Department Stores

Kmart Corporate Office

Kmart was founded by Sebastian S. Kresge when he invested in to five-and-dime stores that became the first S.S. Kresge stores in 1897.

By 1912 S.S. Kresge had 85 stores, by 1924, 257 stores, and by 1929, 597 stores.

The company first went public in 1918, trading on the New York Stock Exchange.

S.S. Kresge opened the first Kmart store on March 1, 1962. Eighteen more stores were opened that year.

In 1977 S.S. Kresge changed its name to Kmart Corporation.

Until 1990, when it was passed by Walmart, Kmart was the second-biggest retailer after Sears.

In 2002 the company filed for bankruptcy, emerging from bankruptcy protection as Kmart Holdings Corporation.

In 2004 the company bought Sears, changing its name to Sears Holding Corporation.

As of 2022, there are only 12 Kmart stores left in the US, with the majority being located in the US Virgin Islands.

Kmart

Kmart was founded by Sebastian S. Kresge when he invested in to five-and-dime stores that became the first S.S. Kresge stores in 1897.

By 1912 S.S. Kresge had 85 stores, by 1924, 257 stores, and by 1929, 597 stores.

The company first went public in 1918, trading on the New York Stock Exchange.

History

S.S. Kresge opened the first Kmart store on March 1, 1962. Eighteen more stores were opened that year.

In 1977 S.S. Kresge changed its name to Kmart Corporation.

Until 1990, when it was passed by Walmart, Kmart was the second-biggest retailer after Sears.

In 2002 the company filed for bankruptcy, emerging from bankruptcy protection as Kmart Holdings Corporation.

In 2004 the company bought Sears, changing its name to Sears Holding Corporation.

As of 2022, there are only 12 Kmart stores left in the US, with the majority being located in the US Virgin Islands.

Shopko was founded in 1962 by James Ruben, a pharmacist, in Green Bay, Wisconsin. His vision was of a larger retail store with health care services combined with retail operations. As a result, Shopko became one of the first brands to offer services such as eye care centers and pharmacies inside the stores.

Shopko also operates walk-in clinics in their stores in partnership with local hospitals.

The company was public from 1991 to 2005, when it was bought by an affiliate of Sun Capital Partners and was taken private.

Today Shopko operates more than 330 stores, including 135 Shopko discount stores and 175 Shopko Hometown shops (formerly Pamida stores) in 20 states across the Midwest, Mountain, and Pacific Northwest.

Shopko has 16,000 employees, had $3 billion in revenue in 2013, and is #167 on the Forbes list of America’s Largest Private Companies.

Shopko

Shopko also operates walk-in clinics in their stores in partnership with local hospitals.

The company was public from 1991 to 2005, when it was bought by an affiliate of Sun Capital Partners and was taken private.

History

Shopko has 16,000 employees, had $3 billion in revenue in 2013, and is #167 on the Forbes list of America’s Largest Private Companies.

The Children’s Place Corporate Office

The Children’s Place was founded by Harvard business school graduates David Pulver and Clinton Clark when they opened their first store in 1965 in Hartford, Connecticut. The store lost money for three years before the two founders had adjusted the product mix and their finances began to turn around.

By 1981 the chain had 65 stores and enjoyed a corner on the niche market of a children’s only department store.

The company was sold to Federated Department Stores in 1982. Under new management, the chain continued to grow and in 1988 The Children’s Place had 161 stores. However, the chain was losing money and was sold to an investor group led by the Dabah family.

In the 1990s the company was restructured to handle its debt. The Children’s Place went public in 1997, raising $50 million to pay off its debts.

In March 2018, Forbes wrote an article stating that, unlike Toys R Us, the company is doing well and meeting or exceeding financial expectations.

The Children’s Place stated that they expected much lower earning for the second quarter of 2020 due to the coronavirus.

In late October 2020, the company secured an $80 million term loan agreement.

Today The Children’s Place has 965 stores in the United States and a further 130 in Canada. The company has over 4,000 employees and had $1.938 billion in revenue in 2018.

The Children's Place

History

By 1981 the chain had 65 stores and enjoyed a corner on the niche market of a children’s only department store.

In the 1990s the company was restructured to handle its debt. The Children’s Place went public in 1997, raising $50 million to pay off its debts.

In March 2018, Forbes wrote an article stating that, unlike Toys R Us, the company is doing well and meeting or exceeding financial expectations.

The Children’s Place stated that they expected much lower earning for the second quarter of 2020 due to the coronavirus.

In late October 2020, the company secured an $80 million term loan agreement.

Today The Children’s Place has 965 stores in the United States and a further 130 in Canada. The company has over 4,000 employees and had $1.938 billion in revenue in 2018.

Saks Fifth Avenue Corporate Office

Andrew Saks founded Saks & Company in New York in 1867. The company was incorporated in 1902.

In 1923 Saks & Co. merged with Gimbel Brothers, Inc. In 1924 Horace Saks and Bernard Gimbel opened Saks Fifth Avenue in New York City.

When Bernard’s brother, Adam Gimbel, took over the company in 1926 the company began to expand nationally.

In 1973 Saks was acquired by BATUS Inc. Saks was sold again in 1990, this time to Investcorp S.A. Investcorp took the company public in 1996.

In August of 2007, the United States Post Office began an experimental program selling the plus zip code extension to businesses. The first company to do so was Saks Fifth Avenue, which received the zip code of 10022-7463 (“SHOE”) for their eighth-floor shoe department in its flagship Fifth Avenue, New York, location.

In 2013 the Hudson Bay Company (owners of competitor Lord & Taylor) announced it would acquire Saks Fifth Avenue’s parent company for $2.9 billion. The new owners are planning to expand Saks Fifth Avenue into Canada and in 2016, opened their first store in Toronto, with a second location opening in Calgary, Alberta, in February of 2018.

In 2015, the company began a 3-year, $250 million restoration plan for their flagship Fifth Avenue location. Completion is expected by the end of 2018.

In August 2023, Neiman Marcus was in talks with Saks about a possible merger.

Saks 5th Avenue maintains a corporate office in New York, New York.

Saks Fifth Avenue

Andrew Saks founded Saks & Company in New York in 1867. The company was incorporated in 1902.

In 1923 Saks & Co. merged with Gimbel Brothers, Inc. In 1924 Horace Saks and Bernard Gimbel opened Saks Fifth Avenue in New York City.

History

When Bernard’s brother, Adam Gimbel, took over the company in 1926 the company began to expand nationally.

In 1973 Saks was acquired by BATUS Inc. Saks was sold again in 1990, this time to Investcorp S.A. Investcorp took the company public in 1996.

In 2015, the company began a 3-year, $250 million restoration plan for their flagship Fifth Avenue location. Completion is expected by the end of 2018.

In August 2023, Neiman Marcus was in talks with Saks about a possible merger.

Saks 5th Avenue maintains a corporate office in New York, New York.

Nordstrom Corporate Office

John W. Nordstrom was a Swedish emigrant who arrived in the United States in 1887. He struck gold while prospecting and used this money to open a shoe store, Wallin & Nordstrom with co-founder Carl F. Wallin in 1901.

When the company opened its second store in 1923 Nordstrom’s son, Elmer J. Nordstrom, was put in charge of it. Elmer’s brother Everett, joined the business in 1928 when he and Elmer bought the co-founders shares when they reached retirement. A third brother, Lloyd, joined the business in 1933. The three brothers ran the business together for 40 years.

In 1958 Nordstrom’s had eight shoe stores.

In 1971 the company went public, trading on the NASDAQ. The shares were changed to the NYSE in 1999.

From 1978 to 1995 Nordstrom opened 46 full-line department stores.

Today Nordstrom, Inc. is an upscale fashion retailer that has 252 stores in 34 states, 52,000 employees, and had $8.7 billion in revenue in 2012.

Nordstrom, Inc.

In 1958 Nordstrom’s had eight shoe stores.

History

In 1971 the company went public, trading on the NASDAQ. The shares were changed to the NYSE in 1999.

From 1978 to 1995 Nordstrom opened 46 full-line department stores.

Today Nordstrom, Inc. is an upscale fashion retailer that has 252 stores in 34 states, 52,000 employees, and had $8.7 billion in revenue in 2012.