Hastings Closing In June

FAYETTEVILLE — The Hastings store is closing and 35 employees will lose their jobs.

“The Fayetteville, Ark., location is closing due to store operating profit being less than that required by management,” according to a news release from Hastings Entertainment.

The store, 2999 N. College Ave., is set to close June 9. A going out of business sale is planned. Gift cards can be redeemed at www.gohastings.com.

The Springdale Hastings, 2400 W. Sunset Ave., is expected to remain open, Brad Massie, a company spokesman said Friday.

Hastings is a multimedia entertainment retailer with 135 stores in 19 states.

The company operates entertainment superstores that buy, sell, trade and rent books, music, software, periodicals, movies, video games and consoles and consumer electronics. The stores also sell snack food and trend products such as apparel, T-shirts, action figures, posters, greeting cards and seasonal merchandise.

Hastings was founded in 1968 and is based in Amarillo, Texas.

The company reported total revenue of $462.5 million for the fiscal year that ended Jan. 31 compared to $496.4 million in fiscal year 2012. It reported 140 stores open on Jan. 31.

Hastings, NASDAQ: HAST, closed Friday at $2.52 cents, up 2 cents. The 52 week range was $1.24 to $3:30.

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