Simply, Inc. Announces the Opening of its New Simply Mac Store in Orlando, Florida
Simply, Inc. (OTCQX: SIMP) has opened a new Simply Mac retail store in Orlando, Florida, strategically located near the University of Central Florida. This 1,562 square foot Apple Premier Partner Store will offer a full range of Apple products, repairs, and customer financing options. CEO Reinier Voigt remarked this opening marks the tenth store launched in five months, with plans for further expansion. The company aims to leverage lower occupancy costs for profitable growth and enhance customer loyalty, while maintaining compliance with Apple's site selection criteria.
- Opened a new Simply Mac store in Orlando, targeting a large student population.
- Continues expansion with ten new stores in five months, indicating strong growth.
- Utilizing reduced occupancy costs to drive profitable growth.
- Five of the ten new stores are relocations from expired leases, which may indicate underlying challenges.
- Future profitability may be impacted by dependence on compliance with Apple's site selection criteria.
MIAMI, March 8, 2021 /PRNewswire/ -- Simply, Inc. (OTCQX: SIMP) (the "Company") announced the grand opening of its new Simply Mac retail store in Orlando, Florida. This 1,562 square foot official Apple Premier Partner Store is located in the University Shoppes Orlando at 12101 University Blvd., Suite 237, Orlando, FL, and will offer the entire suite of Apple products, as well as third party accessories and Simply Mac's signature service and warranty repairs on all product categories by our trained team of Apple-certified technicians. Simply Mac also offers customer financing and extended warranty coverage on all Apple products.
Commenting on the new Simply Mac store opening, Reinier Voigt, Chief Executive Officer of Simply, Inc., stated: "We are excited to open our new store in Orlando, located across the street and within easy walking distance to the University of Central Florida ("UCF"), the largest university in the U.S. (by enrollment) with almost 72,000 students. Our team of sales professionals and Apple-certified technicians look forward to focusing on the product and service needs of UCF students, while our sister store located 23 miles away is closer to the theme parks of Walt Disney World, Universal, SeaWorld and Legoland, and is focused on the tourist population. Orlando claims to be the most visited destination in the U.S. with approximately 75 million visitors per year, including 6.5 million international visitors."
Commenting further, Mr. Voigt stated: "This new Orlando UCF store represents the tenth new store we have opened in the last five months. Five of those ten stores were relocations of stores from previously expired leases, but the other five were brand new stores in new locations. And, there are more new stores to come in the months ahead as we continue expansion of the Simply Mac footprint in North America. During this process, we are taking advantage of reduced occupancy costs in the current environment as we strive for "profitable" growth. Our site selection model includes criteria for local population, median household income, preferable presence of a major university, distance from the nearest Apple store and minimum projected annual operating income. In addition, all new locations must be approved in advance by Apple. We remain committed to our mission to provide our customers with transformational experiences that drive long-term customer loyalty, and to improving our profitability to increase shareholder value."
About Simply, Inc.
Simply, Inc. is a Miami-based company that is the parent of Simply Mac, the largest Apple Premier Partner in the U.S. with 45 retail stores in 16 states, an authorized reseller of the entire line of Apple products and provider of expert warranty repair service by Apple-certified technicians. Additional information can be found on its websites at www.simplyinc.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 store expansion plans, the offering of the entire suite of Apple products, third party accessories and service and warranty repairs on all product categories in the Orlando UCF Simply Mac store, our ability to open new store locations consistent with our site selection model, our ability to attract and retain new customers, our ability to meet projected operating income, our expectations for store profitability, our expectations for future lease rates, our ability to capitalize on operational efficiencies, our supply chain and our customer traffic, 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, including Apple. A list and description of various risk factors related to Simply, 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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SOURCE Simply, Inc.
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