Garland Store Gives DGSE Full East-West Metroplex Coverage
Dallas - June 28, 2013 - DGSE Companies, Inc. (NYSE MKT: DGSE), a leading wholesaler and retailer of jewelry, diamonds, fine watches, and precious metal bullion and rare coin products, today announced that it has opened a Dallas Gold & Silver Exchange retail location in Garland, Texas. This location, which represents DGSE’s ninth store in the Dallas-Fort Worth Metroplex, now provides the Company complete east-west coverage of the area. It also represents the company’s second new store opening during 2013, following the opening of its Southern Bullion Coin & Jewelry store in Cumming, Georgia in April. The company has also taken a hard look at its existing store locations, and made the difficult decision to close two Southern Bullion locations this year, which brings its total number of stores to 34 in seven states.
James Vierling, chief executive officer and chairman of the board, stated, “In the past year, we have focused primarily on opening new stores in the regions where we already have an existing presence. This allows us to better leverage advertising dollars, staffing, merchandising and management and will drive incremental traffic to markets in which we are already well recognized. This new store fits that strategy perfectly, increasing our presence both in Garland and throughout the DFW metro area, and as such, we expect this store to reach profitability faster than opening a store in a completely new market.”
The new store is located at 6226 Broadway Blvd, Suite 110, in Garland, Texas, 75043.
Garland, a part of the Dallas–Fort Worth Metroplex, is the 12th most populous city in the state of Texas and has a population of approximately 227,000 as of 2010. In 2008, Garland was ranked #67 on CNN and Money magazine's list of the "Top 100 Places to Live.”
About DGSE Companies
DGSE Companies, Inc. wholesales and retails jewelry, diamonds, fine watches, and precious metal bullion and rare coin products through its Bullion Express, Charleston Gold & Diamond Exchange, Dallas Gold & Silver Exchange, and Southern Bullion Coin & Jewelry operations. DGSE also owns Fairchild International, Inc., one of the largest vintage watch wholesalers in the country. In addition to its retail facilities in Alabama, Florida, Georgia, Illinois, North Carolina, South Carolina, Tennessee and Texas, the Company operates internet websites which can be accessed at www.bullionexpress.com, www.dgse.com, www.cgdeinc.com, and www.sbcoin.com. Real-time price quotations and real-time order execution in precious metals are provided on another DGSE website at www.USBullionExchange.com. Wholesale customers can access the full vintage watch inventory through the restricted site at www.FairchildWatches.com. The Company is headquartered in Dallas, Texas and its common stock trades on the NYSE MKT exchange under the symbol "DGSE."
This press release includes statements which may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
DGSE Companies, Inc.
Jim Vierling, CEO
Brett Maas, Managing Partner