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E. J. Korvette
E. J. Korvette, also known as Korvette’s, was an American chain of discount department stores, founded in 1948 in New York City. It was one of the first department stores to challenge the suggested retail price provisions of anti-discounting statutes. Founded by World War II veteran Eugene Ferkauf and his friend, Joe Zwillenberg, E. J. Korvette did much to define the idea of a discount department store. It displaced earlier five and dime retailers and preceded later discount stores, like Walmart, and warehouse clubs such as Costco. The company failed to properly manage its business success, which led to decline and its 1980 bankruptcy and closure. Innovations E.J. Korvette's founder, Eugene Ferkauf, began his discounting career in a loft in mid-Manhattan, New York City. Inventory consisted of well-known brands of luggage, household appliances, and some jewelry. Discounts were one-third off regular prices. Sales were more than $2,500 per square foot. Ferkauf retired in 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Discount Department Store
Discount stores offer a retail format in which products are sold at prices that are in principle lower than an actual or supposed "full retail price". Discounters rely on bulk purchasing and efficient distribution to keep down costs. Types (United States) Discount stores in the United States may be classified into different types: Hypermarkets (superstores) Discount superstores such as Walmart or Target sell general merchandise in a big-box store; many have a full grocery selection and are thus hypermarkets, though that term is not generally used in North America. In the 1960s and 1970s the term "discount department store" was used, and chains such as Kmart, Zodys and TG&Y billed themselves as such. The term "discount department store" or "off-price department store" is sometimes applied to big-box discount retailers of apparel and home goods, such as Ross Dress for Less, Marshalls, TJ Maxx, and Burlington. Category killers So-called category killer stores, specialize in o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Home Appliance
A home appliance, also referred to as a domestic appliance, an electric appliance or a household appliance, is a machine which assists in household functions such as cooking, cleaning and food preservation. The domestic application attached to home appliance is tied to the definition of appliance as "an instrument or device designed for a particular use or function". ''Collins English Dictionary'' defines "home appliance" as: "devices or machines, usually electrical, that are in your home and which you use to do jobs such as cleaning or cooking". The broad usage allows for nearly any device intended for domestic use to be a home appliance, including consumer electronics as well as stoves, refrigerators, toasters and air conditioners. The development of self-contained electric and gas-powered appliances, an American innovation, emerged in the early 20th century. This evolution is linked to the decline of full-time domestic servants and desire to reduce household chores, allowing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fair Trade Law
A fair trade law was a statute in any of various states of the United States that permitted manufacturers the right to specify the minimum retail price of a commodity, a practice known as " price maintenance". Such laws first appeared in 1931 during the Great Depression in the state of California. They were ostensibly intended to protect small businesses to some degree from competition from very large chain stores during a time when small businesses were suffering. Many people objected to this on the grounds that if the manufacturers could set the price, consumers would have to pay more even at large discount stores. The complexity of the market also made the enforcement of these laws almost impractical. As the chain stores became more popular, and bargain prices more common, there was a widespread repeal of the laws in many jurisdictions. By 1975, the laws had been repealed completely. See also * Resale price maintenance Resale price maintenance (RPM) or, occasionally, re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gimbels
Gimbel Brothers (known simply as Gimbels) was an American department store corporation that operated for over a century, from 1842 until 1987. Gimbel patriarch Adam Gimbel opened his first store in Vincennes, Indiana, in 1842. In 1887, the company moved its operations to the Gimbel Brothers Department Store in Milwaukee, Wisconsin. It became a chain when it opened a second, larger store in Philadelphia, Pennsylvania, in 1894, moving its headquarters there. At the urging of future company president Bernard Gimbel, grandson of the founder, the company expanded to New York City in 1910. The company is known for creating the oldest Thanksgiving parade, the Gimbels Thanksgiving Day Parade, originating in 1920 in Philadelphia. Gimbels was also considered the chief rival of Macy's with their feud popularized in American culture. As of 1930, Gimbels had grown to 20 stores, whose sales revenue made it the largest department store chain in the world. The company expanded to a peak of 53 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Macy's
Macy's is an American department store chain founded in 1858 by Rowland Hussey Macy. The first store was located in Manhattan on Sixth Avenue between 13th and 14th Streets, south of the present-day flagship store at Herald Square on West 34th Street that opened in 1902. It expanded beyond the New York metropolitan area by acquisitions and conversions of regional department stores, facilitated by the purchase of Macy's by Federated Department Stores in 1994. It achieved a national footprint with the acquisition of The May Department Stores Company by Federated in 2005, which resulted in the conversion of its department stores to Macy's in 2006 and the renaming of Federated to Macy's, Inc. in 2007. Macy's is also a sister brand to the Bloomingdale's luxury department store chain and Bluemercury beauty store chain. Macy's is the largest department store company by retail sales in the United States, with 94,000 employees and an annual revenue of $25.3 billion . It operates ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
McCrory's
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. Founding The retailer John McCrorey opened his first McCrory store in Scottdale, Pennsylvania, in 1882. By 1885, the J. G. McCrory Company had five stores in Pennsylvania. McCrorey dropped the ''e'' from his last name to avoid paying for extra letters on his store signs. One of his policies was to only pay a reasonable price for store locations. One of McCrorey's early investors was Sebastian Kresge, who later founded the S.S. Kresge chain. This chain would become Kmart in 1962. In 1899, Kresge traded his interest in the Memphis, Tennessee, McCrory store for the Detroit, Michigan, one, giving him control there. In 1915, the J. G. McCrory Company became McCrory Stores Corporation. In 1921, McCrory Stores bec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Korvettes - 1948x
E. J. Korvette, also known as Korvette’s, was an American chain of discount department stores, founded in 1948 in New York City. It was one of the first department stores to challenge the suggested retail price provisions of Resale price maintenance, anti-discounting statutes. Founded by World War II veteran Eugene Ferkauf and his friend, Joe Zwillenberg, E. J. Korvette did much to define the idea of a discount department store. It displaced earlier five and dime retailers and preceded later discount stores, like Walmart, and warehouse clubs such as Costco. The company failed to properly manage its business success, which led to decline and its 1980 bankruptcy and closure. Innovations E.J. Korvette's founder, Eugene Ferkauf, began his discounting career in a loft in Midtown Manhattan, mid-Manhattan, New York City. Inventory consisted of well-known brands of luggage, home appliance, household appliances, and some jewelry. Discounts were one-third off regular prices. Sales w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jack Schwadron
Jack Schwadron (February 10, 1927 – October 11, 2011) was an American businessman in retail. He started at Alexander's Department Store and went on to be president of E.J. Korvette, Klein Department Stores, and Best & Company. He worked closely with Arthur G. Cohen of Arlen Realty & Development Corporation in choosing locations for expansion of stores. Early life Schwadron was the son of Doris and Louis Schwadron, the co-founder of Alexander's. He lived with his first wife, Marilyn (née Hittner), and four children in Great Neck Estates and then moved to King's Point at 152 West Shore Road. In 1948, he graduated from the University of Miami. Career In 1948, Schwadron began work full time at Alexander's, a chain of department stores founded by George Farkas and his father, Louis Schwadron. Jack started off as head of stock in the executive training program, became manager of the department, assistant buyer, merchandising manager of the merchandising department and ge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Business District
A central business district (CBD) is the Commerce, commercial and business center of a city. It contains commercial space and offices, and in larger cities will often be described as a financial district. Geographically, it often coincides with the "city centre" or "downtown". However, these concepts are not necessarily synonymous: many cities have a central ''business'' district located away from its traditional city center, and there may be multiple CBDs within a single urban area. The CBD will often be highly accessible and have a large variety and concentration of specialised goods and services compared to other parts of the city. Midtown Manhattan is the world's largest central business district. In the City of London, the largest concentration of economic output in the world is held there, with many headquarters of major financial and law firms being based in the City. In Chicago, the Chicago Loop is the second-largest central business district in the United States. It is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Suburban
A suburb (more broadly suburban area) is an area within a metropolitan area. They are oftentimes where most of a metropolitan areas jobs are located with some being predominantly residential. They can either be denser or less densely populated than the city and can have a higher or lower rate of detached single family homes than the city as well. Suburbs can have their own political or legal jurisdictions, especially in the United States, but this is not always the case, especially in the United Kingdom, where most suburbs are located within the administrative boundaries of cities. In most English-speaking countries, suburban areas are defined in contrast to central city or inner city areas, but in Australian English and South African English, ''suburb'' has become largely synonymous with what is called a "neighborhood" in the U.S. Due in part to historical trends such as white flight, some suburbs in the United States have a higher population and higher incomes than their nea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
