International Directory of Company Histories. After these reductions, Ames became the nation’s fourth largest discount retailer, with 693 stores in 20 states running from the Northeast, out to Illinois, and then down to the South. The Caldor stores were converted to the Ames format later in 1999. Driscoll, Lisa, “The Fix-It Doctor with a Rough Bedside Manner,” Business Week, October 29, 1990. International Directory of Company Histories. The company ended the year with losses of $228 million. 4 in Discount,” Wall Street Journal, November 13, 1998, p. A4. With Kmart in bankruptcy and other discount retailers … Most all of its former locations have been washed over or occupied by succeeding retailers with only minor remnants to remain. About Ames Department Stores . The company brought in merchandise made by well-known manufacturers and sold it in bright, well-organized settings. Store Hours. This transition was made much more quickly than originally planned, in seven months rather than a year and a half. In starting out their business, the Gilmans sought to fill a niche in the retail industry that had hitherto been ignored. It’s going to work for the other half.” This optimism, however, proved ill-founded, as company results continued to worsen. Ames Department Stores closed its doors in 2002. Although sales in its old Ames stores rose, returns at its Zayre properties went into a slump, dropping off by 15 percent. In addition, the company ran 20 variety stores, most of which were located in Florida. Public Company U.S.A. Ames Department Store. Website. In starting out their business, the Gilmans sought to fill a niche in the retail industry that had hitherto been ignored. In doing so, the company let 18,000 employees go. In March 1981, the company remodeled its original Massachusetts store, adding one-fifth more display space for higher quality goods and new products. These modifications resulted in a sales increase of one-quarter. Uncover why Ames Department Store is the best company for you. A discount store giant on the American east coast. Buy Online. Ettore had been president and CEO of Jamesway Corp., a Secaucus, New Jersey-based discount retailer. Ames Department Store, is an old name with new fresh ideas and out looks about business. In October the company announced that it would close 77 more stores and lay off 4,500 more employees after the holiday season. In starting out their business, the Gilmans sought to fill a niche in the retail industry that had hitherto been ignored. 1 Cape May Street Ames returned to its policy of growth through acquisition in 1984 when it bought KDT Industries, Inc. for $28.5 million. Prices were kept low all the time, rather than being set high and then reduced for periodic sales. Girishankar, Saroja, “Retailer Seeks a New Kind of Customer,” Internet Week, June 21, 1999, pp. Although the Zayre purchase enabled Ames to begin operating stores in such promising markets as Florida and Illinois, overall the move was risky. Mike Duff, Mike, “Ability to Adapt Is Ames’ Advantage,” Discount Store News, March 23, 1998, pp. 1100 North Market Street Nine months later Ames agreed to make its largest and most ambitious purchase to date, pledging $800 million to acquire the discount stores division of the Zayre Corporation, based in Framingham, Massachusetts. However, the date of retrieval is often important. To finance its operations, the company had arranged a $210 million letter of credit from its bankers. Opens in 7 h 35 min. 27 +. Fax: (513) 860-8251 ." For advertising, the company relied on direct mail sent to carefully selected shoppers who lived near Ames stores. https://www.encyclopedia.com/books/politics-and-business-magazines/ames-department-stores-inc-0, "Ames Department Stores, Inc. The stores sell brand name and other quality merchandise at discount prices, from locations in rural communities, small cities, and suburbs of metropolitan areas. $17.00. However, the decision on whether to change the name of the Zayre stores still had to be made. Sie sind auf der linken Seite unten aufgeführt. 4680 Old William Penn Highway, Monroeville PA 15146 Phone Number:(412) 856-8270. Manufacturers were refusing to ship the company merchandise, and bankers were refusing to lend it any more money. In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. 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