Westlake Village, CA-based Guitar Center (Nasdaq: GTRC) posted a 28.1% increase in direct response net sales, including revenue from the Medford, OR-based Musician’s Friend catalog. For the second quarter ended June 30, Guitar Center’s sales were $110.6 million, up from $86.3 million in the previous second quarter.
Consolidated net sales for the musical instruments and accessories merchant increased 13.3% to $518.9 million, while net income fell to $9.6 from $13.4 million.
“While consolidated net sales for the second quarter were below our expectations, we achieved adjusted net income in line with our guidance,” executive vice president/chief financial officer Erick Mason said in a statement. “The performance of our direct response division also reflects what we believe are macroeconomic trends, as well as the transition to the new fulfillment center.”