Howard Goody, owner of Sam Goody Music prior to his aviation ventures, started the business in 1978, shortly after learning how to fly over Farmingdale skies at mid-island Republic Airport. It is considered a superior technology to VHS video and laser discs. 2418 Main Street Jimmy Iovine Knows Music and Tech. The program, which issued a 10% rebate when a member spent $150, had developed a reputation . The remaining stores were purchased by Trans World Entertainment, which also runs FYE, Saturday Matinee, and Suncoast Motion . Best Buy attempted to diversify its retail holdings by purchasing Musicland in 2001, only to sell it two years later. In 1978 American Can acquired Sam Goody. "retail pioneer sam goody dead at 87." Amoeba San Francisco is not too shabby either. 10 free leads on us . The price cuts have started on Feb. 1 and will be around 20%-40% to start. Help us make this company more transparent. By 2006, Sam Goody along with the other Musicland assets was bought by Trans World Entertainment which operated the popular FYE (For Your Entertainment) chain. Sam Goody planned to evaluate the success of this test store in order to gauge the potential of the concept in Japan. The music division of the company was eventually sold off and rolled out into the name Musicland Stores Corporation. Log in . In 1981, Sam Goody Inc. faced a lawsuit for dealing counterfeit cassette and eight-track tapes. 1 review on . When the promotion proved successful, he repeated it with half-dollars, buying 400,000 JFK 50-cent pieces to give to customers spending $10. You can follow any responses to this entry through the RSS 2.0 feed. They loved each other then and they still do, he later said. Formerly owned by Trans World Entertainment, it began in 1993 and was expanded in 2001 after buying out and rebranding mall-based Camelot, Strawberries, Record Town, Coconuts and DiscJockey stores. Musicland Holding files for Chapter 11 due to increased retail competition, music downloads. Trans World eventually converted all of the Sam Goody locations into f.y.e. Studio Stores to Close: Owner AOL Time Warner fails to find a buyer for the ailing chain", "Perry Drug Stores Proposes To Acquire 12 A.L. The Wall was known to by their customers for their Loyalty programs, to listen to music before purchasing it and exchange any of their damaged cassettes and CDs for free. "On Cue" redirects here. U.S.A. The second part of the company's strategy called for greater promotion of the company's name and emphasis on brand recognition. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Hundreds of stores were slated to be opened, but only 89 ever were. //