The CEA announced Tuesday that it has named MyerEmco President and COO Gary Yacoubian to the position of vice-chair on its executive board. Yacoubian becomes the first CE retailer executive to ever serve in such a position. Yacoubian has been on the CEA board since 2006, and previously was chairman of the group’s PARA division. He was already chairman of the CEA’s Division Executive Board, a position he will continue in along with his new duties. MyerEmco, which recently called off a merger with Harvey Electronics, was named one of four winners in Dealerscope’s Retail Excellence Awards last month.
MyerEmco Audio Video announced Wednesday morning that it has elected to pull out of its agreement to be acquired by Harvey Electronics, and will continue to be independently operated. “I have enjoyed my interactions with the Harvey team and felt great about the transaction,” MyerEmco CEO Jon Myer said in a company statement. “However, MyerEmco AudioVideo has had great success for 52 years as an independent audio/video specialist, and Gary Yacoubian and our team are energized to move forward as such.” No specific reason has yet been given for the termination of the merger. The deal, in which New York-based Harvey was
Shortly after Harvey Electronics’ proposed acquisition of MyerEmco AudioVideo was announced, Harvey Interim CEO Martin McClanan spoke with CustomRetailer Editor-in-Chief Joe Paone about the deal and the combined entity’s plans: Why has this happened? What factors led to this merger? Is it a response to anything? Clearly, it’s management’s objective to get Harvey on the growth track and return to profitability, so we’re obviously doing the things we think we need to do to grow again organically. We’ve expended our marketing, we’ve improved our web presence, we’ve re-engaged in a more aggressive training program, we’ve been bringing in new products—all of those things
It’s been one heck of a week in the world of electronics retailing. Harvey Electronics and MyerEmco got engaged. Tweeter has been reduced to “Hey buddy, can you spare some change?” status. Over in big-box land, Circuit City, who’s been in need of some positive publicity lately to say the least, prevented a terrorist attack on Fort Dix, of all things. Perhaps consumers can buy some extended warranties from them just for the sake of giving them props. Let’s get back to the Harvey/MyerEmco and Tweeter stories, though. Each of these three companies has based an increasing amount of their business on professional custom installation services
Shortly after the proposed acquisition of his company by Harvey Electronics was announced, MyerEmco President and COO Gary Yacoubian called CustomRetailer Editor-in-Chief Joe Paone from the Progressive Retailers Organization’s (PRO Group’s) annual spring meeting in Scottsdale, Ariz., to talk about the deal and the combined entity’s plans: CR: When did this whole process start? Yacoubian: To trace it all the way back in time, it started with conversations [MyerEmco CEO and Principal Owner] Jon Myer and I had months and months ago about how to deepen my level of partnership in the company, and perhaps for him to reap some of the benefits of what we’ve
In a surprising turn of events, struggling New York-area custom retail chain Harvey Electronics announced an agreement to acquire the similar-minded but consistently profitable Washington, D.C.-area MyerEmco AudioVideo chain. As such, the combined entity will become, in Harvey’s words, “the leading high-end custom installation business from New York to Washington, D.C.” Publicly traded Harvey hopes to “more than double its size” by adding privately-held MyerEmco’s 10 Washington-area locations. Harvey currently operates nine locations in Manhattan, North Jersey, Connecticut and Long Island. MyerEmco President and COO Gary Yacoubian would assume the same role at the combined company, as would Interim CEO Martin McClanan. MyerEmco CEO and Principal
New York-area C-tailer Harvey Electronics joined the PRO Buying Group on August 1. PRO’s roster now includes 17 CE retailers nationwide. Said PRO Executive Director Dave Workman, “The opportunity to work with someone of [Harvey President and CEO] Franklin Karp’s skill set and reputation will serve to strengthen our organization, while working in return to benefit Harvey through our best practice sessions, vendor initiatives, program benefits and networking made available through PRO Group’s membership of high-profile, independent consumer electronics retailers.” The other PRO members are Abt Electronics, Anderson’s, Bjorn’s Audio/Video, CarToys, Crutchfield, Electronics Expo, Flanner’s Home Entertainment, Huppin’s/OneCall, Ken Crane’s, ListenUp, MyerEmco, Ovation Audio/Video, 6th Avenue
Buffalo, N.Y.-area C-tailer Stereo Advantage has joined the PRO Buying Group, bringing PRO’s membership to 16 retailers with an aggregate $2.3 billion in annual sales. Said PRO Executive Director Dave Workman, “Stereo Advantage is a tremendous addition to our group. Their reputation in the industry as one of the most innovative, solution-oriented retailers makes them a perfect fit for the group.” “We are very excited about joining the PRO Buying Group,” said Stereo Advantage President Al Walters. “The membership of the group represents the nation’s best and most innovative independent retailers. In addition to the advantageous benefits afforded by the group’s remarkable vendor relationships, I am sure
Good salespeople are hard to find, and many C-tailers are going to great lengths to retain them. By Audrey Gray 2003 will go down in Wilshire Home Entertainment's company lore as the year no one called out sick. Interestingly, it was also the year strange packages arrived at the homes of the Southern California C-tailer's sales staff. One day, it was boxes of suntan lotion. Another, chocolate-covered macadamia nuts. Those packages were helpful little reminders of a huge incentive: If the sales force met an annual goal, each and every Wilshire employee would be awarded a week for two in Maui, all expenses paid.
The audio market, in its earliest years, was shaped by the music-loving hobbyists who created it—and it had nothing whatsoever to do with video. But the wants of the lifestyle customer, which now center around flat-panel TV, have brought the category into high definition, both literally and figuratively. Just what it takes to sell audio in a video-centric marketplace was the springboard for this survey of suppliers and custom retailers. The result: a diversity of opinions touching on at-retail presentation, product-design strategies and the influence of something that one retailer characterized as "the most exciting thing to come along since I got into