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
Welcome to this year’s Retail Excellence Awards and congratulations to the four honorees: J&R Music and Computer World, Electronics Expo, MyerEmco Audio Video and DataVision. Chosen by Dealerscope editors and readers, this year’s winners exceeded the criteria in all categories: a willingness to embrace new products and technologies, the development of additional services, the ability to build and leverage strong partner relationships, industry-wide leadership and, perhaps most important, the strength and vision to change and evolve in the face of adverse conditions. While each of these companies operates under different business models, they all share similar strategies that will ensure their future prominence: a focus on
When iPods first landed in consumers’ palms, no one guessed how their impact would ripple through the CE industry and beyond. Once this little gadget got going, though, it quickly morphed from a simple portable music device into a hub with some very long spokes that have generated all sorts of corollary retail sales, margins and service opportunities, as well as a measure of regret in certain circles where a natural hesitancy prevented some dealers from hopping the iPod bandwagon in the early part of the sales curve. Lesson learned: It’s wise to keep an eye out for all manner of new technologies
The question plaguing independent consumer electronics retailers used to be: Do you want to get into the video game console business? Today, the question seems to be: Do you even have a choice? When everything is about “high-def” and the two biggest sources of high-definition hardware are the Xbox 360 and PlayStation 3, a retailer avoiding consoles is like a baseball player refusing to swing at curveballs. Sure you can still hit the fastball out of the park, but you’re severely limiting just how successful you can be every time you get the bat in your hand. In the land where everyone is either a Mets
A combined Harvey Electronics and MyerEmco is a merger of equals, but one that will eventually create a stronger company, executives from both companies said shortly after announcing Harvey’s plans to buy MyerEmco for an undisclosed sum. The two companies essentially have the same number of stores and employees, and share a similar business model that focuses on retail and custom installation sales and services. Once the acquisition is finalized, which both sides hope will happen as soon as possible, the company will be able to leverage its training, marketing, IT systems and logistics to truly differentiate itself “from the big
I’m sometimes asked why MyerEmco AudioVideo is a member of the PARA division of CEA. After all, we’ve been in business for 51 years and continue to be successful, but my answer is “Why wouldn’t we be members? Membership is invaluable.” You might say MyerEmco is a quintessential A/V specialty retailer with 10 stores in the Washington, D.C., metropolitan area. Over the years we’ve made the transition from audio specialist to true audio/video operation with about half of our business in custom installation and half at retail In that half-century the video segment of our business has grown dramatically, of course. When I joined the
This month, Dealerscope features 40 of the brightest over-achievers in the consumer electronics business. They hail from a variety of market sectors--they're retailers, marketing managers, product developers and manufacturers--but each of these all-stars have one thing in common: They were selected from nominations supplied by their industry peers based on success achieved before the age of 40.