Guitar Center Sales Hit High Note

Jul 30, 2003

By George Anderson

Just because boy bands don’t play their own instruments, doesn’t mean sales of guitars, keyboards, drums and other musical instruments are dead. In fact, based on Guitar Center’s latest quarterly report, people are making their own music (or at least attempting to) in growing numbers.

Sales for stores open at least a year were up five percent. Net sales were up nearly 15 percent with earnings per share up significantly, as well.

Moderator’s Comment: What is your assessment of Guitar
Center? Are there lessons that retailers not in the musical instrument business
can learn from Guitar Center?

Guitar Center is far from perfect but here are three pluses
that keeps us shopping its stores.

  1. A pleasant shopping experience (minus the figurative
    pat down on the way out of the store) with a knowledgeable, laid-back (perhaps
    too much in some cases) staff.

  2. Tremendous product selection and decent prices.

  3. Strong clicks as well as bricks operation when ordering
    something that doesn’t require a trip to the store.

    Anderson – Moderator

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