Loft, Inc. was the world's largest maker and seller of candy in the 1920s. It manufactured its own products and distributed them throughout greater
New York City
New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...
and
Newark, New Jersey
Newark ( , ) is the most populous city in the U.S. state of New Jersey and the seat of Essex County and the second largest city within the New York metropolitan area.PepsiCo following an agreement of merger filed in
Wilmington, Delaware
Wilmington (Lenape: ''Paxahakink /'' ''Pakehakink)'' is the largest city in the U.S. state of Delaware. The city was built on the site of Fort Christina, the first Swedish settlement in North America. It lies at the confluence of the Christina ...
in June 1941. Loft Candy Corporation was shortly spun off, acquired by
Philadelphia
Philadelphia, often called Philly, is the List of municipalities in Pennsylvania#Municipalities, largest city in the Commonwealth (U.S. state), Commonwealth of Pennsylvania, the List of United States cities by population, sixth-largest city i ...
retail magnate Albert M. Greenfield's City Stores Company chain. Rapid expansion followed, with Loft's 2,100 employees making 350 products that were distributed over fifteen states along the Eastern Seaboard and Midwest.
A decade of multiple ownership and management changes led to the company declining, accelerated by an acquisition in 1971 by the Southland Corporation. An attempt to stem the issues with the acquisition of and merger with prominent Northeastern confectioner Barricini Candies, Inc., the following year failed, and mass store closures and layoffs began. A 1976 sell-off of the combined operation to Long Island City-based B.L. Candy Company proved disastrous. By 1985 only 40 stores remained in the New York area, with all company retail outlets closing in 1988, followed by cessation of production, and corporate dissolution in 1994.
Business history
In 1860, English immigrant William Loft opened a candy store in Lower Manhattan. Loft's two sons followed in his footsteps, with his eldest son George W. Loft taking charge of the company in the 1890s. George Loft soon opened two more stores, then added more in
New York City
New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...
as he moved production out of the family kitchen into a series of increasingly large factories, the latter of which culminated in a location in Long Island City.
On March 31, 1921, Loft, Inc., declared its initial dividend of .25 per share.
In 1934 and 1935, the company conducted an advertising and sales campaign against its competitors which was judged to be disparaging by the Federal Trade Commission. The regulatory agency ordered it to cease and desist from representing
glucose
Glucose is a simple sugar with the molecular formula . Glucose is overall the most abundant monosaccharide, a subcategory of carbohydrates. Glucose is mainly made by plants and most algae during photosynthesis from water and carbon dioxide, u ...
used in candy, as being ''impure, harmful to the health, or unwholesome, or unsafe.''
In 1939, a notable case, '' Guth v. Loft Inc.'', was decided in favor of Loft and against
Charles Guth
Charles George Guth (June 3, 1877May 24, 1948) was an American businessman, who, as executive of the Loft Candy Company, purchased the trademark and the syrup recipe of the twice-bankrupt Pepsi-Cola Company. He was President of Loft Candy Compan ...
, president and general manager.
Loft, Inc., owned ten factory and office buildings at the northeast corner of Fortieth Avenue and Vernon Boulevard, extending to Ninth Street in Long Island City. They were sold to the Loft Realty Corporation in April 1941. The structures stood on an irregular plot which measured 400 by 450 feet. They also had a store on 55th Street and 5th Avenue in
Sunset Park, Brooklyn
Sunset Park is a neighborhood in the southwestern part of the borough of Brooklyn in New York City, bounded by Park Slope and Green-Wood Cemetery to the north, Borough Park to the east, Bay Ridge to the south, and Upper New York Bay to the ...
.
Loft's candy operations were spun off from the new Pepsi-Cola Corporation in 1941, an immediate result of the Loft-Pepsi merger. The newly independent Loft Candy Corporation attracted the attention of
Philadelphia
Philadelphia, often called Philly, is the List of municipalities in Pennsylvania#Municipalities, largest city in the Commonwealth (U.S. state), Commonwealth of Pennsylvania, the List of United States cities by population, sixth-largest city i ...
magnate Albert M. Greenfield, whose City Stores Company (CSCo) rapidly acquired control of the new company. Under CSCo management (appointed by Greenfield), Loft Candy expanded into New York,
New Jersey
New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delaware ...
, and
New England
New England is a region comprising six states in the Northeastern United States: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. It is bordered by the state of New York (state), New York to the west and by the Can ...
. The company also opened stores in some of the larger New York City Subway stations. By 1958, approaching the centennial of Loft's, the company owned or controlled stores in the Eastern Seaboard and the Midwest, in 11 states and the
District of Columbia
)
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, with over $17 million in sales and 2,100 employees. Loft's 350 different candy products were also sold in CSCo and independent department (and smaller
variety
Variety may refer to:
Arts and entertainment Entertainment formats
* Variety (radio)
* Variety show, in theater and television
Films
* ''Variety'' (1925 film), a German silent film directed by Ewald Andre Dupont
* ''Variety'' (1935 film), ...
and drug) stores in an area covering 15 states and the nation's capitol.
In 1971, after having had several different managements and owners over the previous decade, the Loft Candy Corporation was acquired by Southland Corporation. A year later, Southland purchased Barricini Candies, Inc., combining it into a single operational unit with Loft Candy. In 1973, Southland closed 31 Barricini and Loft's stores in 11 states. In 1976, Southland sold the Loft-Barricini operations, along with the Long Island City manufacturing plant and approximately 200 New York area stores, to the B.L. Candy Company, Inc., of Long Island City.
By 1985, there were only 40 Loft's Candies stores in the New York area. After renaming itself the Barricini-Loft Co., Inc., in 1988, the company closed all remaining shops and ceased business in 1994.