Company Aligning Retail Footprint with Market Shifts in Phoenix and Las Vegas and to Improve Performance
PHOENIX, AZ / ACCESSWIRE / June 27, 2016 / Epic Stores Corp. ("Epic" or the "Company") (OTC: EPSC), a second-hand goods retailer
that operates retail stores in the United States, today announced the company will be consolidating three of its 10 store locations
this month. The consolidations, are expected to result in lower operating costs and improved performance as the company realigns
its retail footprint in response to increased market saturation in second-hand retail outlets in certain markets.
Brian Davidson, President and Chief Executive Officer of Epic Stores Corp., commented, "We are making great strides in our
efforts to meet the growing demand for lower-priced retail merchandise in multiple markets across the southwestern U.S. The
decision to realign and consolidate two of our Phoenix and one of our Las Vegas retail locations into our other locations during
the seasonal summer slowdown will further our efforts to achieve a break-even financial position by reducing labor costs,
optimizing inventory levels per square foot of space and increasing the level of management attention per store."
"Across the U.S., and specifically in Phoenix, we have seen multiple retail and restaurant chains reducing their property
footprint as a result of a shift in shopping preferences and recent trends towards smaller, more localized outlets," continued Mr.
Davidson. "At the same time, lower-end, second-hand retailers have expanded extensively to oversaturate certain markets and as a
result, we believe we will achieve our overall sales targets with a smaller, more focused footprint with more disparate locations
that are not in direct competition with each other."
"Our long-term strategy and tactics remain the same as we execute our plans to grow to the east towards Texas, where demand for
second-hand retail goods remains strong and the market is under-served. The 'off-price' segment of the retail market continues to
grow at double-digit rates and shows no signs of slowing down as both sophisticated and price-sensitive shoppers demand lower
prices for high quality new and used goods. Our move into the San Antonio market is progressing as planned."
About Epic Stores Corp.
Epic is a second hand goods retailer that operates second hand retail stores in the United States. Based in Phoenix, Arizona,
the company offers high quality, on-trend second hand clothing, accessories and household products at affordable prices. As of
March 31, 2016, the company employed 165 employees and operated 10 retail stores in four states. Founded in 2010, Epic opened its
first retail store in Phoenix, Arizona. Since that time, the company has opened additional stores in Arizona, Nevada, Colorado, and
Texas. All of the retail stores sell products directly to consumers. The company also operates a leading wholesale business that
supplies used shoes, books and clothing to distributors.
Forward-Looking Statements
The information in this press release contains "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or
current facts. Forward-looking statements often include words such as "anticipates," "estimates," "expects," "projects," "intends,"
"plans," "believes" and words and terms of similar substance in connection with discussions of future operating or financial
performance. Examples of forward-looking statements include, but are not limited to, statements regarding: (i) the adequacy of the
Company's liquidity to meet its needs for the foreseeable future, (ii) the benefits expected to be recognized in connection with
retail and whole sales, (iii) the Company's expectation that the current market conditions will continue. The Company's
forward-looking statements are based on management's current expectations and assumptions regarding the Company's business and
performance, the economy and other future conditions and forecasts of future events, circumstances and results. As with any
projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. The
Company's actual results may vary materially from those expressed or implied in its forward-looking statements. Any forward-looking
statement made by the Company speaks only as of the date on which it is made. The Company is under no obligation to, and expressly
disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, subsequent
events or otherwise.
Company Contacts
Brian Davidson President and CEO Epic Stores Corp. Tel (623) 565-5758 Investor Relations
Brett Maas Managing Partner Hayden IR Tel (646) 536-7331 brett@haydenir.com
SOURCE: Epic Stores Corp.
