Guitar Center

Cambridge, Mass. -- Highland Consumer Partners, a growth-stage venture capital firm focused on the consumer sector, announced that retail executive Marty Hanaka joined the firm in August of this year as an operating partner.

Hanaka most recently was the interim CEO of Guitar Center, from January 2013 to April 2013.  

Previously, he served as the chairman of Golfsmith International Holdings, from April 2007 to November 2012, and was CEO from June 2008 to November 2012.   

Dallas -- CBRE’s National Retail Investment Group announced the sale of Centennial Plaza, a 233,797-sq.-ft. power center in Oklahoma City, on behalf of Kimco Realty Corp., to American Realty Capital-Retail Centers of America.

Centennial Plaza, at 100% occupancy, is tenanted by Home Depot, Best Buy, Gordmans and Guitar Center. Home Depot’s Centennial Plaza location is the retailer’s first and only urban location in the city.
 

Los Angeles – Guitar Center is launching the fourth installment of its omnichannel “Guitar Center’s Singer-Songwriter,” offering aspiring singer-songwriters across the country the chance to take their careers to the next level, on Sep. 1. The winner of Guitar Center's Singer-Songwriter 4 will have the opportunity to record a four-song E.P with producer Don Was, perform to a national television audience on “Jimmy Kimmel Live,” new gear, $25,000 cash and more.

Los Angeles -- Guitar Center will open a flagship in Manhattan’s Times Square on Aug. 7.

The store is located in the original New York Times building. Designed by Eight Inc., the space will offer a high-energy, hands-on environment in which customers are encouraged to interact with the wide selection of instruments and staff.  

Leading United Kingdom retailer Sainsbury's has chosen the software and services of Quantum Retail Technology to optimize its fashion and general merchandise inventory through improved allocation and replenishment functionality.

Los Angeles -- Guitar Center's total debt has been reduced by approximately $500 million and annual cash interest expense has been reduced by more than $70 million. The improved financial position of the company will enable Guitar Center's management team to further invest in its people, store base and brands to accelerate growth.

Westlake Village, Calif. - Guitar Center has selected 360pi to increase their awareness of the competitive marketplace and to utilize the actionable insights gained from the 360pi intelligence to increase market competitiveness. Guitar Center had been using another provider, but selected 360pi’s 360price and 360assortment products to deliver near real-time insights into their competitive set.

Westlake Village, Calif. – Guitar Center is opening a Serato-branded digital music area in its Brooklyn, N.Y., store on Oct. 24. The 2,500-sq.-ft. area provides a space for DJs and producers to demo and buy Serato products.