MEGAFOODS OPENS IN LAS VEGAS
MEGAFOODS OPENS IN LAS VEGAS MESA, Ariz., Oct. 27 /PRNewswire/ -- Megafoods Stores Inc.
(NASDAQ: MEGF) will celebrate the grand opening of its first two stores in Las Vegas on Nov. 4. This is the Arizona company's first venture into Nevada. A third store will open in Henderson, Nev. by the end of the year, and six additional stores will be opened in Nevada within 18 months, according to Megafoods' founder and Chief Executive Officer Dean Miller.
Miller said, "Megafoods is very committed to the Las Vegas market and we intend to make a strong impact as the low-price leader for groceries in the area." Megafoods operates 15 stores in Arizona and four in California. The new Las Vegas stores are located at 4001 S. Decatur Blvd., where Gary Fetzer is the manager, and 3250 E. Flamingo Rd., where George Zaran is the manager. The stores were previously Food 4 Less markets. The stores have been completely remodeled to fit the Megafoods' warehouse merchandising philosophy with supermarket convenience and selection. The chain's theme is "Shop Us Like a Supermarket and Save Like A Warehouse Club with No Membership Fee." During the grand opening, the stores will feature special promotions, product demonstrations and refreshments. A drawing will be held later in the month at each store for a free washer, television set, bicycles and other prizes. The stores are open to the public 24 hours a day, seven days a week. Each store is more than 62,000 square feet in size to handle the mass-merchandising displays of the numerous grocery products offered by Megafoods along with fresh bakery, deli, meat and produce departments. Megafoods carries all major brands in regular as well as the larger sizes, including special clubpacks. According to Miller, the chain is able to offer prices as much as 20 percent below the competition because of high-volume buying, low overhead and its mass-merchandising policies. Shoppers bag their own groceries and the labor savings are passed on to the customer. Megafoods accepts manufacturer and competitor coupons as well as food stamps and WIC redemptions. Megafoods began operation in 1987 and went public in July of this year at $7 per share. The stock is now trading at 12 3/4. The company employs about 2,000 people. -0- 10/27/92 /CONTACT: Rita Sanders for Megafoods, 602-967-8714/ (MEGF) CO: Megafoods Stores ST: Arizona IN: REA SU:
BP-EH -- LA014 -- 5407 10/27/92 12:29 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Oct 27, 1992|
|Previous Article:||ALLTEL AND SLT COMMUNICATIONS, INC. MODIFY TERMS OF SUGAR LAND ACQUISITION|
|Next Article:||NOBLE AFFILIATES DECLARES DIVIDEND|