To finance its operations, the company had arranged a $210 million letter of credit from its bankers. After shedding more than half its properties, Ames emerged from bankruptcy, determined to rebuild its profitability. (203) 741-6808 Ames had stuck to its original rural orientation, eschewing heavily industrialized areas and places where one company employed almost all the inhabitants. After decades of profitability and steady growth, Ames exploded in size in the 1980s when it began buying up other discount retail chains. Website. When this formula proved profitable, the Ames company was incorporated in 1962. Shortly after this, the company’s chairman resigned. Six years later, the company continued its expansion through acquisition when it purchased the Davis Wholesale Company for $1 million, bringing 13 W.T. Ames store policy eliminated deep discounts in favor of steady, everyday low prices, to which it hoped customers would adjust. In addition, Zayre had brought customers into stores with periodic deep discount sales, which were heavily promoted in newspapers and mailed circulars. Despite the poor results from the Zayre stores, Ames executives were resolved to stick with their original plan of converting the stores to the traditional Ames model. For its money, Ames got 392 stores located in the Northeast, the South, and the Great Lakes states. As a result of its bankruptcy filing, Ames suspended all advertising for four weeks, hoping to get the pipeline of merchandise moving again. These ambitions were stymied in the following year, as Ames experienced unusually high “shrinkage”—retailing jargon for losses due to theft and embezzlement of goods, as well as poor inventory control and pricing mix-ups. From August 14, 2002. 1, 18. Dillard Department Stores, Inc. The company closed Zayre’s Massachusetts office and moved its employees to the Ames headquarters located outside Hartford, Connecticut. “The philosophy is working,” the chairman of the company told the Wall Street Journal, adding, “It has worked for half our business. The key to a company turnaround was a refocus on Ames’s traditional customers—people in the lower middle income sector. Ames Department Stores Inc. was an American chain of discount stores based in Rocky Hill, Connecticut, United States.The company was founded in 1958 with a store in Southbridge, Massachusetts, and at its peak operated 700 stores in 20 states, including the Northeast, Upper South, Midwest, and the District of Columbia, making it the fourth-largest discount retailer in … Ames Department Store, is an old name with new fresh ideas and out looks about business. Liquidating these properties allowed Ames to raise $210 million from its sold-off inventory. The company’s elimination of the Zayre credit card and its lack of heavy advertising also cut into sales. to $822 million, and earnings climbed 43 percent, to $28.5 million. Their acquisition brought the number of stores Ames had acquired during the 1970s to 47; however, the company soon closed ten stores in the New York area. Along with these items, racks and bins of marked-down items were found in the stores. 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. Ames Department Stores hours and Ames Department Stores locations along with phone number and map with driving directions. Ten days later, the company consummated the plan and formally emerged from bankruptcy. U.S.A. Ames Department Store Survivors The company had introduced a policy of offering deeply discounted items to bring customers into stores, with the expectation that, Johannes, Laura, “Ames, Hit by Slow Sales over Holiday, to Close 17 Stores, Lay Off Over 1,000,” Wall Street Journal, January 15, 1996, p. A5. Although the Zayre purchase enabled Ames to begin operating stores in such promising markets as Florida and Illinois, overall, the move was a risky one. While Ames already operated in many of these areas, its stores were primarily located in rural areas, while Zayre’s strength was in urban zones. 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 began the process of converting the Murphy stores to the Ames model, as it reconfigured operating systems, methods, and procedures. WallieB26 shares his adventures on Youtube and one of his favorite places to visit are former Ames Department Stores. . Ames Department Stores, Inc., is one of the largest American discount retailers, with more than 300 stores located in 14 Northeastern states. If you're ready for a trip … By late April 1990 Ames was staggering from continued poor sales at its Zayre operations, as well as the debt burden brought on by the large purchase and the costs of converting stores. All Stores > Ames Department Stores Locations & Hours ; 1 Ames Department Stores - Lafayette 2500 … Driscoll, Lisa, “The Fix-It Doctor with a Rough Bedside Manner,” Business Week, October 29, 1990. The company focused on setting up stores in smaller towns in rural areas. In this endeavor, Ames proved largely successful. 4,” Discount Store News, May 24, 1999, pp. Nevertheless, it appeared that Zayre’s traditional core of customers was eschewing the remade stores. U.S.A. Free shipping. (860) 257-2000Fax: (860) 257-2168Web site: http://www.amesstores.com, Public Company Incorporated: 1962Employees: 36,400Sales: $2.51 billion (1998)Stock Exchanges: NASDAQTicker Symbol: AMESNAIC: 45211 Department Stores. You can also be an honorary member if you just miss Ames. Although this kept profit margins higher, the company’s prices proved uncompetitive in a discount department store bargain war. Campanella, Frank W., “Small-Town Merchant,” Barron’s, December 28, 1981. Find 1431 listings related to Ames Department Store in New York on YP.com. Public Company Please invite anyone who's interested to join! Publication date 1997-01-01 Topics Ames, Department, Stores, Retail, United States, Chain, Stores Collection opensource Language English. These ambitions were stymied in the following year, as Ames experienced unusually high “shrinkage”—retailing jargon for losses due to theft and embezzlement of goods, as well as poor inventory control and pricing mix-ups. Closes in 2 days 23 h 35 min. Following Pistner’s ouster, Peter Thorner, who had been CFO and executive vice-president, was named president and CEO on an acting basis and began running the company in concert with an oversight committee consisting of three board members. Finally, on April 25, 1990, Ames was forced to file for bankruptcy, seeking protection from its creditors in Chapter 11 reorganization. Ames Stores Alumni has 1,246 members. Its largest purchase, of nearly 400 Zayre stores, coincided with a downturn in the economy of its core states and drove the company into bankruptcy. If you have any comments or suggestions please let us know. TOTAL: 296 Closed discount stores, home centers and other retail stores in ME, NH, and VT. Only known retail chains. The company brought in merchandise made by well-known manufacturers and sold it in bright, well-organized settings. Friends and ex-coworkers who used to work at any now defunct Ames Department Stores, stores, distribution center or corporate office. These policies enabled the company to establish an unbroken record of profitability since its inception, and eight straight years of growing sales and earnings. Delores Ellen Presock Pratt. Department Stores Near Me ; Department Stores Ames, IA; Opening hours for Department Stores in Ames, IA 7 results . Zayre shoppers were accustomed to stores open 24 hours a day, a policy that Ames had eliminated as a cost-cutting measure. After decades of profitability and steady growth, an acquisition spree in the 1980s—highlighted by the 1988 purchase of 392 Zayre stores—coupled with a downturn in the economy of its core states, drove the company into bankruptcy. Lechters, Inc. The grand reopening was supported by a multimillion dollar television advertising campaign featuring the slogan, “We grew up with better values.” In addition, the company planned further renovations of these stores in the near future. Ames Department Store. New Vintage Ames Dept Store Christmas Lights Santa Claus in Orig. The company focused on setting up stores in smaller towns in rural areas. Bitte scrollen Sie nach unten und klicken Sie, um jeden von ihnen zu sehen. A department store infamously known for its public decline in its later years. Arlen, Jeffrey, “Big Pencil: Ames Moves Up to No. In addition, the company ran 20 variety stores, most of which were located in Florida. This particular abandoned Ames Department Store in Kentucky is located in Radcliff and you won’t believe what’s hiding inside. Despite the poor results from the Zayre stores, Ames executives were resolved to stick with their original plan of converting the stores to the traditional Ames model. In April 1999 Ames gained additional units through the $40 million purchase from Caldor Corporation of seven stores in Connecticut and one in Massachusetts, as well as a state-of-the-art 649,000-square-foot distribution center in West-field, Massachusetts. A disastrous acquisition of faltering giant Zayre in 1988 caused Ames … Reassured by these positive results, the company made a more risky purchase the next year: Ames paid $196.5 million in April 1985 for the G.C. Zayre had its own history as one of the oldest and best-known U.S. retail chains. ForLocations, The World's Best For Store Locations and Hours Login 4680 Old William Penn Highway, Monroeville PA 15146 Phone Number:(412) 856-8270. Instead, however, the company found that shoppers were “cherry picking” bargains and then leaving, causing Ames to report losses of $91.4 million over its third quarter of 1992. Growing desperate, Ames opened its stores on Thanksgiving Day, in hopes of boosting sales. Ames - Augusta ME. About Ames Department Stores . Enfield, Connecticut 06082 $0.99 + shipping. U.S.A. ." See reviews, photos, directions, phone numbers and more for Ames Department Store locations in … 2418 Main StreetRocky Hill, Connecticut 06067U.S.A. Growing desperate, Ames opened its stores on Thanksgiving day, in hopes of boosting sales. Opens in 7 h 35 min. . Children's Clothing. Fax: (973) 849-6197 . "Ames Department Stores, Inc. Learn what worklife at Ames Department Stores is really like by reading real anonymous reviews by current and former employees. It’s going to work for the other half.” This optimism, however, proved ill-founded, as company results continued to worsen. Ten days later, the company consummated the plan and formally emerged from bankruptcy. In deference to this heritage and to the brand loyalty of many of Zayre’s urban customers, Ames announced in February 1989 that the company would not change the names of 61 profitable inner city Zayre stores to “Ames.” Eight months later, however, on October 26, 1989, it did reopen 254 other old Zayre stores as refurbished Ames stores. In March 1981, the company remodeled its original Massachusetts store, adding one-fifth more display space for higher quality goods and new products. Ames Department Stores closed its doors in 2002. AMES DEPARTMENT STORE LUNCH BAG-BRAND NEW-VINTAGE-COLLECTIBLE. and interest payments. Six years later, the company continued its expansion through acquisition when it purchased the Davis Wholesale Company for $1 million, bringing 13 W.T. See reviews, photos, directions, phone numbers and more for Ames Department Stores locations in … ." 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. If you have any comments or suggestions please let us know. Fax: (314) 342-4473 In starting out their business, the Gilmans sought to fill a niche in the retail industry that had hitherto been ignored. Lisanti, Tony, “Ames May Be a ‘What Went Right’ Story,” Discount Store News, November 23, 1998, p. 11. Murphy properties in August 1989 to E-II Holdings, owned by the Riklis family, for $77.6 million. See reviews, photos, directions, phone numbers and more for the best Department Stores in Ames, IA. We’re aware that these uncertain times are limiting many aspects of life. To further streamline itself and sharpen its focus on its largest and most recent purchase, Ames sold off its G.C. Show open only . Ames expanded steadily, concentrating its growth in the Northeast. All of the company’s retail properties were located in small towns or near highways that were easily reached by people living in the surrounding areas. The company ended the year with losses of $228 million. 17 +. Despite some success in its later years, Ames was plagued by debt and a slow decline in sales and went out of business in 2002. In order to maintain its policy of offering brand names at discount prices, Ames maintained tight control over its overhead DOVER — When former retail giant Ames Department Stores went out of business, the owner of the Central Avenue building where it was … Find out what works well at Ames Department Store from the people who know best. Fax: (203) 741-…, Mercantile Stores Company, Inc. Buy At Your Local Retailer. A4–A5. It planned to use this money to upgrade and replenish the merchandise of its remaining stores. Lincoln Center replaced the old Ames High Fieldhouse and athletic grounds south of the intersection of Lincoln Way and Grand. The company brought in merchandise made by well-known manufacturers and sold it in bright, well-organized settings. Ames Chairman and CEO Joseph R. Ettore in announced that the discount chain would close all 327 … The Gilmans took the name of their store from the name of its site’s old tenant, the Ames Worsted Textile Company. The company ended the year with losses of $228 million. Ames Department Stores, Inc. is one of the largest discount retailers in the United States, with more than 450 stores located in 19 contiguous northeastern, midwestern, and Mid-Atlantic states. In early 1990 Ames closed an additional 15 old Zayre stores, most of which were located near other Ames outlets. The Ames mission is to provide quality products for family and home at discount prices; provide a convenient and efficient shopping experience; achieve a sustainable competitive advantage; build and sustain strong supplier partnerships. When we recieve your order we process your order as soon as we possibly can sometimes we do have a work load that slows us down but we do not want your order to just be sitting around in our building, we ship your order as soon as we possibly can and we try to ship the cheapest and the best way possible. Lot of Approx. In the spring of 1986, an error occurred in which the inventories of clothing items intended for wear in the warmer months were shipped out to Ames stores late in the selling season, resulting in forced mark-downs on much of the merchandise, which depressed company earnings for that period. In starting out their business, the Gilmans sought to fill a niche in the retail industry that had hitherto been ignored. Prices were kept low all the time, rather than being set high and then reduced for periodic sales. Thanks from every one at Ames. Department Stores in Ames on YP.com. . Initially, the company also planned to retain all Zayre personnel, although, ultimately, it estimated that 10 to 15 percent of Zayre’s unprofitable stores would be closed. Initially, the company also planned to retain all Zayre personnel, although, ultimately, it estimated that ten to 15 percent of Zayre’s unprofitable stores would be closed. While today's shoppers turn to Saks, Neiman Marcus, and Macy's for everything from prom dresses to electronics, not long ago, they were spending money at now-defunct department stores like Hecht's, Ames, and Marshall Field's. When unexpectedly poor sales made it impossible to pay for past purchases, Ames found itself unable to buy needed merchandise from its suppliers. Reassured by these positive results, the company made a riskier purchase the next year, paying $196.5 million in April 1985 for the G.C. The name of the Ames Department Store was due to simply reusing the old sign of the textile mill for the new business. 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