National Record Mart to acquire 23 stores; count to reach 200, salesto exceed $130 mil

Discount Store News, Oct 5, 1998

PITTSBURGH - National Record Mart, the sixth largest music retailer in the United States, has signed letters of intent to acquire up to 23 music stores. The purchase, which should close this month, is expected to add $7.4 million to annual gross profits. The company expects the new stores will add $20 million to its annual sales, which were $112.5 million for the fiscal year ended March 28, 1998.

Along with an additional 23 store openings planned this year, National Record Mart's store count will reach 200.