By Lisa Johnston
New products on display at the American International Toy Fair, held in N
SAN FRANCISCO -Good Guys said its net and comparable-store sales were up 6 percent for the five-month period ended Feb. 28, with total revenue hitting the $415 million mark.
The CE specialty store, in the midst of a turnaround captained by returning founder, chairman and CEO Ron Unkefer, attributed its sustained sales growth to continued strong demand for digital and high-tech products, including HD and HD-ready TVs, DVD players, digital cameras and camcorders, and digital satellite systems.
Good Guys said it also continued to benefit from companywide changes implemented over the past 18 months. The Unkefer initiatives were designed to shift the company's focus to higher-end consumer entertainment electronics and increase the level of experience and training for sales personnel.
According to president Ken Weller, the chain's "two distinct points of differentiation-product selection and customer experience-continue to serve the company well and have allowed us to consistently post sales increases and gain market share, even in the face of a softening economic climate."
Given the economic slowdown, Good Guys anticipates that comp-store sales growth will decline during the first half of its new fiscal year. It expects to maintain profitability, however, thanks in part to a recent 10 percent work-force reduction, a 50 percent reduction in corporate real estate costs and ongoing efforts to streamline operations.
Good Guys' sales mix for the five-month period was comprised of video at 56 percent, audio at 19 percent, mobile and wireless at 10 percent, and "other" at 15 percent.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.