Department Stores

Five Below Corporate Office

Five Below was founded in 2002 by David Schlessinger and current CEO Tom Vellios. The first store was located in Wayne, Pennsylvania. Similar to the dollar store model, all Five Below stores carry items that are $5 or less.

Besides selling $5 and under items, the company also offers a unique fundraising opportunity for non-profits. Groups can promote a special sale window for their cause and 10% of all sales are donated back to them.

After a rapid burst of growth, the company went public in 2012 on the NASDAQ under the ticker symbol FIVE.

Today, Five Below has 1,400 stores in 43 US states. Most stores are located in the Northeast and Midwest.

In December 2023, the company began offering a 4-foot Christmas tree dubbed The Charlie Brown Tree. It was an instant sell-out.

Also in December 2023, the company beat its own estimated third-quarter profit level and revised its expectations upward.

Five Below maintains a corporate office in Philadelphia, Pennsylvania.

Five Below

History

After a rapid burst of growth, the company went public in 2012 on the NASDAQ under the ticker symbol FIVE.

Today, Five Below has 1,400 stores in 43 US states. Most stores are located in the Northeast and Midwest.

In December 2023, the company began offering a 4-foot Christmas tree dubbed The Charlie Brown Tree. It was an instant sell-out.

Also in December 2023, the company beat its own estimated third-quarter profit level and revised its expectations upward.

Five Below maintains a corporate office in Philadelphia, Pennsylvania.

Dillards Corporate Office

Dillards was founded in 1938 by William T. Dillard in Nashville, Arkansas.

In 1956, Dilliard led a group of investors that purchased a department store in Tyler, Texas. The store became Dillard’s Mayer & Schmidt.

In 1960, a failing store was acquired in Tulsa, Oklahoma.

In 1969, the company went public as Dillard Department Stores, Inc.

The chain expanded rapidly in the 1970s mainly through locations in shopping malls. In 1971, 5 Fedway stores were acquired.

The chain continued to expand through acquisitions in the 80s and 90s including Joske’s, Cain-Sloan and Higbee’s.

Today, Dilliard’s is a mid to upscale department store chain with over 300 locations in 29 US states.

Dillard's

Dillards was founded in 1938 by William T. Dillard in Nashville, Arkansas.

In 1956, Dilliard led a group of investors that purchased a department store in Tyler, Texas. The store became Dillard’s Mayer & Schmidt.

In 1960, a failing store was acquired in Tulsa, Oklahoma.

History

In 1969, the company went public as Dillard Department Stores, Inc.

The chain expanded rapidly in the 1970s mainly through locations in shopping malls. In 1971, 5 Fedway stores were acquired.

The chain continued to expand through acquisitions in the 80s and 90s including Joske’s, Cain-Sloan and Higbee’s.

Today, Dilliard’s is a mid to upscale department store chain with over 300 locations in 29 US states.

JCPenney Corporate Office

JCPenney, also called JCP or Penneys, was founded by James Cash Penney in 1902 as the Golden Rule Store. Penney bought out his 2 partners in 1907 and began calling the stores J.C. Penny in 1913. There were 35 stores at this time.

By 1917, there were 175 stores in 22 states. In 1924, the 500th store was opened. The 1000th store opened in 1928.

By 1941, JCPenney was operating in all lower 48 states. They were over 1600 stores.

In 1956, the chain began advertising nationwide in Life magazine. In 1959, the JCPenney credit card was launched.

In 1963, the JCPenney catalog was launched. The catalog portion of the business was not profitable until 1971.

In 1971, founder James Penney died.

In 1993, JCPenney became the largest catalog retailer in the US. In 2011, they closed their catalog business.

In January 2016, JCPenney announced plans to relaunch its business of selling major appliances for kitchens and laundry rooms. The company moved away from selling major appliances in 1983, but it now planned to return to this business in an effort to target a wave of millennials who are buying first-time homes or apartments and need basic appliances.

In February of 2017, JCPenney announced that it would close down two distribution centers and up to 140 underperforming stores as it wrestles with disappointing sales. The company also planned to offer buyouts for roughly 6,000 employees.

At the end of 2017, JCPenney’s rating with the Better Business Bureau (BBB) is a disappointing 1.08 out of 5 stars based on customer reviews and a BBB Rating of F. The company’s ConsumerAffairs.com rating is 1 out of 5 stars based on 259 reviews submitted in the past 12 months. Most of the low ratings are attributed to poor customer service.

Forbes has also said in an article dated May 2018 that although Penny’s has great plans for the future, their stock is down 10% due to lack of confidence. Penny’s ranked a poor 33 out of a possible 100 rating for “Financial Health” from RapidRatings, indicating that the company might be in serious financial straits.

At its peak, the company operated over 2,000 department stores in all 50 states and Puerto Rico. Today, the company has approximately 850 locations, as of 2017, in 49 states. In 2016, the company had annual revenue of$12.547 billion.

In May 2020, JCPenny announced that it would close some stores as it filed for Chapter 11 bankruptcy.

In November 2020, JCPenney vacated its large corporate office building, but has not disclosed where a new corporate office would be located.

In December 2020, the company announced that it would close an addtional 165 locations in January of 2021.

Company headquarters were located in Plano, Texas. As of January 2021, the new corporate office address is unknown.

JCPenney

By 1917, there were 175 stores in 22 states. In 1924, the 500th store was opened. The 1000th store opened in 1928.

History

By 1941, JCPenney was operating in all lower 48 states. They were over 1600 stores.

In 1956, the chain began advertising nationwide in Life magazine. In 1959, the JCPenney credit card was launched.

In 1963, the JCPenney catalog was launched. The catalog portion of the business was not profitable until 1971.

In 1971, founder James Penney died.

In 1993, JCPenney became the largest catalog retailer in the US. In 2011, they closed their catalog business.

In May 2020, JCPenny announced that it would close some stores as it filed for Chapter 11 bankruptcy.

In November 2020, JCPenney vacated its large corporate office building, but has not disclosed where a new corporate office would be located.

In December 2020, the company announced that it would close an addtional 165 locations in January of 2021.

Company headquarters were located in Plano, Texas. As of January 2021, the new corporate office address is unknown.

WalMart Corporate Office

Wal-Mart Stores Inc., usually just called WalMart, was founded by Sam Walton in 1962. Walton purchased one if the Ben Franklin stores in 1945. His focus was on the profit margin. Walton believed that selling products at a lower selling price, but in high volume sales, would make both customer and himself happy with the deal.

Walton was on to something, as sales increased 45% during his first year in business with his Ben Franklin store. When his 5-year lease with the company expired, he was unable to reach a new agreement. Walton opened his own store on Main Street in Bentonville, calling it Waltons Five and Dime. The original store is now a Walmart museum.

In 1962, Walton opened his second location on Walnut Street in Rogers, Arkansas.

By 1967, the chain had 24 locations across Arkansas. In 1968, stores were opened in Missouri and Oklahoma.

In 1970, the Walmart corporate office and distribution center was opened in Bentonville, AR. The company also went public the same year, trading stock on the NYSE under the ticker symbol: WMT.

There were 1200 Walmart stores by the company’s 25th anniversary in 1987.

In 1988, Sam Walton stepped down as CEO and was replaced by David Glass. In 2000, H. Lee Scott took over as President and CEO.

By 2005, there were 6200 stores worldwide.

Walmart currently operates nearly 12,000 stores under 55 different names in 15 countries and is the largest retailer in the world. Why Walmart? Walmart’s own customers cite low prices as the most important reason for shopping there. The average American Walmart customer’s income is below the national average, and analysts estimated that more than one-fifth of them lack a bank account, which is twice the national rate. Walmart is often conveniently located near bus stations or close to residential neighborhoods.

Annual revenue for 2016 was $485.87 billion. The company has more than 1.4 million employees in the US alone, with an estimated 2.3 million employees worldwide. Walmart U.S. is the company’s largest division, making up 62.3 percent of all sales.

In early 2016, the company announced that it would close 269 locations, most of them in the US. Most of the closures occur where there is another Walmart location within 10 miles. At the same time, the company announced it had plans to open 60 Supercenters, 95 Neighborhood Markets, 10 new Sam’s Club stores, and approximately 240 international locations in 2017.

The company acquired Jet.Com, an eCommerce site, in August of 2016 for $3.3 billion.

In January of 2017, just one day after stating the company would increase the starting wage of regular employees, the company stated that they were removing about 3,500 store co-managers, a salaried role that acts as a lieutenant underneath each store manager, according to people familiar with the move. It’s also adding about 1,700 assistant store managers, a slightly lower-paid role, who will oversee fast-growing areas like online orders. This means a pay cut for many former co-managers.

The company also abruptly closed about 63 underperforming Sam’s Club locations, without telling their employees, many of whom showed up for work, only to find the doors locked.

In May 2019, the company announced that it would raise prices on nearly every item in the store if Trump’s tariff’s against China went into effect June 1st, 2019.

That same month, Walmart executives also announced that they would be removing tobacco products from some locations and raising the minimum age to purchase tobacco to 21.

In mid-March 2020, Walmart stated that they were going to stop their 24-hour service and begin closing most stores between 10PM and 7AM due to the coronavirus crisis.

A company spokesperson said this was a necessary step in order to allow employees to stock shelves and disinfect stores. The change in hours is also being announced by other retail locations, such as Hy-Vee, Randalls, HEB, and Kroger grocery stores.

Also in March 2020, Walmart stated that they would allow their locations and parking lots to be used for drive-through testing for the CORVID-19 virus. Other locations which also agreed to provide these services include Walgreens, Target, and CVS.

On July 20, 2020, Walmart announced that all customers would be required to wear face masks at all locations. This move is designed to protect customers from the COVID-19 virus.

In July 2021, the Walmart corporate office stated that the company would pay college tuition and books for their workers at certain schools.

In June 2022, Walmart announced that it would pull My Pillow products from all Walmart locations.

Walmart’s corporate office is located in Bentonville, Arkansas.

WalMart

History

In 1962, Walton opened his second location on Walnut Street in Rogers, Arkansas.

By 1967, the chain had 24 locations across Arkansas. In 1968, stores were opened in Missouri and Oklahoma.

In 1970, the Walmart corporate office and distribution center was opened in Bentonville, AR. The company also went public the same year, trading stock on the NYSE under the ticker symbol: WMT.

There were 1200 Walmart stores by the company’s 25th anniversary in 1987.

In 1988, Sam Walton stepped down as CEO and was replaced by David Glass. In 2000, H. Lee Scott took over as President and CEO.

By 2005, there were 6200 stores worldwide.

The company acquired Jet.Com, an eCommerce site, in August of 2016 for $3.3 billion.

The company also abruptly closed about 63 underperforming Sam’s Club locations, without telling their employees, many of whom showed up for work, only to find the doors locked.

In May 2019, the company announced that it would raise prices on nearly every item in the store if Trump’s tariff’s against China went into effect June 1st, 2019.

That same month, Walmart executives also announced that they would be removing tobacco products from some locations and raising the minimum age to purchase tobacco to 21.

In mid-March 2020, Walmart stated that they were going to stop their 24-hour service and begin closing most stores between 10PM and 7AM due to the coronavirus crisis.

On July 20, 2020, Walmart announced that all customers would be required to wear face masks at all locations. This move is designed to protect customers from the COVID-19 virus.

In July 2021, the Walmart corporate office stated that the company would pay college tuition and books for their workers at certain schools.

In June 2022, Walmart announced that it would pull My Pillow products from all Walmart locations.

Walmart’s corporate office is located in Bentonville, Arkansas.

Sears Corporate Office

Sears Roebuck and Company, or Sears for short, was founded in 1820 in New York City by Richard Sears and Alvah Roebuck.

The company began as a mail-order business with their first catalog in 1888. By 1894, the catalog was over 300 pages and reached over 500 pages the following year. In 1933, the company published its first Christmas catalog, which later came to be known as the Wish Book. In 1940, the catalog included almost everything a consumer could buy, even ready to assemble houses from kits.

In 1925, the first retail location was opened in Chicago, Illinois.

The company built many stand-alone stores from 1925 into the 1950s. Their strategy then changed during the 60s and 70s from independent stores to building stores inside shopping malls.

In 2005, Sears was purchased by Kmart and the Sears Holding Group was formed.

Formerly the #1 retailer in the US, as of 2017, Sears is now the 23rd largest retailer in the United States overall. In 2016, the company had annual revenue of $13.8 billion.

In 1974, the company completed the 110-story Sears Tower in Chicago, which became the world’s tallest building at the time. Sears moved to the new Prairie Stone Business Park in Hoffman Estates, Illinois.

In late 2016 and early 2017, some significant steps were taken by CEO Edward Lampert in an attempt to make the company solvent. Lampert sold the Craftsman brand to Stanley Black & Decker for approximately $900 million. During this same period, the company announced that it would close 150 stores (109 Kmart and 41 Sears outlets), in an attempt to cut its losses after a decline in sales of 12 to 13 percent during the holiday shopping season and the largest quarterly loss since 2013.

In October of 2017, Sears and Whirlpool ended their 101-year agreement which allowed Sears and Kmart stores to sell Whirlpool appliances. The companies were unable to come to an agreement on pricing issues.

The company currently operates over 2200 stores in the US and employs more than 89,000 persons. The Sears corporate office is located in Hoffman Estates, Illinois.

In June 2018, Sears announced that they would be closing 48 Sears locations and 15 Kmart stores. The company hoped that this would help them be able to repay their multi-million dollar debt.

In December 2020, online site Best Life listed Sears as the #1 company when it came to the worst in customer service.

The company continues to suffer from poor sales and a shattered reputation. In November 2021, the last Sears location in the state of Illinois closed its doors and the only location in Hawaii also shut down.

Sears

Sears Roebuck and Company, or Sears for short, was founded in 1820 in New York City by Richard Sears and Alvah Roebuck.

History

In 1925, the first retail location was opened in Chicago, Illinois.

The company built many stand-alone stores from 1925 into the 1950s. Their strategy then changed during the 60s and 70s from independent stores to building stores inside shopping malls.

In 2005, Sears was purchased by Kmart and the Sears Holding Group was formed.

Formerly the #1 retailer in the US, as of 2017, Sears is now the 23rd largest retailer in the United States overall. In 2016, the company had annual revenue of $13.8 billion.

The company currently operates over 2200 stores in the US and employs more than 89,000 persons. The Sears corporate office is located in Hoffman Estates, Illinois.

In June 2018, Sears announced that they would be closing 48 Sears locations and 15 Kmart stores. The company hoped that this would help them be able to repay their multi-million dollar debt.

In December 2020, online site Best Life listed Sears as the #1 company when it came to the worst in customer service.