Guitar Center’s web sales up 23% in second quarter
Guitar Center Inc., which operates MusiciansFriend.com and Giardinelli.com, is reporting another good quarter of Internet sales.
For the second quarter of 2005, web sales totaled $45.8 million, an increase of 23% from sales of $37.4 million for the same period in 2004. Total sales at Guitar Center in the quarter were $402.3 million, up 18.4% from $339.7 million a year ago. The web accounted for 11.4% of all sales in Q2 this year vs. 11% a year ago.
“The growth of web-based sales reflects the continued trend of our catalog customers’ preference in using the web to place their orders and the success of web-based promotions, “ Guitar Center says in its recently filed second quarter earnings report with the Securities and Exchange Commission.
In the second quarter, Guitar Center also completed its acquisition of the assets of Harmony-Central.com, an Internet content and information site. The acquired company will be separately maintained and operated by Musician’s Friend as Harmony Central Group LLC., Guitar Center says.
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