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HANDLEMAN COMPANY ANNOUNCES ARRANGEMENT WITH WAL-MART STORES, INC. TO CONTINUE SUPPLYING PRERECORDED VIDEO AND MUSIC PRODUCTS

 TROY, Mich., Oct. 28 /PRNewswire/ -- Handleman Company (NYSE: HDL), a mass merchandiser of home entertainment products, announced today that it has been notified by Wal-Mart Stores, Inc. (NYSE: WMT), one of the nation's largest retail chains and a major Handleman customer, that it will supply prerecorded video and music products to at least 837 Wal-Mart locations through 1994. The company had announced in June that it expected to service approximately 700 Wal-Mart Stores through 1994. Under the terms of the new arrangement, Handleman will service no fewer than 700 locations through 1997.
 Stephen Strome, president and chief executive officer of Handleman, said that "We are pleased to continue as a major supplier to Wal-Mart and to support a greater number of their locations through 1994 than originally anticipated. This speaks well for the quality of our relationship and our shared commitment to customer service. We look forward to working with Wal-Mart for many years to come," Strome added.
 Handleman Company, with sales in excess of $1 billion, is the largest specialty merchandiser of home entertainment products to mass merchants in North America. Products include prerecorded music, prerecorded videos, books and home computer software. The company's 3,900 employees service approximately 23,000 retail departments from distribution facilities located in the United States and Canada.
 -0- 10/28/93
 /CONTACT: Richard J. Morris, vice president and chief financial officer of Handleman Company, 313-362-1150, Ext. 787; or Don Drew of Stone, August, Baker PR, 313-641-0400, for Handleman Company/
 (HDL WMT)


CO: Handleman Company; Wal-Mart Stores, Inc. ST: Michigan, Arkansas IN: REA ENT SU:

JG -- DE013 -- 7894 10/28/93 11:58 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
Words:270
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