BUSINESS MEMO: RETAILER OF YEAR

Hastings Entertainment Inc., a multimedia entertainment retailer that combines the sale of books, music, software, periodicals and videotapes with the rental of videotapes and video games in a superstore format, has been named Retailer of the Year in the large retailer category (more than 25 stores) by Video Software Dealers Association.

Hastings, founded in 1968, operates 120 superstores in small- to medium-sized markets, including Hastings Books, Music and Video in Cape Girardeau.

Hastings, headquartered at Amarillo, Texas, reported first-quarter earnings of $1.2 million, or 14 cents per diluted share, up 30 percent from the $920,000 and 10 cents per share during the same period a year ago.

Sales during the quarter were $89.4 million, up 14 percent from the $78.3 million of a year ago.