyewear and currently operates 141 stores in nine western states. The Company's merchandising strategy centers around a ``signature'' $59 price point for a wide selection of quality, brand-name eyeglasses (frames + lenses). New West also sells brand-name contact lenses and non-prescription sunglasses and offers customers on-site eye examinations by independent optometrists in its stores, which operate under the ``Lee Optical'' name in Arizona and Utah, and ``Vista Optical'' in the other seven states. The Company's optical laboratories and distribution facilities are located in Tempe, Arizona and near Portland, Oregon.
New West Eyeworks' common stock is traded on NASDAQ under the ticker symbol ``NEWI'' and on the Pacific Stock Exchange under the ticker symbol ``NWE''.
CONTACT: New West Eyeworks, Inc., Tempe
Barry Feld, 602/438-1330
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|Date:||Apr 4, 1995|
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