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SOURCE The Singing Machine Company
FORT LAUDERDALE, Fla., Aug. 19, 2014 /PRNewswire/ -- The Singing Machine Company ("Singing Machine" or the "Company") (OTCQB: SMDM) announces that Wal-Mart Stores U.S. will newly be included in its retail distribution group beginning in September 2014.
The Company today announced Wal-Mart Stores in the U.S. will carry three proprietary models of the Company's karaoke systems for the coming 2014 fall season. The retailing relationship with Wal-Mart will include almost 3,700 stores nationwide and is expected to result in year-around carriage. This news marks a significant expansion for the Company where Singing Machine has historically been a top provider of karaoke systems on Walmart.com. The Company will continue to offer their full product assortment on Walmart.com.
Other major retailers confirmed for the fall season include Amazon, BJ's Wholesale, Costco, Sam's Club, Target, and Toys R Us, among others. With the addition of Wal-Mart, Singing Machines' products will be carried in over 8,000 locations nationwide beginning in the fall.
"We're thrilled to have our karaoke systems introduced to Wal-Mart's loyal brick and mortar customer base and anticipate their consumers will react favorably to our products that Wal-Mart has selected for its stores," commented Bernardo Melo, VP of Sales & Marketing.
Gary Atkinson, Singing Machine CEO added, "The addition of Wal-Mart to our distribution is important to Singing Machine in several ways. It is expected to increase Singing Machine product sales and further build our brand. But it also provides recognition of the broadening appeal of karaoke in large part, we believe, due to its consumer benefits. Karaoke is educational. It teaches lyrics and musical composition. It helps in voice training and musical creativity. Karaoke is a uniquely fun way to sing, practice, improvise, record and share your singing with others. And our Singing Machine systems make karaoke easy to do, just plug and play. Plus our Singing Machine Karaoke Download Store and iOS Mobile App (powered by The KARAOKE Channel) provides consumers with the ability to download or stream from the world's largest karaoke library at nominal cost. We anticipate Singing Machine's products will be heavily promoted during the holiday season at most of our retail channels."
Wal-Mart Stores, Inc. helps people around the world save money and live better – anytime and anywhere -- in retail stores, online, and through their mobile devices. Each week, more than 245 million customers and members visit Wal-Mart's almost 11,000 stores under 71 banners in 27 countries and ecommerce websites in 10 countries. With fiscal year 2014 sales of over $473 billion, Wal-Mart employs more than 2 million associates worldwide. Wal-Mart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Wal-Mart can be found by visiting http://corporate.walmart.com on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart. Online merchandise sales are available at http://www.walmart.com and http://www.samsclub.com.
About The Singing Machine
Based in the US, Singing Machine is the North American leader in consumer karaoke products. We offer the widest line of at-home karaoke entertainment products, which allow consumers to find a machine that suits their needs and skill level. As the most recognized brand in karaoke, Singing Machine has over 32 years of history offering quality products that incorporate the latest technology for singing practice, music listening, entertainment and social sharing. The Singing Machine sells its products through major retailers in North America and also internationally. For more information on Singing Machine, visit www.singingmachine.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management and include, but are not limited to statements about our financial statements for the fiscal year ended March 31, 2014. You should review our risk factors in our SEC filings, which are incorporated herein by reference. Such forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
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