New Location in Cumming, Georgia Expands Markets Presence, Consolidates Multi-Location Efforts
DGSE Companies, Inc.'s wholly-owned subsidiary Southern Bullion Coin & Jewelry, the Southeast's largest dealer of precious metals, rare coins and jewelry, announced today the grand opening of a Cumming, Georgia location, the 24th Southern Bullion store nationwide and the second in the Atlanta market.
The new store is located at 882 Bufurd Highway, in the "heart" of Cumming's retail shopping landscape. Cumming is the county seat of Forsyth County, home to approximately 190,000 people and one of the fastest-growing counties in the nation. With an average median household income near $85,000, the county ranks as the wealthiest in Georgia.
The new location joins the existing Southern Bullion Coin & Jewelry storefront in Atlanta's popular Buckhead district, 30 miles to the south. Atlanta has been identified as a strategic growth market for Southern Bullion, which operates 23 other stores throughout the region, with multiple stores in key markets such as Birmingham, AL; Mobile, AL; Montgomery, AL; and Chattanooga, TN.
"We are extremely excited about the grand opening of our latest store in Cumming, and the continued expansion in the South's largest Metro area," commented Jim Vierling, President and CEO of DGSE Companies, Inc. "Not only is the new store in an area thriving with our primary target demographic, it's our second store in the Atlanta market - a strategic move that provides immediate and substantial increases in operating and advertising efficiencies. The market and our metro-wide expansions plans are very similar to the suburban layout and demographics of the Dallas/Fort Worth market, where we've built our Dallas Gold & Silver Exchange brand into a market-dominating 8 retail locations, with a 9th to open next month."
The grand opening is accompanied by an aggressive advertising campaign online, on broadcast television and in the Atlanta Journal Constitution. That campaign promotes the new store, the existing Buckhead store and a 2-week "Gold Buying Event" offering customers a 10% bonus for their valuables, along with daily drawings.
About DGSE Companies, Inc.
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.