Sam Goody
Sam Goody is a music and entertainment retailer in the UnitedStates and formerly in the UnitedKingdom, operated by TheMusicland Group, Inc. It was purchased by in2000, was sold to SunCapital Partners in2003, and filed for bankruptcy in2006, closing most of its stores. The remaining stores were purchased by TransWorld Entertainment, which also runs FYE,, and SuncoastMotion PictureCompany.
Sam Goody specialized in music, video, and videogame sales. Between 2007 and 2008, TransWorld converted most of the stores intoFYE stores., there is only one SamGoody store left within the UnitedStatesin the RogueValley Mall in Medford, Oregon.
History
of NewYork City opened a small record store on 9thAvenue shortly after the advent of vinyl long-playing records in the late1940s. Although he did some retail business from his main store on 49thStreet, most of his volume was in sales at discount prices, of which he was a pioneer. He became something of a folk hero among penniless college students as the first successful LPdiscounter.Later, the Sam Goody name was applied to a chain of record stores established in1951 by Gutowitz. In1959, a group of creditors took over the company to collect $2.4million indebts.
In 1978, the company was acquired by the AmericanCan Company, the owners of Minneapolis-based Musicland, Goody's rival. SamGoody continued to grow through both acquisitions and organic growth, including the launch of its website. The stores averaged but varied in size from. The Musicland Group was once the largest music retailer in the UnitedStates, operating at its peak more than 1300stores, over800 of them SamGoodys, and earning over $2billion in annual revenue.
In 1986, SamGoody's corporate parent Musicland purchased the -based LicoricePizza chain and 26other recordstores from for $13million. The LicoricePizza stores were rebranded as SamGoody the following year.
Acquisition and demise
attempted to diversify its retail holdings by purchasing Musicland in2001, only to sell it two years later. In2002, BestBuy decided to consolidate some of the acquired stores by converting OnCue stores to the SamGoody brand.In March 2006, TransWorld Entertainment, which had been acquiring their competitors for several years, announced the purchase of 400 SamGoody and Suncoast stores. TransWorld kept 345 of the stores open and closed55. In late2006, TransWorld began changing the names of SamGoody stores to f.y.e., the company's signature retail store. TransWorld retained the SuncoastMotion PictureCo. name on about 170stores.
Trans World has announced their intention to focus on the f.y.e. brand and convert all SamGoody stores to f.y.e stores in the future. By February2009, TransWorld had removed the SamGoody brand from its corporate website. They kept a large store in SanDiego branded SamGoody due to the cost of changing the signs until late2012.
By late 2015, TransWorld had an operational SamGoody store in the Centreof Tallahassee in Tallahassee, Florida. The last recorded instance of this store was in an snapshot of the Centreof Tallahassee website from April4, 2016, only to disappear by April30.
In February 2020, TransWorld sold SamGoody's parentFYE to SunriseRecords for $11million.