Next retailer to go bankrupt? (Neiman marcus, payless, J Crew, Nordstrom, Guitar center) (interview, suspect)
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Toys r us is just the latest. I walked through sears and its like a sense of impending doom. No more guitar center??? People cant come in, jam for 2 hours on various guitars and amps and not buy anything? Neiman marcus would be a big blow to the Dallas area
So what retail stores do people think are doing well?
The guitar industry is in pretty bad shape, but Gibson Guitar Co. is in the worst.
Gibson has over $300 million in secured notes that are coming due in June & July, and only has about 1/3 of the amount needed to cover them. Other major guitar manufacturers are in better shape, but not all that much better.
Fading retail store sales are only a part of the industry's problem, and not all areas in the guitar market are affected equally; high-end acoustic guitars, for example, still sell very well in brick and mortar stores. When a player is thinking about buying a $3,000 or more guitar, they usually want to see and play it in person before purchasing.
On the other end, the solid-body electric guitars, once the largest sellers in the industry, are now in real sales trouble in all sales outlets, internet or brick and mortar. The electric guitar was something almost every teenage boy wanted for many decades, but not now. Teen boys would rather own games than guitars these days.
The guitar industry is in pretty bad shape, but Gibson Guitar Co. is in the worst.
Gibson has over $300 million in secured notes that are coming due in June & July, and only has about 1/3 of the amount needed to cover them. Other major guitar manufacturers are in better shape, but not all that much better.
Fading retail store sales are only a part of the industry's problem, and not all areas in the guitar market are affected equally; high-end acoustic guitars, for example, still sell very well in brick and mortar stores. When a player is thinking about buying a $3,000 or more guitar, they usually want to see and play it in person before purchasing.
On the other end, the solid-body electric guitars, once the largest sellers in the industry, are now in real sales trouble in all sales outlets, internet or brick and mortar. The electric guitar was something almost every teenage boy wanted for many decades, but not now. Teen boys would rather own games than guitars these days.
Interviewed at Gibson years ago (corp).
An absolute train wreck coming. Long overdue. Product was NEVER the problem.
The guitar industry is in pretty bad shape, but Gibson Guitar Co. is in the worst.
Gibson has over $300 million in secured notes that are coming due in June & July, and only has about 1/3 of the amount needed to cover them. Other major guitar manufacturers are in better shape, but not all that much better.
Fading retail store sales are only a part of the industry's problem, and not all areas in the guitar market are affected equally; high-end acoustic guitars, for example, still sell very well in brick and mortar stores. When a player is thinking about buying a $3,000 or more guitar, they usually want to see and play it in person before purchasing.
On the other end, the solid-body electric guitars, once the largest sellers in the industry, are now in real sales trouble in all sales outlets, internet or brick and mortar. The electric guitar was something almost every teenage boy wanted for many decades, but not now. Teen boys would rather own games than guitars these days.
Yeah I would never buy a nice guitar without playing it. I wil say that most of these guitar stores have the absolute worst customer service. The guys that work in there are usually musicians who could care less about the customer. Same with record stores and their disappearance. Usually the worst customer service at places like record bar, camelot,sam goody.
They would play awful music and treat your record selection with contempt
they are now gone like the hairstyles of the 1980s. tape world didnt even have the foresight to add cds to its title, they were banking on cassette tapes
Toys r us is just the latest. I walked through sears and its like a sense of impending doom. No more guitar center??? People cant come in, jam for 2 hours on various guitars and amps and not buy anything? Neiman marcus would be a big blow to the Dallas area
So what retail stores do people think are doing well?
Location: Big Island of Hawaii & HOT BuOYS Sailing Vessel
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I paid a lot when training at GNC and today with Amazon would never need to shop there again. Shipments of bulk protein by mail don't require me to go to the mall and pay retail.
Costco hurts their vitamin sales by selling in bulk.
However, remember there is a lot of profit in every bottle of vitamins. Therefore, while sales and profits will be squeezed, I expect they will survive.
Low profit items are what get squeezed the most.
I think the big sporting goods stores are facing a tough time on three fronts:
1. Americans are getting ever more unhealthy and not likely to buy sporting equipment.
Speaking of hanging on, how does Subway manage to stay on for this long? I can slap together a sandwich from stuff in my fridge that blows away that junk they sell there anyday.
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