Myer Emco

Through Good Times and Bad
January 1, 2009

Sales of extended warranties, despite a few glitches right before last year’s fourth quarter, seem to have stabilized going into the new year, due mainly to providers that have ramped up dealer programs and retailers who have discovered new strategies and leveraged market trends to push the coverage.

New, Now and Next in Technology
July 1, 2008

What makes a new technology a hit or a miss? A good idea, great execution and wisdom, or dumb-like timing of the right introduction that can generate the hits? Anything else and you can miss. Dealers whose business is to keep up with the unending parade and fast pace of new entertainment and life-enhancing gadgetry make judgments every day about whether to carry or ignore new tech offerings, learn all they can about the few chosen products and then figure out how to market and sell them. Dealerscope recently spoke with some very keen judges of the good, the bad and the ugly

MyerEmco: A True Hybrid
August 1, 2007

When Harvey Electronics announced in May it was buying MyerEmco Audio Video, some industry leaders thought the acquisition should have been the other way around, with the profitable company scooping up the struggling one. Last year was an exceptional one for the Gaithersburg, Md.-based MyerEmco, with $40 million in sales, an 8.11 percent boost over 2005, moving up to 92 from 93 in Dealerscope’s Top 101 CE Retailers listing. Meanwhile, Lyndhurst, N.J.-based Harvey, with operations based around the New York metropolitan area, dropped four slots, from 91 to 95, with just over $35 million in sales, an 11.57 percent drop from 2005. The latter has

Harvey, MyerEmco Push Back Closing Date
July 26, 2007

Harvey Electronics announced Wednesday that it plans to push the closing of its acquisition of MyerEmco, Inc. to Aug. 10, from its planned date in July. No reason was given for the delay. The New York-based Harvey Electronics in May announced the impending acquisition of the Washington, D.C.-based MyerEmco AudioVideo chain, in a transaction that would likely double Harvey’s size. Under the agreement, all current stores will retain their current brand names, but will be part of a new parent company overseen by current MyerEmco President and COO Gary Yacoubian. A filing with the Securities and Exchange Commission at the time of

CE Goes Green
July 1, 2007

Every day at 3 p.m., two high school students show up at Gerhard’s Appliances in Glenside, Pa., to do nothing but recycle boxes in a special machine. One hundred boxes a day, in fact. Gerry Gerhard, vice president of the 60-year-old family run business, looks on and smiles at the 10-by-24 foot space the company set up about two years ago for this purpose. While he’s well aware of the impact recycling has on the environment, Gerhard is especially satisfied with the hundreds of thousands of dollars it saves his business each year. “I used to have trash bills,” said Gerhard, who

Game On?
June 1, 2007

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

Harvey Electronics Agrees to Acquire MyerEmco
May 8, 2007

In a surprising turn of events, struggling New York-area custom retail chain Harvey Electronics announced an agreement to acquire the similar but reputedly thriving Washington, D.C.-area MyerEmco AudioVideo chain. As such, the combined entity will become, in Harvey’s words, “the leading high-end custom installation business from New York to Washington, D.C. Publicly traded Harvey hopes to “more than double its size” by adding privately-held MyerEmco’s 10 Washington-area locations. Harvey currently operates nine locations in Manhattan, North Jersey, Connecticut and Long Island. MyerEcmo President and COO Gary Yacoubian would assume the same role at the combined company. The fate of Harvey Interim CEO Martin McClanan

PARA Members Told Innovation Is Key to Survival
March 9, 2007

It’s no coincidence that CEA’s PARA Division is holding this year’s conference for high-end audio retailers at the Peabody Hotel, just a short distance from EHX Spring at the Orange County Convention Center. The proximity was chosen to give PARA dealers a chance to visit EHX to discover new products and technologies. The idea was “to expose people to that show,” said PARA executive director Kerry Moyer in his opening remarks. CEA also moved the conference from its usual May time slot to March, and shrunk it to two days from four. Moyer said the changes were made so dealers would need to spend

Myer Emco Receives SIM2 Award
August 21, 2006

Maryland-based Myer Emco stores received an award this week from Italian home theater projector SIM2. The award, given by SIM2’s Dan Drook, was granted for the excellent showroom in Myer Emco’s Tyson’s Corner location, used to demonstrate SIM2 product, in this case the manufacturer’s flagship projector, the HT3000, a single-chip, DLP-based 1080p model. Myer Emco has only been a SIM2 dealer for a short time, but the unique nature of the showroom they designed for this product prompted the award. In their showroom, they have two projectors, the HT3000, which sells for $16,000, and a $10,000 Sony SXRD projector. The concept is that the

Harvey Electronics Joins PRO Group
August 15, 2006

New York-area C-tailer Harvey Electronics joined the PRO Buying Group on August 1. PRO’s roster now includes 17 CE retailers nationwide. Said PRO Executive Director Dave Workman, “The opportunity to work with someone of [Harvey Electronics President and CEO] Franklin Karp’s skill set and reputation will serve to strengthen our organization, while working in return to benefit Harvey Electronics