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Let’s Get Physical! Vinyl Sales Up >51%, CD Sales Up for First Time in 17-yrs

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Musicians Counterattack, Gain Against the Geeks

In the latest report from the music world, we learned two surprising facts: First, for the first time in 17-years, retail sales of physical compact discs actually increased. And second, for the first time since 1991, vinyl records are the most popular physical media format. It’s big news and much of the media – even mainstream news outlets like CNN – reported on this development. It appears to be part of a surprising swing by consumers back to physical media, as sales of vinyl records in 2021 saw a stunning year-over-year increase of 51.4% – the biggest increase of ANY format, physical or streaming.

What the heck is going on here?

See more on physical media clawing its way back into the hearts of consumers

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After Strong 2020, Researchers Project Further eCommerce Growth in 2021

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Sonos for sale on Onkyo USA before closing
Sonos for sale on Onkyo USA before it closed

In 2020, the year of COVID-19, there was much death and devastation in the U.S. and around the world. But one business segment soared during the pandemic as a result of local municipalities and states around the country putting their citizens into 24/7 lockdown at home – and that business was eCommerce. With in-person retail stores closed by local government orders, consumers had no option but to shop online to obtain the things they needed.

So what do experts expect will happen to the growth rate for eCommerce in 2021, now that all states have removed most or all of their restrictions and in-person retail stores are all open for business? You might be surprised…

See the latest forecast for eCommerce growth & Total Retail growth in 2021…

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Closing of Fry’s Electronics Proves That Even Zombies Eventually Die

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Fry's store with empty Samsung display
Empty Samsung display in a Fry’s store this past holiday selling season [Photo by Mike Heiss]

By now you most likely have heard that Fry’s Electronics, a large electronics retail chain that featured big-format store footprints and often dramatic designs in a variety of wacky themes, has officially closed their doors. Since almost all of their stores were west of the Mississippi River – 31 in total across nine states at its high water mark – most of those bemoaning this loss are westerners…especially Californians.

But the fact is this is hardly surprising news as Fry’s has been basically a zombie for at least two years now.

See more on the zombie Fry’s closing…

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Judge Approves Reorg Plan by AVDG Parent Guitar Center

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Photo of Guitar Center store in Albany, NY
[Photo: Gabby Jones/New York Times]

Company to Exit Bankruptcy Soon

The judge hearing the matter of the bankruptcy filing of Guitar Center, Inc., parent company of custom integration company Audio Visual Design Group (AVDG), has accepted the organization’s plan to reorganize operations in order to emerge from bankruptcy. With this move by the court, the stage has been set for Guitar Center to exit from bankruptcy proceedings soon, perhaps any day now.

See what the court’s action means for Guitar Center & AVDG…

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Sonos Stock Slammed on News Apple Stores Drop the Line

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Photo of Apple store in Chicago

Lost 7% of Value in After-Hours Trading

Bloomberg News reported late on Monday that Apple is dropping Sonos [NASDAQ: SONO] and other non-Apple branded products from their stores. The news of Sonos losing such a major customer caused their stock to derail in after hours trading, down almost 7% in value at one point. On Tuesday, Sonos stock price closed down 3.2% as Wall Street digested the news.

See why Apple stores are dropping Sonos…

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Retail Sales Growth Slows in July, Up Just 1.2%

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Photo of Apple store in Chicago

Only Electronics & Appliances Show Big Growth

In a new and troubling sign that the economy is not yet out of the woods, government data showed that for the month of July, retail sales barely crept up 1.2% overall. But there was one bright spot in the government’s report – retail sales of electronics and appliances jumped an impressive 23%.

See more on retail sales growth slowing…

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NY Attorney General Files Action Against B&H Photo Video Alleging Multi-Million Dollar Tax Dodge

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Whistleblower Notified Authorities

B&H logo

New York State Attorney General Letitia James has filed a lawsuit against B&H Photo Video alleging that the NY retailer has operated a scheme to avoid paying the State of New York millions of dollars in taxes on money earned from manufacturer reimbursements. The State says B&H violated New York Tax Law, New York Executive Law, and the New York False Claims Act, and for this reason is asking the court for treble damages that are potentially in the tens of millions of dollars.

See more on the NY AG vs. B&H Photo Video…

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CEDIA 2019: Onkyo USA Says It Will Become a Retailer of Sonos, a Distributor Too

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onkyologo

Onkyo USA announced this week that it will become a retailer of Sonos wireless music systems – selling the company’s wireless music systems on Onkyo USA’s website. The company also says it will distribute the brand nationally as well.

See more on Onkyo’s partnership with Sonos…

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Bravas Group Sold to Private Equity Firm in $75 Million Deal

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Group Says Deal is Just the Beginning

Bravas Group logo

Bravas Group, a cooperative of integrators aggregated by Paul Starkey and Steve Firszt of VITAL MGMT, was first put together as part of VITAL MGMT’s consulting practice helping member companies better organize their operations, improve their financial performance, and drive greater profitability. Ultimately, the group’s fifteen members coalesced into one widely-spread unified organization, with over-arching centralized management and plans for the group to be packaged and sold.

Now, in a deal said to be valued at $75 million, Bravas Group has been sold to Presidio Investors, a private equity investment company with offices in San Francisco, CA and Austin, TX.

See more on the Bravas – Presidio deal…

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