Stuarts (store)

Last updated
Stuarts Department Stores, Inc.
Company type Discount store
STUS: NASDAQ
Industry Retail
Founded1957
Defunct1995
Fate Chapter 11 Bankruptcy
Headquarters New York City, New York
ProductsClothing, footwear, bedding, furniture, jewelry, beauty products, electronics, and housewares.
WebsiteNone

Stuarts Department Stores Inc. was a company founded in New England in 1957. It incorporated as a Delaware corporation in 1983, around which time the regional clothing and houseware retailer had stores in every state in New England with a primary focus on Massachusetts. Its stock once traded for close to $30 a share.

Contents

History

Through the 1980s and 1990s the store went through a variety of major changes. First the chain tried to shed its image as a reseller of leftover department store merchandise by investing in their own label. They also invested a major amount of capital into a cosmetic overhaul of their real estate that introduced a more "Bradlees"-like color scheme. They rapidly expanded to 26 outlets, including the purchase of Harry's of Barre, Vermont. A major distribution and office complex was also built in Franklin, Massachusetts.

During all of this change there was instability in corporate management. The chaos this caused resulted in a missed opportunity for this small retailer. They never modernized their sales/inventory tracking systems at the store level. While other chains like Rich's were already using barcode scanners, computerized shipping manifests, and automated sales result reports, Stuarts was still doing it by hand. By the early 1990s shares struggled to maintain $1 per share.

The company filed for Chapter 11 protection in December 1990, emerged from the Chapter 11 case in October 1992 and re-filed for protection under Chapter 11 in May 1995, shortly thereafter it went out of business.

Presidents/CEOs

Related Research Articles

Mervyn's was an American middle-scale department store chain based in Hayward, California, and founded by Mervin G. Morris (1920–2021). It carried national brands of clothing, footwear, bedding, bath products, furniture, jewelry, beauty products, electronics, toys, and housewares. Many of the company's stores were opened in shopping malls; however, some locations were operated independently. Based on 2005 revenue, Mervyn's was the 83rd largest retailer in the United States.

<span class="mw-page-title-main">A&P</span> Defunct American grocery store chain

The Great Atlantic & Pacific Tea Company, better known as A&P, was an American chain of grocery stores that operated from 1859 to 2015. From 1915 through 1975, A&P was the largest grocery retailer in the United States.

<span class="mw-page-title-main">Eastern Mountain Sports</span> Outdoor clothing and equipment retailer

Eastern Mountain Sports is an outdoor clothing and equipment retailer in the Northeastern United States headquartered in Meriden, Connecticut.

Venture Stores, Inc. was a chain of retail stores aimed at the discount department-store market. John Geisse, formerly of Target Stores, and May Department Stores' executive vice president, Dave Babcock, founded the chain in 1968. Venture Stores expanded to operate over 70 stores with major market share in St. Louis, Chicago, and Kansas City, and expanded across various areas in the United States over a period of nearly 30 years, becoming the largest discount chain in Chicago. In January 1998, Venture Stores entered a Chapter 11 bankruptcy and closed within six months.

<span class="mw-page-title-main">Caldor</span> Defunct chain of US discount department stores

Caldor, Inc. was a discount department store chain founded in 1951 by husband and wife Carl and Dorothy Bennett. Referred to by many as "the Bloomingdale's of discounting," Caldor grew from a second story "Walk-Up-&-Save" operation in Port Chester, New York, into a regional retailing giant. Its stores were earning over $1 billion in sales by the time Carl Bennett retired in 1985, by which time Caldor was a subsidiary of Associated Dry Goods.

Bradlees Department Store, more commonly known as Bradlees, was a discount department store chain based in Braintree, Massachusetts, which operated primarily in the Northeastern United States. Bradlees sold various retail items in its stores, including clothing, jewelry, health care, beauty products, footwear, furniture, electronics, housewares, and bedding. At its peak in the 1990s, Bradlees operated over 105 stores in seven states across the Northeast, with close to 10,000 employees. Along with being a part of Stop & Shop from 1961 until 1992, the chain went through Chapter 7 bankruptcy in 2000, with all of its stores eventually closed by March 15, 2001.

<span class="mw-page-title-main">Building 19</span> Defunct Massachusetts discount store chain

Building #19 was a New England chain of discount closeout retailers that operated from 1964 until it declared bankruptcy in 2013. At the time of its bankruptcy, it had thirteen stores. The family that owned the chain later reopened two of the former locations as a part of a new business, The Rug Department, that was limited to rugs and related merchandise. However, these locations in Norwood and Burlington closed in 2014.

<span class="mw-page-title-main">ShopRite</span> American supermarket chain

ShopRite is an American retailers' cooperative of supermarkets with stores in six states: Connecticut, Delaware, Maryland, New Jersey, New York and Pennsylvania.

<span class="mw-page-title-main">Zayre</span> Defunct discount retailer in the United States

Zayre was a chain of discount stores that operated in the eastern half of the United States from 1956 to 1990. The company's headquarters were in Framingham, Massachusetts. In October 1988, Zayre's parent company, Zayre Corp., sold the stores to the competing Ames Department Stores, Inc. chain. In June 1989, Zayre Corp. merged with one of its subsidiaries, The TJX Companies, parent company of T.J. Maxx, which still exists today. A number of stores retained the Zayre name until 1990, by which time all stores were either closed or converted into Ames stores.

<span class="mw-page-title-main">H. C. Prange Co.</span> American department store chain

H. C. Prange Co., sometimes shortened to Prange's, was an American department store chain begun by H. C. Prange in 1887 in Sheboygan, Wisconsin. At its peak, it operated stores in the states of Wisconsin, Illinois, and Michigan. It also operated discount stores under the Prange Way name in the former two states, although this division was sold off in the 1990s. Prange's was dissolved and most of the stores converted to the rival Younkers chain after sale in 1992.

Ernst Home Centers, Inc. was a chain of home improvement retail stores founded in Seattle, Washington, United States. Ernst was started in 1893 by Seattle brothers Charles and Fred Ernst. In 1960, it became a division of Pay 'n Save, one of the largest retail companies in the Northwest. After a 1984 takeover of Pay 'n Save, Ernst was sold off and went public in 1994. Following several highly publicized lawsuits and a failed attempt to open larger stores, the company filed for Chapter 11 bankruptcy in 1996 and liquidated in early 1997. At the company's peak, it operated 95 stores in 12 western U.S. states.

<span class="mw-page-title-main">David's Bridal</span> Bridal retailer

David's Bridal is a clothier in the United States that specializes in wedding dresses, bridesmaid dresses, prom and homecoming dresses, quinceañera dresses, flower girl dresses, other formal wear, and alterations. It is the largest American bridal-store chain and sells 25-30% of all wedding dresses purchased in the United States.

K·B Toys was an American chain of mall-based retail toy stores. The company was founded in 1922 as Kaufman Brothers, a wholesale candy store. The company opened a wholesale toy store in 1946, and ended its candy wholesales two years later to emphasize its toy products. Retail sales began during the 1970s, using the name Kay-Bee Toy & Hobby.

<span class="mw-page-title-main">Brookstone</span> Chain of retail stores

Brookstone is a chain of retail stores in the United States and China. It was founded as a mail-order business in 1965, when it started selling items, such as dental clamps and other specialty tools. Its first physical location opened in 1973 in Peterborough, New Hampshire. The company's headquarters are currently located in Merrimack, New Hampshire.

Loehmann's was an American retail company which started as a single store in Brooklyn, New York and grew to a chain of off-price department stores in the United States. The chain was best known for its "Back Room", where women interested in fashion could find designer clothes at prices lower than in department stores. While the largest portion of its client base was historically women, the chain also offered shoes, accessories, and men's clothing.

Filene's Basement, also called The Basement, was a Massachusetts-based chain of department stores which was owned by Retail Ventures, Inc. until April 2009 when it was sold to Syms.

<span class="mw-page-title-main">Christmas Tree Shops</span> American chain of specialty retail stores

Christmas Tree Shops was an American chain of big-box specialty retail stores, headquartered in Middleborough, Massachusetts. At its peak, the chain operated 72 stores in 20 U.S. states, primarily in the Northeast. The company filed for bankruptcy in 2023 and closed all of its stores by August 12, 2023, officially ending its 53-year legacy.

<span class="mw-page-title-main">Bob's Stores</span> American retail store chain

Bob's Stores is a chain of retail stores in the northeastern United States owned by GoDigital Media Group. Founded as Bob's Surplus in Middletown, Connecticut, by Robert "Bob" Lapidus in 1954, the chain expanded gradually until it was acquired by Melville Corporation and has been reacquired five more times since then. The chain targets moderate-income customers with a selection of footwear, workwear, teamwear, and activewear.

Sears Holdings Corporation was an American holding company headquartered in Hoffman Estates, Illinois. It was the parent company of the chain stores Kmart and Sears and was founded after the former purchased the latter in 2005. It was the 20th-largest retailing company in the United States in 2015. It filed for Chapter 11 bankruptcy on October 15, 2018, and sold its assets to ESL Investments in 2019. The new owner moved Sears assets to its newly formed subsidiary Transformco and after that, Sears Holdings Corporation was closed.

References

  1. "PR newswire, Sept.12, 1989