With sales to the low- and mid-end of the market flagging, the Home Theater Specialists of America (HTSA) buying group is directing its members to tap deeper into the luxury client market. Combined sales of the group’s 62 members was up only about five percent this year, for combined revenue of about $500 million, said Richard Glikes, the group’s executive director. “I thought we would have had a better year,” he said during the group’s recent Fall Pump Up in Dallas. “Depending on the dealer, we’ve always had 20-40 percent compounded growth, and it seems we’ve hit a wall. We're used to being the
California retailer Wilshire Home Entertainment announced earlier this month that Mike McMaster has been named its new president. McMaster, a 12-year veteran of the company who had previously been operations manager and chief financial officer for the company, replaces Lyn Perry, who will remain on board as CEO. McMaster, a graduate of the exclusive Entrepreneur Program at the University of Southern California, is a part-owner of the company as well. The retailer, which operates locations in Thousand Oaks and Valencia, has won the Retailer of the Year award from Audio/Video International for each of the past six years.