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Musicland Reports September Comp Sales Decrease of 5.7%.

MINNEAPOLIS--(BUSINESS WIRE)--Oct. 7, 1999--

Musicland Stores Corporation (NYSE:MLG) today reported comparable-store sales down (5.7) percent for the five weeks ended October 2, 1999.

"Last year's record-shattering sales of the `Titanic' video made for difficult comparisons this September, but comparable-store sales still met our expectations," Keith A. Benson, vice chairman and chief financial officer, said. "New music releases at the end of the month and the continued strength of DVD, video games and a number of other categories partially offset last September's `Titanic' sales and helped us meet our expectations."

The Superstores Division (Media Play and On Cue) comparable-store sales decreased (2.6) percent, while comparable-store sales for the Mall Stores Division (Sam Goody and Suncoast Motion Picture Company) declined (7.2) percent.

For the month of September, the company's total sales decreased (5.5) percent to $142.6 million compared to $150.8 million for the same five-week period in 1998. Total sales for the Superstores Division in September increased 0.2 percent to $49.9 million versus $49.8 million a year ago and total sales for the Mall Stores Division decreased (7.6) percent to $92.5 million compared to $100.1 million last year.

For the 39 weeks ended October 2, 1999, Musicland's comparable-store sales increased 2.8 percent; total sales increased by 2.3 percent to $1.17 billion from $1.14 billion in the same period last year.

Based in Minneapolis, Musicland Stores Corporation is the leading specialty retailer of home-entertainment software products in the United States. As of September 30, 1999, the company operated 1,332 retail stores in 49 states, Puerto Rico and the Virgin Islands under the names Sam Goody, Suncoast Motion Picture Company, Media Play and On Cue. In addition to its four store formats, Musicland also operates five commercial Web sites including: SamGoody.com (http://www.samgoody.com), Suncoast.com, MediaPlay.com, OnCue.com and Requestline.com. For additional information on Musicland Stores Corporation, visit the company's Web site at http://www.musicland.com.

Forward-looking statements in this news release, if any, are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the forward-looking statements, including the impact of changing economic or business conditions, other risk factors inherent in the entertainment industry and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.
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Publication:Business Wire
Date:Oct 7, 1999
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