8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) February 28, 2006

HASTINGS ENTERTAINMENT, INC.

(Exact name of registrant as specified in its charter)

TEXAS

(State or other jurisdiction of incorporation)

000-24381	75-1386375
(Commission File Number)	(IRS Employer Identification Number)

3601 Plains Blvd, Amarillo, Texas	79102
(Address of principal executive offices)	(Zip Code)

(806) 351-2300

(Registrant’s telephone number, including area code)

NONE

(Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Writtten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

	Section 1—Registrant’s Business and Operation
	Item 1.01 Entry into a Material Definitive Agreement
	Section 9—Financial Statements and Exhibits
	Item 9.01. Financial Statements and Exhibits.
SIGNATURES
Press Release

HASTINGS ENTERTAINMENT, INC.

Section 1—Registrant’s Business and Operation

Item 1.01 Entry into a Material Definitive Agreement

On February 28, 2006, Hastings Entertainment, Inc. (the “Company”) executed an amendment to the Company’s secured revolving credit facility with Fleet Retail Group, LLC and CIT Group/Business Credit, Inc. The amendment increases the Company’s credit line by $20 million to $100 million, lowers interest rates, and extends the maturity date from August 29, 2007 to August 29, 2011. All other terms and conditions are substantially the same, including the $10 million availability reserve. A copy of the press release is attached hereto as Exhibit 99.1.

Section 9—Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits.

99.1 Press Release dated March 1, 2006.

HASTINGS ENTERTAINMENT, INC.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 1, 2006	Hastings Entertainment, Inc.
	By:	/s/ Dan Crow
		Dan Crow
		Vice President, Chief Financial Officer (Principal Financial and Accounting Officer)

EX-99.1

NEWS RELEASE

Hastings Entertainment,
Inc.

CONTACT: Dan Crow
Vice President and
Chief Financial Officer
(806) 677-1422
www.gohastings.com

Hastings Entertainment, Inc. Amends Credit Facility

AMARILLO, Texas, March 1, 2006—Hastings Entertainment, Inc. (Nasdaq: HAST), a leading multimedia entertainment superstore retailer, today announced the execution of an amendment to its current secured revolving credit facility (the “Facility”) with Fleet Retail Group, LLC and CIT Group/Business Credit, Inc. “The amendment increases our credit line by $20 million to $100 million, lowers interest rates, and extends the maturity date from August 29, 2007 to August 29, 2011. All other terms and conditions are substantially the same, including the $10 million availability reserve,” commented Dan Crow, Vice President – Finance and Chief Financial Officer. “The amended Facility enhances our liquidity and operating flexibility. We believe the new Facility, together with internally generated funds, will be sufficient to fund our capital requirements, including new store growth, for the next five years,” said John H. Marmaduke, President and Chief Executive Officer.

Safe Harbor Statement

Certain written and oral statements set forth above or made by Hastings or with the approval of an authorized executive officer of the Company constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, the words “believe,” “expect,” “intend,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements which are not necessarily historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future, including statements regarding our future merchandise margins and our general guidance for fiscal year 2005, are forward-looking statements. Such statements are based upon Company management’s current estimates, assumptions and expectations, which are based on information available at the time of this disclosure, and are subject to a number of factors and uncertainties, including, but not limited to, our inability to attain such estimates, assumptions and expectations, a downturn in market conditions in any industry, including the current economic state of retailing (relating to the products we inventory, sell or rent) and the effects of or changes in economic conditions in the U.S. or the markets in which we operate. We undertake no obligation to affirm, publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Hastings

Founded in 1968, Hastings Entertainment, Inc. is a leading multimedia entertainment retailer that combines the sale of books, music, software, periodicals, new and used DVDs, videos and video games with the rental of videos, DVDs and video games in a superstore format. We currently operate 153 superstores, averaging approximately 20,000 square feet, primarily in small to medium-sized markets throughout the United States.

We also operate www.gohastings.com, an e-commerce Internet Web site that makes available to our customers new and used entertainment products and unique, contemporary gifts and toys. The site features exceptional product and pricing offers. The Investor Relations section of our Web site contains press releases, a link to request financial and other literature and access to filings with the Securities and Exchange Commission, which include officer certifications filed as exhibits to interim and annual filings.