mccrory stores
with the headline: company news; 229 stores to be closed by mccrory .
mccrory stores to close affiliate headquarters ,
reuters, june 6, 1990 .
yesterday wall street analysts said that the sale of stores to mccrory would help both companies .
see also: anthony stores, harold' s stores, may brothers department stores, oklahoma economy, t. g. & y. stores
tinware salesman, who along with a partner, john mccrory, adopted the chain - store idea first used by frank w. woolworth. when kresge and mccrory dissolved their partnership, mccrory took over the stores in
mark mccrory and david thompson, appellants, v. wal mart stores, inc. , appellee .
tinware salesman, who along with a partner, john mccrory, adopted the chain - store idea first used by frank w. woolworth. when kresge and mccrory dissolved the partnership they had formed in 1897, mccrory took over the stores in
sebastian spering kresge and john mccrory form partnership to open five - and - dime stores in detroit and memphis .
s association with kmart begins; most u. s. kresge and jupiter stores are sold to mccrory corporation .
mccrory stores 100 year history in variety retailing ,
new york: the riklis family corp. , 1982 .
several factors contributed to the decline, deter said. mccrory' s stores filed for chapter 11 bankruptcy protection in 1992 and has closed more than 200 stores nationwide .
principal subsidiaries: e - ii holding corp. ; riklis holding corp. ; mccrory stores; rapid - american corp .
mccrory corp. converted all of its remaining variety stores to a dollar store format last year. it operates in 25 states under various trade names, including dollar zone, mccrory, mccrory dollar, tg & y, tg & y dollar, gc murphy and jj newberry .
mccrory died in 1923 having built mccrory stores corporation into a success. however, in 1933 the company declared bankruptcy and was dissolved, but it was eventually re - established as mccrory stores and resumed operations. one of the early investors was sebastian spering kresge, who later founded the s. s. kresge chain, which became kmart. in 1899, kresge traded his interest in the mccrory' s memphis, tennessee store for mccrory' s interest in the detroit, michigan, store, giving him control there. in 1987, the kmart corporation sold its remaining kresge and jupiter stores in the united states to mccrory stores. [ 1 ]
both the kresge and the mccrory stores grew to substantial proportions, reflecting the explosion of city populations. when americans began to move en masse to the suburbs after world war ii, kresge and mccrory stores were not far behind. name changed to save money
keywords oklahoma economic history tg & s variety store retail raymond a. young mccrory
in 1960, riklis acquired 38, and later 50 percent of the stock of united stores corporation, a subsidiary of h. l. green company, inc. , which had merged mccrory stores, mclellan stores, and h. l. green stores in 1959. the mccrory - mclellan - green (m - m - g) relationship resulted in approximately 850 stores with an estimated annual volume of more than $ 310 million. within 15 years, m - m - g, renamed mccrory stores (a subsidiary of mccrory corporation), would represent the keystone of riklis family corp' s variety store business .
the original
turtles, girdles and yoyos
operated 900 stores in 29 states until mccrory' s acquired the brand in 1986 .
mccrory sprang up after the missouri pacific railroad came through in 1886 - 87. cyrus g. mccrory had bought for $ 3, 500. 00 in confederate money the 400 acres of land where mccrory is now located and had moved his family here from tuckerman during the early part of the civil war. cyrus mccrory and his wife, mary hamilton mccrory, originally were from mason' s grove, tenn. their son, wade mccrory, married mollie atkinson, and their children were jordan c. mccrory, miss lou mccrory, mrs. della mccrory jeffries, mrs. mary mccrory jernigan, and grover g. mccrory, none of whom is now living. jordan c. mccrory was born in a double log house at the corner of main and fakes streets, feb 5, 1870, and when he was four months old the mccrory family moved away, first going to batesville for five years, then to waco, texas. by the time the family returned to mccrory in 1890, the railroad had come through, the town was started, and a group of 55 men had signed the incorporation petition on dec. 24, 1889, a petition granted by the county court on jan. 30, 1890 .
mccrory, which employs 17, 000 people, is controlled by the financier meshulam riklis. it operates 820 stores under the names mccrory, g. c. murphy, j. j. newberry and s. h. kress .
from
the mccrory family in mccrory
by vernon paysinger in rivers and roads and points in between, vol. xi, no. 1, pp. 2 - 12 :
the stores, which are in maryland, pennsylvania and connecticut, will be renamed mccrory, meaning that the kresge name will virtually disappear. only 10 kresge stores in the south and middle west will remain .
mccrory said that it planned to emerge from bankruptcy a
stronger and more valuable business .
while this is a mccrory stores group, if anyone out there has any information on mclellan stores (photos, memories, old ads, etc) please please let me know. while mccrory is a big chunk of my life, mclellan' s is more so! so let me know. thanks !
public documents show the financial ties of gov. mccrory' s cabinet | north carolina | indy week
after pat mccrory lost, the ncgop falsely accused hundreds of voter fraud. shouldn’t that be harder ?
in 1989, 1, 300 stores were operated by the mccrory company. however, as the decade turned, its fortunes decreased, and by 1992 it filed for bankruptcy. several rounds of store closures followed, with one of the biggest coming in 1997 when mccrory' s shuttered 300 of its last 460 stores. the company also converted some stores to their dollar zone format of dollar store, but these closed in early 2002. [ 4 ] in december 2001, mccrory stores announced the remaining mccrory' s, [ 4 ] tg & y, g. c. murphy and j. j. newberry stores it was operating would begin liquidating and in february 2002 the company ceased operation. [ 5 ]
at its height, mccrory' s operated 1, 300 stores under its own name and as tg & y, mclellan (merged in 1958), h. l. green, silvers, g. c. murphy, j. j. newberry and otasco, [ 2 ] which it had acquired through the years. mccrory' s parent rapid - american also owned lerner stores and national shirt (acquired by mccrory' s in 1960) .
joining a growing list of retailers, the mccrory corporation, one of the nation' s largest operators of dime stores, yesterday filed for chapter 11 bankruptcy protection from creditors .
the growth of malls and discount stores and the demise of downtown shopping centers took away the foot traffic that dime stores needed to survive. inflation took away the five - and - ten - cent prices. the variety stores left to others the concept of dollar stores, which prospered in free - standing, neighborhood locations, while downtown shopping and dime stores faded away. in 2001, dollar general had 2, 734 stores, and dollar tree had 1, 732 stores. these dollar stores could be considered the dime stores of the twenty - first century, adjusted by inflation to contemporary price levels .
asked about paypal’s decision at a news conference on tuesday, mr. mccrory said, “i respect disagreement. ”
yesterday, the kresge - mccrory saga came full circle. 76 domestic stores involved the k mart corporation, kresge' s current owner and the nation' s second - largest merchandise chain, said it would sell 76 of its domestic kresge and jupiter stores to the mccrory corporation, a company founded by mr. mccrory. k mart, which shifted its emphasis from the variety store to the k mart discount store in the 1960' s, said it was selling the kresge - jupiter outlets because they no longer fitted its corporate growth plans. the jupiter stores serve as discount outlets for the kresge stores .
the mccrory corporation, a big chain - store operator, said today that it planned to close 229 of its more than 1, 000 stores nationwide. the company, based in york, is owned by the financier meshulam riklis, and operates variety stores under the mccrory, j. j. newberry, mclellan and kress names, among others. the stores offer low - priced merchandise, mostly in inner - city locations .
energy companies and high - falutin' golf clubs, convenience stores and religious groups: these are some of the financial interests held by members of gov. pat mccrory' s cabinet .
opponents of the north carolina law said mr. mccrory’s hand had been forced by more conservative elements of his party .
kresge wanted to go into business with woolworth, but woolworth turned him down. instead, he joined mccrory, who had a chain of six
bazaar
stores and two five - and - ten cent stores. in 1897, kresge gave mccrory $ 8, 000 and became an equal partner in his business. they opened stores in memphis, tennessee, and detroit, michigan. two years later, kresge became sole manager of the detroit store and eventually paid mccrory $ 3, 000 to end their partnership and give up his share of the memphis store .
walter f. loeb, senior analyst for morgan stanley & company, said:'' with mccrory focusing on the variety store business, it seems a smart acquisition. mccrory recently revamped a distribution center and that, besides the new stores, will entrench it over competition as the top variety chain.''
the 1960s and 1970s were times of great expansion. in 1966, the year sebastian kresge died, s. s. kresge corporation owned 162 kmart stores, 753 kresge stores, 100 jupiter stores (kresge stores located in deteriorating business areas that were renamed
jupiter
), and 108 canadian stores. in 1977, because the kmart stores provided more than 90 percent of kresge sales, the company changed its name to the kmart corporation .
for the nine months ended oct. 31, mccrory lost $ 42. 3 million on sales of $ 961 million .
paypal had already joined more than 120 other business leaders in signing a letter to mr. mccrory objecting to the law .
other moves to improve mccrory business included streamlining and consolidating operations. in june 1990, the company' s bargain time inc. affiliate moved its main buying office to the mccrory headquarters in pennsylvania and closed its buying office in newark, new jersey .
woolworth closed its last dime store in 1997. by the early twentieth century, the mccrory corporation, under the ownership of meshulam riklis, owned many of the famous names but operated only 160 stores .
he was impressed by the way the new discount stores did business. frank w. woolworth (1852 - 1919) was the founder of the first
great 5 - cent store
and john mccrory (1860 - 1943) later established mccrory discount stores. at both businesses, customers had to pay cash for their purchases. according to kresge, this would make customers spend their money more wisely .
in 1989, the wilkinsburg store and 130 others were sold by ames to mccrory stores corp. , which went into permanent decline in the 1990s and finally closed all of its remaining locations in 2002… .
mccrory is expecting to miss debt payment ,
the new york times, february 15, 1992, p. 39 .
in 1922, mccrory corporation opened one of the world' s largest variety stores - - two floors with 2, 500 lineal feet of counter space - - in brooklyn, new york. the company had expanded to 159 stores with annual sales of $ 14, 400, 000 .
these measures paid off, increasing chain performance and spurring a new round of riklis acquisitions. rapid - american corp. , which already held 62. 5 percent interest in mccrory corporation, acquired full control on march 12, 1976. through the acquisition, rapid - american operated a total of over 2, 000 stores, including 883 mccrory stores. later that year, mccrory further expanded by taking over the leases on 15 locations of the beleaguered w. t. grant company. continued expansion included the takeover of eight variety stores from neisner brothers in 1980 and the acquisition of 46 s. h. kress and v. j. elmore stores from the s. h. kress company in 1981 .
home | publications | encyclopedia | t. g. & y. ; stores
s newer, snazzier stores. hall set out to prove kmart not only wasn
major competitors: wal - mart stores, inc. , target corporation, sears
soon the variety stores' business declined because they lost their advantage in all of the major merchandise classifications they once dominated. other forms of retailing took away their hegemony as the dime stores failed to compete effectively. they lost the stationery business to the new home office stores. growing shoe chains, such as payless, thom mcan, and kinney shoes (owned by woolworth), grabbed the low - price shoe business. drug stores, particularly deep - discount drug stores, captured the toiletries business. discount stores and toy chains, such as toys' r' us and kb toys, captured the toy business. grocery stores and drug stores took over the candy business. the notions business went to fabric stores and became a victim of cultural changes .
about 2, 000 workers will be affected, company officials said, but they declined to estimate how many jobs would be lost. many of the affected employees work part time, they said, adding that efforts would be made to offer them jobs at other stores. mccrory said some of the stores were losing money or were in markets where the company no longer wanted to operate. mccrory stores, the company' s only operating subsidiary, lost $ 44. 4 million in the year ended last january. paul weiner, mccrory' s chief financial officer, said the company would take a charge against earnings in the fourth quarter to pay for the one - time costs of the closings, but he declined to be more specific. the closings will be completed by the end of january, when the current fiscal year ends. mccrory said that after the consolidation, it would operate 800 stores. its other store groups are t. g. & y. , h. l. green and g. c. murphy. mccrory said it would also close a distribution center in clinton, s. c. previously this year, mccrory had closed about 90 stores and a distribution center in lubbock, tex. tim fortune, direction of personnel operations at mccrory stores, said it was not an easy decision to announce the closings two days before christmas .
this is difficult and we regret decisions like this ,
he said .
but we felt it was appropriate to let employees know .
john shearer, one of the oldest citizens of the county, does the largest mercantile business at mccrory and one of the most extensive in eastern arkansas. he also has a store at deview, two miles east of mccrory, where he has been in business for twenty odd years .
the first school in the mccrory area was about a mile north of mccrory, in a barnlike structure east of
the old pine tree
which was left standing when the residential area was developed there a few years ago; but the first school in the mccrory city limits (then) was held in the 1890' s in the
arnof hotel
building on the southwest corner of second and jackson streets ...
based mass - merchandise stores. the stores were generally of the
dime store
format located in downtowns. the grant store in memphis closed in 1976. the building has now been converted to luxury lofts. at its peak there were 1200 grant stores nationwide .
profits for 1987 rose 19 percent, to reach $ 692 million on total sales of $ 25. 6 billion. other factors in year - end figures were the sale of all u. s. kresge and jupiter stores to mccrory
meshulam riklis purchased mccrory' s in 1960, and moved its headquarters to springettsbury township, york county, pennsylvania, in 1963. at the time it was the fourth largest retailer in the united states. riklis controlled mccrory' s through the rapid - american holding company, which was managed by samuel neaman. riklis' famed sleight of hand, shifting assets between notable brand name successful companies and holding companies is best exemplified by his handling of mccrory stores, driving the brand name into bankruptcy while keeping the assets. [ 3 ] among the retailers controlled by mccrory' s at the time were best & co. , lerner shops, and s. klein .
macon brock, doug perry, and ray compton started only $ 1. 00 with 5 stores, one in georgia, one in tennessee, and three in virginia. the expansion of dollar stores was continued alongside k & k toys stores, mostly in enclosed malls .
¶ 24. issues of material fact existed as to whether wal - mart' s actions in terminating mccrory and thompson complied with the provisions of the employee handbook as required under bobbitt and whether the basis for mccrory' s and thompson' s dismissals was in violation of the employer' s policies .
1966), the man who, at the turn of the twentieth century, began building so - called
five - and - dime
stores. by the mid - century these stores had evolved into the kresge
variety stores
found in most american towns. they later became major innovators in retailing, operating huge discount retail stores known as k - mart .
the west coast staple had over 300 stores at its peak. but unfortunately, sprouse - reitz stores went away quickly after it changed its name to
sprouse !
in 1989 .
public company incorporated: 1912 as s. s. kresge company employees: 307, 000 sales: $ 34. 4 billion (1996) stock exchanges: new york sics: 5211 lumber and other building materials; 5331 variety stores; 5411 grocery stores; 5651 family clothing stores
isadore barmash (1976). for the good of the company: the history of the mccrory corporation. isbn 1 - 58798 - 215 - 3 .
the bankruptcy filing had been expected since feb. 17, when mccrory missed principal and interest payments on $ 3. 37 million in debentures. in december, the company said it would close 229 stores and it laid off 2, 000 employees .
s expanded merchandise lines. numerous kresge stores, mostly in deteriorating business areas, were renamed jupiter
s newer, snazzier stores. hall set out to prove kmart not only was not going under
a history of the mccrory postoffice (founded 30 december 1887), including a list of postmasters and carriers can be found in
post office at mccrory, arkansas, rivers and roads and points in between, vol. viii, no. 2 (spring, 1980), pp. 2 - 6 .
mccrory filed for chapter 11 bankruptcy protection in september, the second such filing in its history. at its peak, the company operated 1, 300 units .
after severe losses in 1973 and the 1974 resignations of mccrory corporation' s chairperson as well as the g. mcnew division' s president, the company again moved to stimulate growth. emphasis was shifted from decentralization to strong central control from the pennsylvania headquarters. on february 1, 1975, the chain' s name was changed from g. mcnew to mccrory stores. in addition, measures were taken to close unprofitable stores, to rehabilitate low budget stores, to monitor and tighten overall efficiency, to launch an aggressive sales program, and to tailor cost - effective distribution in face of escalating transportation costs .
dime stores, also known as five - and - ten - cent stores and variety stores, began in the late nineteenth century and developed into a major sector of u. s. retailing. however, changes in shopping patterns and new forms of retailing in the 1970s and 1980s caused the virtual demise of dime stores by the early 1990s. the dime store format also provided the impetus for some of the first chain stores and became an important outlet for american mass - manufactured merchandise .
state law requires certain members of the mccrory administration and other high - ranking officials to file a statement of economic interest within 30 days of their appointment or hiring .
a sister of wade mccrory married a man named seamon, and the next street east of jackson street, and parallel to it, was named
seamon .
somewhere, sometime, someone changed the spelling to
seaman
, probably because hand - written
a' s
and
o' s
frequently look alike, and the street signs on that street all read
seaman
instead of
seamon .
after mccrory' s street signs were installed, someone mentioned it to the late grover mccrory, (wade mccrory' s son), and he laughed about it, but new signs have not been erected since then .
in order to be more competitive, in the 1980s t. g. & y. executives changed some of the outlets to be comparable to department stores. however, the company continued to have financial difficulties. in january 1986 mccrory corporation of york, pennsylvania, bought the 730 t. g. & y. outlets from hfc. the buy out brought about the closure of some oklahoma stores and warehouses. in 2002 mccrory went out of business, causing the final demise of former t. g. & y. stores. ironically, raymond young, the last survivor of the three cofounders, died the same year .
mr. ashur, who said many of the company' s stores were not adequately maintained, said that if the company survived, it was likely to have to close another 250 to 500 stores .
dollar tree acquired dollar bill $, inc. , a chicago - based chain of 136 stores .
dime stores .
dictionary of american history. . retrieved july 09, 2018 from urltoken urltoken
s stores (or 62 percent of the total) had been converted to the big kmart format .
other major variety store chains included w. t. grant, h. l. green, mclellan stores, g. c. murphy, neisner' s, and j. j. newberry. most chains owned all of their stores. however, ben franklin stores operated as a franchise. sam walton started his retail business with a ben franklin store in newport, arkansas. when he was unable to convince the ben franklin management to open discount stores, he opened his own wal - mart stores .
wilmington, de — after more than a decade of struggling to survive, mccrory is liquidating its 200 remaining stores, marking what buxbaum group ceo paul buxbaum called
the final chapter in the history of the last of the major five - and - dime retailers .
other early dime store operators included samuel h. kress, who opened his first variety store in memphis in 1896 and in a few years had twelve stores. when kress died in 1955, his chain had 262 stores with $ 168 million in sales. sebastian s. kresge and j. g. mccrory teamed together to buy a dime store in memphis in 1897. after the pair opened a second store in detroit, they parted ways. by 1917, kresge had over 150 stores, and his operation was second to woolworth' s in size. after experimenting with dollar stores, mail - order, and department stores, the kresge company branched into self - service discount stores called kmart, converting old dime stores into the new format. fifteen years after the first store opened, kmart became the second largest retailer in the world. only sears, roebuck and company had greater sales .
under the same name, mclellan’s flourished in the original carolina trust building until the early 1960s when mccrory’s, a similar five and dime chain, purchased the flailing business. five and dime stores such as mccrory’s included lunch counters that were frequented by hungry patrons. this became a popular staple for five and dime stores, drawing customers to eat as well as shop. typical menu items included hot and cold sandwiches (grilled cheese, blt, ham and cheese, egg salad, etc), soups, ice cream, soda, coffee, and more. if mccrory’s lunch counter existed today, you better believe our coalmarch thursday “fun lunch” would be sippin’ on a milkshake and chatting as we enjoy a melty grilled cheese .
profits for 1987 rose 19 percent, to reach $ 692 million on total sales of $ 25. 6 billion. other factors in year - end figures were the sale of all u. s. kresge and jupiter stores to mccrory corporation (the business founded by sebastian kresge
partnership is dissolved, and kresge takes over the detroit stores, forming s. s. kresge company .
mccrory is situated on the old mccrory homestead, from which the name is derived. the site of the town was settled in 1862, by c. g. mccrory, who lived on it till his death. c. w. mccrory, of texas, a son of c. g. mccrory, bought the interest of the other heirs in then homestead, and has since owned it. of course no thought of building a town here was ever entertained until the construction of the bald knob branch of the iron mountain road made it possible. mr. mccrory donated the right of way and a site for a depot to the railroad company, and about three years ago the town of mccrory started out upon its career. mr. mccrory, in order to give the growth of the town his personal attention, about two years ago removed from texas, where he is the possessor of fine bodies of land, and a sheep ranch, and has taken up his abode in the growing young town that bears his name. he has sold hundred of lots to settlers and comfortable homes are erected in every part of the town. there is an handsome methodist church, one of the finest in the state, outside of the city; twelve or fifteen stores, a hotel, a good school building, a wagon and blacksmith shop, livery stable, a newspaper and job office, a large stave factory, and numerous other enterprises and industries that go to make a town ...
mr. mccrory also faces a tough re - election fight this fall against the state attorney general, roy cooper, who has said that he would not defend the law .
the 1930s marked significant changes in management and planning. in 1931, john g. mccrory vacated the president' s office after nearly 50 years of service and was succeeded by c. t. green, who had been with s. h. kress company for 30 years. green, and his successors, r. f. coppedge and r. w. paul, moved to modernize operations through construction of new stores, personnel training programs, and extended price ranges and merchandise assortments. however, mccrory corporation and its 203 stores slipped into bankruptcy in 1933 .
k mart, with almost 4, 000 stores, has been aggressively upgrading its k mart discount stores and adding such specialized businesses as builders square, pay less drug stores, waldenbooks and bargain harolds, a smaller discount chain. its sales last year totaled more than $ 24 billion, second only to sears, roebuck .
mr. mccrory preceded mr. kresge in the industry, opening his first store in scottdale, pa. , in 1882. three years later, he was operating five stores in the state. born john graham mccrorey, he was so thrifty he legally changed his name, dropping the
meshulam riklis appeared on the scene in 1960, when he acquired a significant amount of the stock of united stores. in 1961, the financier bought full control of the h. l. green company, inc. , temporarily taking over as president of mccrory corp. but soon passing on responsibility to a line of carefully chosen managers. the new officers upgraded existing stores while expanding to new locations. they decentralized and realigned field management and appointed regional and district managers to better control sales and profits. despite such efforts, m - m - g experienced several difficulties. profits during the 1962 - 63 fiscal year were negligible. declining earnings at mccrory stores forced riklis to liquidate all rapid holdings except 51 percent of mccrory. from 1960 to 1964, the company had gone through four presidents and one acting president, contributing to general malaise and low morale .
in 1958, albert m. greenfield, chairperson at bankers securities corporation and variety stores corporation, acquired a large percentage of united stores corporation stock. in january 1959, mccory and mclellan, 37 percent owned by united, effected a merger. then on february 18, 1959, h. l. green company, inc. acquired greenfield' s equity in united stores corp. h. l. green co. dated back to 1932, when harold l. green acquired five retail companies in the limited price field. with its 1959 mccrory - mclellan - green acquisition, united had control over 850 stores .
lebhar, godfrey m. chain stores in america, 1859–1962. new york: chain store publishing, 1963 .
cumberland county’s population 1960 is 148, 418. methodist college opens. hope mills branch library opens with federal library services act funding. students from fayetteville state teacher’s college challenge the laws and customs of racial segregation on february 10, 1960 by sitting at the lunch counters at woolworth and mccrory’s stores .
in the filing, mccrory said it was terminating a contract with mr. riklis' s world wide management partnership that paid mr. riklis a $ 2. 9 million annual salary .
the dime stores traded up to higher price points and continued to grow until the early 1970s. chain store operators controlled over 80 percent of the $ 8. 2 million in sales garnered by 21, 582 stores in 1973 .
long before the days of big - box stores like walmart and target, these five - and - dime stores had everything you needed. you could buy clothes, grab some treats, and eat lunch for under $ 20. these iconic american stores dotted main streets across the country before the big guys came around and put them out of business .
s. s. kresge company, with 85 stores and $ 10. 3 million in sales, is incorporated .
s cafeterias inc. , a 76 - unit chain that was a natural outgrowth of the cafeterias in kmart stores .
memphis had 4 major department stores on main street. from the early days of these stores up to the 60' s, when one went shopping, it meant getting dressed up and going downtown. it was often an all day event where you might have lunch at one of the restaurants or tea rooms in the department stores and then take in an afternoon movie. and the stores would deliver your parcels free of charge. as these stores began to open branches in the suburbs, and tv kept folks away from the movie theatres, memphians made fewer trips downtown and the area began to decline. today, all the stores are gone, but three of the major buildings have been renovated for new use .
from
deview - mccrory
by dorothy hamilton bronte in rivers and roads and points in between, vol. 1, no. 2 (winter 1973), pp. 9 - 13 :
in 1897, sebastian s. kresge and john g. mccrory together opened the first kresge store in memphis, offering'' a variety'' of 5 - to - 10 - cent merchandise from stationery to combs to sewing supplies. mr. mccrory, who had already been operating a small chain in pennsylvania under his own name, eventually left the partnership to concentrate on his own business .
dime stores .
dictionary of american history. . encyclopedia. com. (july 9, 2018). urltoken
s cafeterias inc. , a 76 - unit chain that was a natural outgrowth of the cafeterias in k mart stores .
in its filing in federal bankruptcy court in manhattan, the mccrory corporation, based in new york, said it was under pressure from bondholders to make a $ 75 million bond payment due in july .
targeted by corporate raiders in 1985, the g. c. murphy co. was taken over by connecticut - based ames department stores, which closed more than 100 of its variety stores … but the wilkinsburg store — the 39th in the chain — was spared .
mccrory is one of the promising young towns of arkansas. it is situated near the center of woodruff county on the bald knob branch of the iron mountain railroad, seventy - two miles west of memphis ...
the 1890s, for most americans, were a time of economic depression. during this period of
hard times
, kresge had the idea of starting a chain - store operation based on low - end products. by 1899 kresge and his partner j. g. mccrory opened stores in memphis, tennessee, and detroit, michigan. during 1899 kresge traded his interest in the tennessee store to mccrory and took full possession of the detroit store. the detroit store was a starting point of the largest chain - store company in america, the s. s. kresge co .
john graham mccrorey opened his first store in scottdale, pennsylvania, in 1882. [ 1 ] by 1885, the chain had five stores in pennsylvania. mccrory was known for his thrifty nature, so much so that he legally dropped the e from his last name so he would not have to pay for extra letters on his store signs. [ 1 ]
here' s a look back on years of good bargains and friendly store clerks. how many of these stores were in your town ?
woolworth had recently tried to acquire the same 76 stores, but negotiations fell through, according to barbara palazzolo, a k mart spokeswoman .
always in high - traffic, convenient locations, kresge red front stores featured open displays of merchandise with items systematically associated. following their founder
kmart files for chapter 11 bankruptcy protection, becoming the largest retailer ever to do so; company announces that it will close 284 stores .
s bay company for us $ 167. 7 million (the stores were either closed or converted to other formats, mainly zellers) .
the story then repeated itself. kmart became the leader of discount stores, but because of poor management and overspending, new discount stores on the block, including wal - mart and target (see entries), began to take over, leaving kmart with too many stores, too few customers, and not enough money to stay in business. the fate of the historic retailer, however, has yet to be determined. plans to close unprofitable stores and revitalize older ones are the company' s latest efforts to restore kmart' s fading image .
well... i just happened on this group... mclellans was a mccrory store. after mclellans was acquired by mccrory the only thing different was the name over the door. everything else was the same. the same is true of the h. l. green stores. the company was then referred to overall as mmg. i was a store manager if a mccrory store bearing the mclellans name for 9 years in the 60' s. but not in your part of the country. my store was in columbia mississippi. i was there from june' 62' to march' 71'. i started as a trainee in allentown pa in' 56'. from there to texas in' 60' then to ms. in my district there were stores bearing all three names. my store, as it was in the' 60' s, from my smugmug site... an old old scan... urltoken
dollar tree opened its 4, 000th store and acquired 86 canadian dollar giant stores based in vancouver, british columbia. the stores are operated in british columbia, ontario, alberta, and saskatchewan. these are the first retail locations outside of the united states operated by dollar tree .
in the filing, mccrory listed assets of $ 671. 9 million and liabilities of $ 542. 7 million. the company' s outstanding debt totals $ 223 million, with more than 85 percent due after 1995. financing arranged
the financing will enable mccrory and its subsidiaries to fulfill all of our inventory requirements and should allow us to retain the full confidence of the vendor community during our reorganization ,
said paul weiner, the company' s treasurer .
jeannette houghton and ethel wilson worked together for 50 years and met again by chance a few years ago at mccrory' s highlander restaurant in downtown hagerstown. they' ve eaten together at the restaurant on a regular basis ever since .
by the end of 1929. these brought the total number of kresge stores to 597, together yielding sales of $ 156. 3 million .
cunningham researched other discount stores and visited all of the kresge stores. he determined the company would make more money if it purchased large amounts of a small number of items and discounted their prices. with this innovation, the kresge company invested $ 80 million to build a chain of discount stores. the chain was called kmart, and in 1962, the first store opened in garden city, michigan, a suburb of detroit .
by the late 1980s, mccrory stores was again experiencing heavy losses. to address the problem, riklis retained an elite group of managers, whom he retrained in management, marketing, and sales skills, dubbing them the company' s
green berets .
from this group riklis chose 30 members to serve as a squad of shock troops, dubbed
unit 101
after israeli industry and trade minister ariel sharon' s anti - terrorist unit. these special trainees were sent to mccrory' s top 100 stores equipped, among other things, with a powerful incentive plan shared on all company levels: if the company' s pre - tax profits were 10. 4 per cent, all employees would receive a bonus of seven days pay; 11. 4 per cent on sales would yield a bonus of 10 days pay. in june 1989, riklis rewarded 2, 000 mccrory employees and their spouses with a company - paid, two - week tour of israel, greece, and egypt .
s operations into warehouse - type stores, changing the name to builders square. next came waldenbooks, costing $ 300 million for 845 stores that had produced sales of $ 417 million in 1983. an oregon - based chain of 164 drugstores called pay less joined the growing lineup in 1985 .
shortly after the filing, mccrory said it had arranged for $ 100 million of financing from cit group / business credit inc. the company also said it had received approval from the bankruptcy court to immediately use $ 40 million of the loan .
well... i just happened on this group... mclellans was a mccrory store. after mclellans was acquired by mccrory the only thing different was the name over the door. everything else was the same. the same is true of the h. l. green stores. the company was then referred to overall as mmg. i was a store manager if a mccrory store bearing the mclellans name for 9 years in the 60' s. but not in your part of the country. my store was in columbia mississippi. i was there from june' 62' to march' 71'. i started as a trainee in allentown pa in' 56'. from there to texas in' 60' then to ms. in my district there were stores bearing all three names. my store, as it was in the' 60' s, from my smugmug site... an old old scan... < a href =
urltoken
rel =
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in 1936 the morrow brothers bought the debentures and preferred stock of both mccrory and its competitor, mclellan stores, which was founded in 1916 and had also declared bankruptcy in 1933. working through their united stores corporation, they negotiated a reorganization wherein they received about 37 percent of the new common stock. under the direction of r. f. coppedge, the
dime store
image was elevated with improved facilities and presentation, including more accessible window displays and consumer - friendly color schemes for store interiors. the june 1950 issue of chain store age reported that
mccrory had become one of the leaders in the chain variety store field in fashion and ready - to - wear assortments .
by 1957, sales reached approximately $ 112 million and net profit after tax totaled $ 3. 5 million .
by the 1950s, five - and - dime stores had become known as variety stores because they sold a variety of items at low prices. kresge' s was one of many variety stores, and competition was fierce. in 1959, a thirty - year kresge employee, harry b. cunningham (1907 - 1992), was promoted to company president. under his leadership the company made some changes that would eventually make it the number one discount store .
operations into warehouse - type stores, changing the name to builders square. next came the walden book company (waldenbooks), costing $ 300 million for 845 stores that had produced sales of $ 417 million in 1983. an oregon - based chain of 164 drugstores called payless joined the growing lineup in 1985 .
k & k toys was sold to kb toy s; , a melville corp. , and all assets were applied to the expansion of the dollar stores .
s future to announce plans to open 400 stores over the next five years, with half of the units to be super kmart centers. about 100 new stores were opened in 1999, the same year that kmart ventured into e - commerce with the formation of bluelight. com, a joint venture formed by kmart ,
in 1928, the building was sold to mclellan’s stores, a thriving five and dime chain that was founded by scottish owner william mclellan, for $ 250, 000. five and dime stores were extremely popular during this time, featuring a variety of merchandise that was affordable to immigrants and rural americans moving to the cities .
operations into warehouse - type stores, changing the name to builders square. next came the walden book company (walden - books), costing $ 300 million for 845 stores that had produced sales of $ 417 million in 1983. an oregon - based chain of 164 drugstores called payless joined the growing lineup in 1985 .
kresge was able to maintain the ten - cent limit in his stores until 1920, when he began selling items worth up to one dollar. after world war ii he began selling a range of goods at various prices. his store became a
variety store ,
but he was still holding on to the inexpensive end of the product market. by 1961 kresge approved an $ 80 million deal to finance a line of stores called k - mart and another discount chain, to be located in deteriorating neighborhoods, known as jupiter stores. by 1966 the kresge chain stores were the second largest in the country, with annual sales of $ 850 billion .
in 1965 the company underwent several changes. one involved the sale of longtime subsidiary mount clemens pottery. another was the acquisition of holly stores, a retailer of women
mr. mccrory preceded mr. kresge in the industry, opening his first store in scottdale, pa. , in 1882. three years later, he was operating five stores in the state. born john graham mccrorey, he was so thrifty he legally changed his name, dropping the'' e,'' because he did not want to pay the cost of the extra initial in the gilt letters on his store signs .
kmart began as one of the first discount stores. they were also called
five - and - dimes
because each item in the store could be purchased for five or ten cents. soon after it opened, because of good management and fair prices, kmart became the top discount retailer in the united states. it was even more successful than woolworth, the company that introduced the idea of variety discount stores. eventually the success of kmart caused the decline and the closing of woolworth stores .
in the early 1970s, about 1, 200 w. t. grant stores dotted main streets around the country. but not long after, the chain was one of the first large five - and - dime stores to declare bankruptcy. when it happened in 1976, it was our country' s second largest bankruptcy in history .
in addition, there are fewer and fewer stores drawing people to downtown hagerstown. paradoxically, deter said, there are more nearby restaurants competing for the business that remains .
from
sketch of mccrory in 1891
in the arkansas gazette, july 10, 1891, found in rivers and roads and points in between, vol. xi, no. 1 (augusta: woodruff county historical society, winter 1983), pp. 30 - 32 :
m - m - g continued to grow into the 1970s. in 1969 the company purchased 22 superstores in the south. in order to better service small variety chains and independent variety stores, m - m - g established the york distribution company (ydc) in 1970. two years later, rapid - american corp. acquired the j. j. newberry company and merged it with mccrory corporation, joining 650 m - m - g stores with 439 newberry units, including select william tally house cafeterias. renamed g. mcnew, the resulting chain was decentralized and broken into six separate subdivisions, referred to as mac companies .
gov. pat mccrory of north carolina and mr. bryant join a list of republican governors who are being squeezed between the business groups that have formed the core of their support and conservative state lawmakers pushing back against recent gains made by advocates of gay rights and same - sex marriage .
a second distribution center was opened in olive branch, mississippi. bob sasser was hired as chief operating officer. dollar tree acquired only $ one stores located in new york .
dollar tree’s steady growth continued as the company opened 345 new stores and exceeded $ 7 billion in sales. market cap was $ 9. 13 billion at year - end .
in 1965 the company underwent several changes. one involved the sale of long - time subsidiary mount clemens pottery. another was the acquisition of holly stores, a retailer of women
¶ 2. mark mccrory and david thompson were terminated from employment at wal - mart. though the facts are somewhat sketchy as to the basis for termination, it appears that the decision to discharge these employees arose out of an incident involving their treatment of customers that they suspected were potential shoplifters .
with the depression over by 1940, there were 682 stores in 27 u. s. states, plus 61 in canada. together, the stores produced 1940 sales of $ 158. 7 million. as the decade advanced, many homeowners moved out to the suburbs from inner city locations; the retailers followed. kresge management cautiously opened one suburban shopping center store in 1947, adding to the first one that had opened in 1929. three more followed in 1948. by 1953 there were about 40 suburban stores in the united states, plus one in canada .
after world war i (1914 - 18), inflation caused prices everywhere to rise quickly, which made it difficult for dime stores to maintain their low prices. to stay in business, kresge opened
green front
stores, selling items for twenty - five cents to one dollar, next to the traditional five - and ten - cent
red front
stores. kresge' s and woolworth' s, which also had red and green front stores, were most often located in high - traffic downtown areas. this was before suburban areas were developed in areas surrounding larger cities. by the mid - 1930s, kresge opened his first store in a suburban shopping center in kansas city, missouri, eventually selling items for hundreds of dollars.
mccrory stores or j.g. mccrory 's was a chain of five and dime stores in the united states based in york , pennsylvania . the stores typically sold shoes , clothing , housewares , fabrics , penny candy , toys , cosmetics , and often included a lunch counter or snack bar . they also exclusively sold oriole records , one of the most popular ' dime store labels ' from 1921 to 1938 . 
mccrory stores or j.g. mccrory's was a chain of five and dime stores in the united states based in york, pennsylvania. the stores typically sold shoes, clothing, housewares, fabrics, penny candy, toys, cosmetics, and often included a lunch counter or snack bar. they also exclusively sold oriole records, one of the most popular' dime store labels' from 1921 to 1938.
mccrory stores or j.g. mccrory's was a chain of five and dime stores in the united states based in york, pennsylvania. the stores typically sold shoes, clothing, housewares, fabrics, penny candy, toys, cosmetics, and often included a lunch counter or snack bar. they also exclusively sold oriole records, one of the most popular' dime store labels' from 1921 to 1938.