![]() ![]() īy late 2015, Transworld had a fully operational Sam Goody in the newly renovated Centre of Tallahassee in Tallahassee, Florida. They kept a large store in San Diego branded Sam Goody due to the cost of changing the signs until late 2012. By February 2009, Trans World had removed the Sam Goody brand from its corporate website. brand and convert all Sam Goody stores to f.y.e stores in the future. Trans World has announced their intention to focus on the f.y.e. The Sam Goody logo on the floor in front of a vacant store front, Moorestown Mall, July 2014 As a result, they announced more store closings, many of which were likely to be former Musicland stores. Īfter a dismal fourth quarter 2006 and a lackluster year in general, Transworld admitted that it failed to anticipate some of the challenges that remained associated with the remaining Musicland stores that it acquired, especially the "Sam Goody Rural" concept located in small communities. Trans World retained the Suncoast Motion Picture Co. began changing the names of mall-based Sam Goody stores to f.y.e., the company's signature retail store. In late 2006, Trans World Entertainment Corp. Trans World kept 345 of the stores open and closed 55. In March 2006, Trans World Entertainment, which had been acquiring their competitors for several years, announced the purchase of 400 Sam Goody and Suncoast stores. Following the closings, the Sam Goody chain was left with 191 stores. ![]() In February 2006, the company announced the closing of 226 Sam Goody and 115 Suncoast Motion Picture Company stores. Under Sun Capital, the company closed more stores and tried to get the business back to basics, but ultimately the challenges of competition and lackluster music industry releases proved too much and in January 2006, The Musicland Group filed for Chapter 11 bankruptcy. In 2002, Best Buy decided to consolidate some of the acquired stores by converting On Cue stores to the Sam Goody brand. Just weeks before Best Buy was prepared to liquidate the entire chain of stores (and after closing several hundred), they found a buyer in Sun Capital Partners, a private equity firm in Boca Raton, Florida, which acquired the chain in a cash-free transaction by acquiring Musicland's liabilities. Losses were exacerbated by a decline in physical CD sales in line with the general decline in CD sales, and by competition from big box retailers. Best Buy's attempt to transform Musicland into a youth-oriented small-format technology hub failed after two years of ownership. Acquisition and demise īest Buy attempted to diversify its retail holdings by purchasing Musicland in 2001, only to sell it two years later. The Licorice Pizza stores were rebranded Sam Goody the following year. In 1986, Sam Goody's corporate parent Musicland purchased the then just recently purchased 34-store Southern California-based Licorice Pizza chain and 26 other record stores for $13 million from Record Bar. The Musicland Group was once the largest music retailer in the country, operating at its peak more than 1300 stores, over 800 of them Sam Goodys, and earning over $2 billion in annual revenue. The stores averaged 4,600 square feet (430 m 2) but varied in size from 1000 to 30,000 square feet (2,800 m 2). Sam Goody continued to grow through both acquisitions and organic growth, including the launch of its website. In 1978, the company was acquired by the American Can Company (later renamed Primerica), the owners of Minneapolis-based Musicland, Goody's rival. In 1959, a group of creditors took over the company to collect $2.4 million in debts. Later, the Sam Goody name was applied to a chain of record stores established in 1951 by Gutowitz. He became something of a folk hero among penniless college students as the first successful large-scale LP discounter. Although he did some retail business from his main store on 49th Street, most of his volume was in mail-order sales at discount prices, of which he was a pioneer. Sam "Goody" Gutowitz (1904-1991) of New York City opened a small record store on New York's 9th Avenue shortly after the advent of vinyl long-playing records in the late 1940s. Clairsville, Ohio, and the Rogue Valley Mall in Medford, Oregon. As of August 2022, there were only two Sam Goody stores left within the United States-in the Ohio Valley Mall in St. Between 20, Trans World converted most of the stores into FYE. Sam Goody specialized in music, video, and video game sales. The remaining stores were purchased by Trans World Entertainment, which also runs FYE, Saturday Matinee, and Suncoast Motion Picture Company. It was purchased by Best Buy in 2000, sold to Sun Capital Partners in 2003, and filed for bankruptcy in 2006, closing most of its stores. Sam Goody is a music and entertainment retailer in the United States and United Kingdom, operated by The Musicland Group, Inc. ![]()
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