Get Our Extension

National Record Mart

From Wikipedia, in a visual modern way
National Record Mart
Founded1937 in Pittsburgh, Pennsylvania
FounderHyman, Sam, and Howard Shapiro
DefunctEarly 2002
Headquarters,
USA
Number of locations
130+
Area served
United States
ProductsAlbums

National Record Mart, known as NRM for short, was an American music store chain. The first music store chain in the United States, it was founded in 1937 in Pittsburgh, Pennsylvania, and operated more than 130 locations at its peak. Other stores under its ownership included Oasis, Music X, Waves Music, and Vibes. The chain filed for bankruptcy in 2001 and closed the last of its stores in 2002.

History

It was founded in 1937 by Hyman Shapiro and his sons, Sam and Howard, as Jitterbug Records in downtown Pittsburgh, Pennsylvania. The store specialized in used 78 RPM records from jukeboxes. After opening two more stores, the chain became known as National Record Mart by 1941. Hyman's third son, Jason, later became involved in the family business as well.[1] National Record Mart operated 20 Pittsburgh-area stores in the 1960s, at which point the chain began locating in regional shopping malls, including South Hills Village and Northway Mall (now The Shoppes at Northway). The first stores outside Pennsylvania opened in the 1970s, including Roanoke, Virginia, Buffalo, New York, and Chicago, Illinois. Hyman retired in the mid-1970s, with his three sons maintaining the business. In 1978, National Record Mart opened a new chain, Oasis Records & Tapes.[1]

The Shapiro brothers expanded National Record Mart to 76 stores before retiring and selling the chain to a group of investors headed by William A. Teitelbaum. Under his ownership, the chain planned expansion to over 200 stores, increased its ad campaigns, and introduced a shopping mall-based store called Waves Music, which specialized in compact disc sales. Due to heavy debts assumed by Teitelbaum's leveraged buyout of the chain, 20 locations were sold to The Wall, a music chain owned by British company WHSmith, in 1991.[1] National Record Mart went public in 1993, generating $10 million in capital that year and receiving a new line of credit, in addition to purchasing nine locations from Leonard Smith Music. The chain's turnaround earned it a nomination for Retailer of the Year from the National Association of Recording Merchandisers (now known as the Music Business Association). By the middle of the decade, NRM faced increased competition as discount stores such as Kmart and Walmart began selling music at lower prices than specialty record stores, and chain bookstores such as Barnes & Noble began selling music as well. National Record Mart made a failed attempt to purchase the Wherehouse chain, which was under Chapter 11 bankruptcy protection, at the time.[1]

In the mid-1990s, the chain also opened new concept stores, including an alternative music specialty store called Music X,[2] and Vibes Music, which catered to college markets.[3] National Record Mart introduced websites for both itself and Waves Music in 1998. The sites featured the ability to sell used albums, download music, and create custom-made albums. The chain also expanded into Hawaii and California through a purchase of Tempo Music in 1998.[1] During this time, two of the three Shapiro brothers died: Howard in August and Sam in November.[4]

One year later, National Record Mart entered a partnership with the World Wrestling Federation (now WWE) to sell exclusive licensed products. The chain had 175 stores in 30 states in 1999.[1] Despite the addition of the websites, National Record Mart continued to lose sales through 1999 and 2000.[5] National Record Mart filed for Chapter 11 bankruptcy in June 2001 after five record labels pushed for liquidation, claiming $19 million in owed revenue. As a result, creditors attempted to force Teitelbaum to step down as owner and replace him with Michael Catain.[6] National Record Mart closed the last of its stores in 2002.[7]

Discover more about History related topics

Shopping mall

Shopping mall

A shopping mall is a North American term for a large indoor shopping center, usually anchored by department stores. The term "mall" originally meant a pedestrian promenade with shops along it, but in the late 1960s, it began to be used as a generic term for the large enclosed shopping centers that were becoming commonplace at the time. In the U.K., such complexes are considered shopping centres, though "shopping center" covers many more sizes and types of centers than the North American "mall". Other countries may follow U.S. usage while still others follow U.K. usage. In Canadian English, and often in Australia and New Zealand, the term 'mall' may be used informally but 'shopping centre' or merely 'centre' will feature in the name of the complex. The term 'mall' is less-commonly a part of the name of the complex.

South Hills Village

South Hills Village

South Hills Village is a two-level shopping mall located in the Pittsburgh suburbs of Bethel Park and Upper St. Clair, Pennsylvania, United States.

Roanoke, Virginia

Roanoke, Virginia

Roanoke is an independent city in the U.S. state of Virginia. At the 2020 census, the population was 100,011, making it the 8th most populous city in the Commonwealth of Virginia and the largest city in Virginia west of Richmond. It is located in the Roanoke Valley of the Roanoke Region of Virginia.

Buffalo, New York

Buffalo, New York

Buffalo is the second-largest city in the U.S. state of New York and the seat of Erie County. It lies in Western New York, at the eastern end of Lake Erie, at the head of the Niagara River, near the United States border with Canada. With a population of 278,349 according to the 2020 census, Buffalo is the 78th-largest city in the United States. Buffalo and the city of Niagara Falls together make up the two-county Buffalo–Niagara Falls Metropolitan Statistical Area (MSA), which had an estimated population of 1.1 million in 2020, making it the 49th largest MSA in the United States.

Compact disc

Compact disc

The compact disc (CD) is a digital optical disc data storage format that was co-developed by Philips and Sony to store and play digital audio recordings. In August 1982, the first compact disc was manufactured. It was then released in October 1982 in Japan and branded as Digital Audio Compact Disc.

WHSmith

WHSmith

WHSmith is a British retailer, headquartered in Swindon, England, which operates a chain of high street, railway station, airport, port, hospital and motorway service station shops selling books, stationery, magazines, newspapers, entertainment products and confectionery.

Music Business Association

Music Business Association

The Music Business Association, formerly known as the National Association of Recording Merchandisers (NARM), is a not-for-profit trade association based in Nashville, Tennessee that seeks to promote sustained financial growth and bolster inclusion & equity efforts in all areas of the global music business by hosting in-person and virtual events, offering educational materials, and fostering engagement opportunities for its members. Music Biz's membership includes major & independent record labels, streaming services, music retailers, distributors, music tech companies & startups, publishers, lawyers, and all others involved in the sale of music and related merchandise. Representing more than 90 percent of the industry at large, Music Biz provides opportunities for collaboration between professionals from all subsets to invest in the future of the entire music business while also addressing each business segment's individual needs.

Barnes & Noble

Barnes & Noble

Barnes & Noble Booksellers is an American bookseller. It is a Fortune 1000 company and the bookseller with the largest number of retail outlets in the United States. As of July 7, 2020, the company operates 614 retail stores across all 50 U.S. states.

Alternative music

Alternative music

Alternative music may refer to the following types of music:Alternative rock Alternative pop Alternative R&B Neo soul, sometimes known as alternative soul Alternative reggaeton Alternative hip hop Alternative dance Alternative metal Christian alternative rock Indie folk, sometimes referred to as alternative folk Alternative country

Hawaii

Hawaii

Hawaii is a state in the Western United States, located in the Pacific Ocean about 2,000 miles (3,200 km) from the U.S. mainland. It is the only U.S. state outside North America, the only state that is an archipelago, and the only state in the tropics.

California

California

California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2 million residents across a total area of approximately 163,696 square miles (423,970 km2), it is the most populous U.S. state and the third-largest by area. It is also the most populated subnational entity in North America and the 34th most populous in the world. The Greater Los Angeles and San Francisco Bay areas are the nation's second and fifth most populous urban regions respectively, with the former having more than 18.7 million residents and the latter having over 9.6 million. Sacramento is the state's capital, while Los Angeles is the most populous city in the state and the second most populous city in the country. San Francisco is the second most densely populated major city in the country. Los Angeles County is the country's most populous, while San Bernardino County is the largest county by area in the country. California borders Oregon to the north, Nevada and Arizona to the east, the Mexican state of Baja California to the south; and has a coastline along the Pacific Ocean to the west.

WWE

WWE

World Wrestling Entertainment, Inc., doing business as WWE, is an American professional wrestling promotion. A global integrated media and entertainment company, WWE has also branched out into other fields, including film, American football, and various other business ventures. The company is additionally involved in licensing its intellectual property to companies to produce video games and action figures.

Source: "National Record Mart", Wikipedia, Wikimedia Foundation, (2023, January 25th), https://en.wikipedia.org/wiki/National_Record_Mart.

Enjoying Wikiz?

Enjoying Wikiz?

Get our FREE extension now!

References
  1. ^ a b c d e f "National Record Mart". Funding Universe. Retrieved 25 October 2014.
  2. ^ Christman, Ed; Don Jeffrey (April 25, 1998). "Stores develop genre-specific outlets". Billboard. p. 83.
  3. ^ Haramis, Kelly; Todd Ritter (20 January 1995). "New name for revamped store". The Daily Collegian. Retrieved 25 October 2014.
  4. ^ Lindeman, Teresa (1 December 1998). "He built National Record Mart from small store into a music chain". Pittsburgh Post-Gazette. Retrieved 25 October 2014.
  5. ^ "NATIONAL RECORD MART TO EXPLORE STRATEGIC OPTIONS". The New York Times. 1 July 2000. Retrieved 25 October 2014.
  6. ^ Christman, Ed (6 October 2001). "Retail Track". Billboard. p. 67.
  7. ^ Lindeman, Teresa (25 January 2002). "The day the music dies: NRM workers bemoan loss of a company they loved and couldn't leave". Pittsburgh Post-Gazette. Retrieved 25 October 2014.

The content of this page is based on the Wikipedia article written by contributors..
The text is available under the Creative Commons Attribution-ShareAlike Licence & the media files are available under their respective licenses; additional terms may apply.
By using this site, you agree to the Terms of Use & Privacy Policy.
Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization & is not affiliated to WikiZ.com.