Cool Holdings Reopens Two More of its Simply Mac Stores
MIAMI, June 17, 2020 – Cool Holdings, Inc. (OTCQB: AWSM) (the “Company” or “Cool Holdings”), the parent company of Simply Mac, Inc., the largest Apple Premier Partner in the U.S. (“Simply Mac”), announced that it has reopened two more of its Simply Mac stores that had been closed as a result of the COVID-19 pandemic.
The first store to reopen was the Simply Mac store in Eugene, Oregon. For the past 10 years, the Eugene store was located about 5 miles northwest of the University of Oregon Campus. The Company took the opportunity at the end of the lease term at that location to move to a new site on East 13th Avenue that is directly across from Campus. The new store is also immediately adjacent to The Duck Store, the official bookstore of the University of Oregon that has been serving students since 1920. This new Simply Mac store is the result of a collaboration with The Duck Store, that is also the lessor of the property.
The second store to reopen was the Simply Mac store in Orlando, Florida. This store is located in the Orlando International Premium Outlets at 4951 International Drive. It is only two miles from Universal Studios Theme Park and ten miles from Walt Disney World Resort.
Reinier Voigt, President and Chief Executive Officer of Cool Holdings, commented: “We are pleased to have reopened two more of our Simply Mac stores, which raises our open store count to 40 stores in 19 states. We are also excited about the collaboration we have struck with The Duck Store in Eugene. In addition to continuing to serve the entire community of Eugene, our new location immediately across the street from campus, provides a greater opportunity for us to support the students, staff, and faculty of the University of Oregon with “all things Apple” including Apple Authorized Repairs, new and pre-owned Mac sales, and a large selection of Apple accessories. The Eugene store also represents a template we are using as each of our stores approaches the end of its lease. We assess the performance of each store by examining the desirability of the location, the history of customer foot traffic, order conversion rate, occupancy costs and bottom line store profitability. In some cases, this analysis may result in a change of location. In Eugene, we were able to find a better location at a significantly lower overhead cost, which should result in improved store profitability.”
About Cool Holdings, Inc.
Cool Holdings is a Miami-based company that is the parent of Simply Mac, a chain of retail stores and an authorized reseller under the Apple Premier Partner program of Apple products and other high-profile consumer electronic brands. Additional information can be found on its website at www.coolholdings.com and www.simplymac.com.
Forward-looking and cautionary statements
Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements, including those related to our efforts to reexamine store locations to improve profitability, involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements, including actions by third parties. A list and description of various risk factors related to Cool Holdings, Inc. can be found and reviewed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, which can be accessed under the Company’s profile at www.sec.gov. These forward-looking statements speak only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release, except as required by law.
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Vernon A. LoForti, CFO