FYE (retailer)

File:fye store tower city center cleveland.JPG, Cleveland, Ohio]]

The first FYE store opened in 1993 at the Trumbull Mall in Trumbull, Connecticut.{{cite news |last=Landis |first=David |date=November 11, 1993 |title=A mass-market push for interactive CD-ROM |url= |access-date= |newspaper=USA Today |department=Life |page=D1 |issn=07347456 |id={{NewsBank text|0EB771DFCA685850}}. {{ProQuest|408634384}} (eLibrary accession number 02727537), {{ProQuest|306632601}}.}} {{cite magazine| last=Fitzpatrick| first=Eileen| date=July 5, 1997| magazine=Billboard| volume=109| issue=27| title=Trans World at 25| pages=68, 75, 76| url=https://books.google.com/books?id=iQ4EAAAAMBAJ&q=%22f.y.e.%22+%22trumbull+mall%22&pg=PA75}} A second opened in 1995 at Eastview Mall in Victor, New York, and a third at Colonie Center in Colonie, New York in 1997.{{cite news| url=http://www.bizjournals.com/albany/stories/1997/05/19/story2.html| first=Deborah| last=Moore| title=New FYE store eyes Colonie site| date=May 19, 1997| newspaper=Albany Business Review | access-date=March 5, 2022}}

In 2001, Trans World unified its other mall-based stores under the "f.y.e." name after buying out Camelot Music. During that year, a major re-branding campaign made f.y.e. the brand name for all of Trans World Entertainment's mall-based retail stores as well as many freestanding locations, though some freestanding or strip mall stores continued to operate under regional brands like Planet Music. In 2016 the company changed the store and website branding to "FYE".

In 2006, Trans World began remodeling buildings that were former Coconut stores and Media Play outlets near Salt Lake City, Utah and Buffalo, New York into FYE superstores. In 2009 FYE closed over 100 locations{{cite news |url= http://blog.timesunion.com/business/trans-world-to-close-125-f-y-e-stores/16069/| title=Trans World to close 125 FYE stores| last=Churchill| first=Chris| date=November 12, 2009| newspaper=Albany Times Union| access-date= January 14, 2011}} and 52 more in 2012.

Trans World opened new FYE concept stores in multiple locations (such as the Rockaway Townsquare in Rockaway, New Jersey) in 2016. The new FYE featured a new logo and look, a larger focus on pop-culture related items, an expanded selection of vinyl records and modern turntables, while the selection of Blu-rays, DVDs and CDs has been reduced.

In March 2017, FYE founder and CEO Bob Higgins died. Higgins was responsible for the creating the FYE brand as well as maintaining its profitability and therefore its status as the last remaining music chain store.{{cite magazine| url=https://www.billboard.com/articles/news/7710038/bob-higgins-trans-world-fye-dead-at-75| title=Bob Higgins, Pioneering Founder of Trans World and FYE, Dead at 75| first=Ed| last=Christman| date=March 2, 2017| magazine=Billboard| access-date=January 15, 2019}}

In November 2018, FYE's parent company was accused in federal court of deceiving customers by asking them to sign up for "free" and/or "loyalty" membership programs and magazine subscriptions while charging their credit and debit cards $11.99 per month until customers cancelled the services. Another allegation was that customer information was shared with marketing company Synapse without customer consent.{{cite web |url=https://www.law360.com/articles/1102004/fye-must-face-the-music-for-bogus-free-offers-suit-says |title=FYE Must Face The Music For Bogus 'Free' Offers, Suit Says |first=Shayna |last=Posses| website=Law360.com |access-date=January 15, 2019| url-access=registration}}{{cite web| url=https://topclassactions.com/lawsuit-settlements/lawsuit-news/863930-fye-class-action-challenges-loyalty-program-and-magazine-subscription-charges/|title=FYE Class Action Challenges Loyalty Program and Magazine Subscription Charges| first=Brigette| last=Honaker| date=November 19, 2018| website=TopClassActions.com| access-date= January 15, 2019}}

In 2018, 33 FYE stores were closed, and 35 more were scheduled to be closed before the end of Trans World's fiscal year on February 2, 2019.{{cite news |url=https://www.bizjournals.com/albany/news/2018/11/02/trans-world-gets-ok-from-creditor-to-close-more.html |title=Trans World gets OK from creditor to close more FYE stores |first=Michael |last=DeMasi |newspaper=Albany Business Review |date=November 2, 2018 |access-date=April 11, 2019}}

In the fiscal year ended February 1, 2020, FYE posted a loss of $50.7 million for the retail chain, more than double of the previous year.{{Cite web |last=Gruenwedel |first=Erik |date=June 16, 2020 |title=FYE Retail Stores Lost $50.7 Million in Fiscal Year |url=https://www.mediaplaynews.com/fye-retail-stores-lost-50-7-million-in-fiscal-year/ |access-date=August 14, 2023 |website=Media Play News |language=en-US}} Later the same year Sunrise Records announced and subsequently finalized their purchase of FYE from TWEC.{{cite news| url=https://exclaim.ca/music/article/sunrise_records_to_acquire_u_s_entertainment_chain_fye| title=Sunrise Records to Acquire U.S. Entertainment Chain FYE| last=Slingerland| first=Calum| date=January 23, 2020| website=Exclaim!| access-date=February 3, 2020}}{{cite news| url=https://www.bizjournals.com/albany/news/2020/02/18/trans-world-fye-sunrise-sale-approved.html| title=$10 million sale of the FYE retail chain approved| newspaper=Albany Business Journal| date=February 18, 2020 |access-date=March 4, 2020}}{{Cite web |last=Kennedy |first=Marlene |date=February 21, 2020 |title=Down to Business: Sunrise will keep FYE chain spinning |url=https://dailygazette.com/2020/02/21/down-to-business-sunrise-will-keep-fye-chain-spinning/ |access-date=August 14, 2023 |website=The Daily Gazette |language=en-US}}

Though the majority of chains acquired by parent company Trans World Entertainment were completely converted into FYE stores (many of which have since closed), a few chains have had a handful of stores kept open, though otherwise being stocked and operated the same as a traditional FYE except for the nameplate. These are:

• Coconuts Music & Movies: Evansville, Indiana (closed in 2025)
• Sam Goody: Medford, Oregon
• Suncoast Motion Picture Company: Jacksonville, North Carolina{{cite web| title=Suncoast| url=https://mallatfairfieldcommons.com/stores/tenant/suncoast| access-date=January 19, 2021| website=The Mall at Fairfield Commons}}  An FYE and a Suncoast Motion picture company combo store remains in Beavercreek, Ohio in The Mall at Fairfield Commons.

• Suncoast Motion Picture Company
• Sam Goody
• Camelot
• Spec's Music
• Musicland
• Media Play
• Sunrise Records
• HMV

{{reflist}}

• {{Official website|https://www.fye.com/}}

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Category:Music retailers of the United States

Category:American companies established in 1993

Category:Retail companies established in 1993

Category:2020 mergers and acquisitions

Category:Companies based in Albany, New York

Category:1993 establishments in Connecticut

Category:American subsidiaries of foreign companies