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Coconuts Music

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2428392, Inc.
FYE
IndustryRetail
Founded1993; 33 years ago (1993) (originally as f.y.e.)
Trumbull, Connecticut, United States
HeadquartersAlbany, New York, U.S.[1]
Number of locations
210 (2021 data)
ProductsCDs, vinyl records, Ultra HD Blu-ray, Blu-ray 3D, Blu-ray/DVDs, electronics, video games, merchandise, candy
ParentTrans World Entertainment (1993–2020)
Sunrise Records (2020–present)
SubsidiariesCoconuts Music & Movies (2020–present; last store closed 2024)
Sam Goody (2020–2025)
Suncoast Motion Picture Company (2020–present)
Websitefye.com
File:FYE logo.png
Logo used from 2001 through 2017

2428392, Inc. operates under the trade name FYE (an acronym for For Your Entertainment), a prominent American entertainment retail chain headquartered in Albany, New York. Initially part of Trans World Entertainment,[2] the brand was established in 1993[3] and experienced growth phases in 2001, 2006, and again in 2009 following acquisitions and rebranding of numerous mall-based outlets including Camelot Music, Sam Goody, Spec's Music, Strawberries, Record Town, Coconuts Music & Movies, DiscJockey, Saturday Matinee, The Wall, Suncoast Motion Picture Company, Musicland, Media Play, and HMV. As of May 2019, there were 206 stores in operation. By 2023, FYE remains a division of 2428392, Inc., continuing to maintain its corporate headquarters.

History

File:Fye store tower city center cleveland.JPG
FYE location inside Tower City Center, Cleveland, Ohio

The inaugural FYE outlet launched in 1993 at the Trumbull Mall situated in Trumbull, Connecticut.[4][5] Subsequently, a second store opened its doors in 1995 at Eastview Mall located in Victor, New York, followed by a third establishment at the Colonie Center in Colonie, New York in 1997.[6]

In the year 2001, following the acquisition of Camelot Music, Trans World consolidated its mall-based outlets under the "f.y.e." banner. This year also marked an extensive rebranding initiative that positioned f.y.e. as the flagship name for all Trans World's mall-oriented retail locations as well as numerous standalone stores. Nevertheless, some freestanding and strip mall locations continued to operate under regional brand names such as Planet Music. The company updated its branding to "FYE" across stores and online platforms in 2016.

By 2006, Trans World began converting former Coconut stores and locations previously operating as Media Play near Salt Lake City and Buffalo into large-format FYE superstores. In contrast, during the economic challenges of 2009, FYE shuttered more than one hundred outlets,[7] with an additional fifty-two closures occurring in 2012.

In an effort to revitalize the brand's presence, Trans World launched new concept stores under the FYE name at various sites including the Rockaway Townsquare mall in Rockaway, New Jersey during 2016. These updated stores introduced a refreshed logo and aesthetic while emphasizing pop culture merchandise and expanding vinyl record selections along with modern turntables. Concurrently, offerings of Blu-rays, DVDs, and CDs were scaled back.

The company's founder and CEO Bob Higgins passed away in March of 2017. Higgins was instrumental in creating the FYE brand and sustaining its profitability that allowed it to remain one of the few surviving music retail chains.[8]

In late 2018, FYE’s parent company faced federal litigation alleging deceptive practices involving "free" or "loyalty" memberships and magazine subscriptions that charged customers $11.99 monthly until cancellation. Additional accusations included unauthorized sharing of customer data with marketing firm Synapse.[9][10]

During that same year, FYE closed thirty-three locations with plans to close an additional thirty-five before Trans World's fiscal year ended on February 2, 2019.[11]

For the fiscal year ending February 1, 2020, FYE reported losses amounting to $50.7 million—more than double the previous year's deficit.[12] Later that year saw the acquisition of FYE by Sunrise Records (retailer), who completed the purchase from Trans World Entertainment.[13][14][15]

Nameplates

While most chains acquired by the parent company Trans World Entertainment were fully transformed into FYE locations—many of which have since shut down—several chains have maintained a limited number of stores open. These outlets operate similarly to standard FYE stores in terms of inventory and management, differing only in their branding. The remaining nameplates include:

Additionally, a combined FYE and Suncoast Motion Picture Company store continues to operate in Beavercreek, Ohio within The Mall at Fairfield Commons.

See also

References

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  8. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
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  14. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
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External links

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