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For example, Sears, the largest retailer in the world at the time, operated a store across the street from Caldor's second outlet. People familiar with Long Island real estate say commercial rates vary considerably there - from about $5 a square foot to $22 a square foot - depending on the store's location, age and condition, and whether it is in a shopping center. As consumers, we often take for granted all the hard work that goes into building a great company. In cases where the Caldor stores in his company's centers are taken over by a new retailer at a rent that ''is out-of step with today's market,'' he said, there is room to renegotiate certain aspects of the lease that pertain, for example, to rents based on sales volume. Yes, Throwing These Items Away Is Illegal In Massachusetts, MA Residents: This Venue is Worth The Trip Across the Border, In Massachusetts, Its Illegal to Carry Any Kind of These Your Truck Bed. Discount shopping baby! Korvettes. Records. To support its growth plans, Caldor constructed a 508,000-square-foot distribution facility in New York and began the installation of a major computer information support system, which went on line in 1993. Landlords with stores in less than prime spots ''will have to become creative and come up with adaptive reuses,'' he added. Despite hefty capital expenditures, improved earnings allowed Caldor to steadily shave its long term debt load from about $350 million in 1989 to $272 million by 1993. Caldor, he added, is considering leasing more Long Island stores as well. They will be added to the six stores Kohl's already has in the state. His acute knowledge of Caldor's inventory and buying systems, combined with his knack for dealing with vendors, eventually earned him the title of vice-president of the company. Lechmere. Long Island is roughly comparable.''. In that Boston accent, I used to hear my mother say to me, we're heading up the mall, going to JAW-DEN MAHSH. They were the first to offer credit in the form of a charge account, as well. each image on the page has its own license. HQ to the RESCUE! Heres the Best Time for Corn on the Cob in Massachusetts, Submit Your Photo Now for Live 95.9s Mother and Child Look-A-Like Contest 2023, The Berkshires is Home to 2 of the Most Picturesque Towns in Massachusetts, The Tallest Waterfall in Massachusetts is Right Here in the Berkshires, Five of the Most Delicious Celebrity-Owned Restaurants in Massachusetts. WebList of current Caldor locations Edit Contents 1 New Jersey 2 New York 3 Pennsylvania 4 While some discount giants have marked time or suffered losses during the recession, Caldor has not only remained financially secure but has also steadily expanded in the Northeast. ''We've done very well in the Westchester County-Hudson Valley area. During the same period, ADG continued to expand through other retail holdings, such as Loehmann's, a department store retail chain. Caldor, which is owned by the Associated Dry Goods Corporation, the department store holding company, has thrived by selling brand-name quality merchandise at discount prices to customers of middle to upper incomes. Just one, a Levin property in West Orange, is in the state. In 1992, in fact, Caldor outbid other retailers to take control of six New York City stores that were being dumped by Alexander's, another retailer. Indeed, as consumers became aware of the improvements, Caldor's sales and profits escalated. In addition, Eugene Ferkhauf had started his chain of Korvette discount stores just a few years earlier. WebCaldor, California. Toys "" Us; Woburn, MA Toys "" Us; Woburn, Massachusetts. Doc Martens. Through its chain of Caldor discount stores, the company sold nearly $2.5 billion worth of goods and employed a work force of more than 20,000 in 1994. THE CALDOR RAINBOW Our Photos On Flickr XISMZERO Sub-Administrators Expert Member Posts: 1,649 Location: Farmington, Connecticut Logged #1210 November 05, 2007, 12:29:15 PM Update: former Caldor in Groton, CT. In addition, the chain's product mix had become unwieldy, and its signing and display techniques were considered poor in relation to its competition. We want to help you find great companies. Manic panic hair dye. Clarke and Balmuth used those proceeds to launch an ambitious store remodeling plan that they had started in 1989, as well as to begin expanding the chain again. But let's be real, we can't guarantee that everything we sell is 100% accurate, reliable, or suitable for your needs. [1] It operated from a headquarters located in North Billerica, Massachusetts. Listen up, folks! Comic books. To obtain road distance you can select route planner. The first choice would be to lease the space to a single user or to two smaller anchors and ''fill in everything else from there,'' he said, noting that the alternative was to carve up the space for multiple smaller uses. The large finger of fire east of Highway 89 grew at least 3.5 miles past the highway. ''In some ways the Island has acted as if there's been no national recession,'' Mr. Koppelman said. From New Hampshire . The place is catalogued as Locale by the U.S. Board on Geographic Names and its elevation above sea level is equal to 397ft. Caldor Fire map at 9:30 a.m. Aug. 31, 2021. Many of the home-improvement chain's 53 stores, 40 of them in New Jersey, were taken over by Staples, the office-supply store, said Mr. Schnurr, whose firm handled the disposition of the Rickel stores. They envisioned a business that would emphasize quality of merchandise over less desirable, lower cost wares at prices 10 to 40 percent below the manufacturers' suggested list p Critics cited ADG's failure to market to young families. ''Because of the booming economy along with the fact that many Caldor stores are in prime locations, very few are expected to be hurt,'' said Ted Kraus, who heads TKO Real Estate Advisory Group, a retail consulting firm in Mercerville. While Caldor's growth during the early 1980s seemed impressive, ADG failed to profit from the acquisition as it had hoped, and Caldor became a drag on its bottom line. There are 74 Caldor outlets in Connecticut, New Hampshire, Massachusetts and New York. Grant and E.J. ''Long Island is great for our upscale discount market,'' Mr. Kuller declared. IN recent years Caldor Inc., the discount retailer based in Norwalk, Conn., has emerged as one of the country's soundest merchandising chains. 5. May had increased Caldor's earnings by more than 300 percent since 1986 and had gone a long way toward improving the competitiveness of the discounter. Under bankruptcy laws, bidders for the company would be able to assume the leases at the same rents Caldor was paying, which may be significantly below today's rents since many of the leases were negotiated years ago. Under the control and financial backing of ADG, Caldor expanded at a rate of more than 20 new stores annually between 1981 and 1985. Taking over the Caldor leases is a logical move ''and allows us to enter the New York metropolitan area with a critical mass of stores,'' he said. All rights reserved. Discount retailer Caldor announced Tuesday it will close 12 stores in an effort to refocus business in key markets. Instead, May wanted to concentrate on improving the financial performance of the chain. Over the years Levin worked through the bankruptcies of W.T. Going into 1995, Caldor was operating 158 stores in ten northeastern and mid-atlantic states. Contents 1 And Kmart, of Troy, Mich., put in a bid for 11 stores. Stores in choice locations -- in densely populated areas with strong demographics and next to and visible from major highways -- will be snapped up quickly, said Mr. Schnurr of Grubb & Ellis. Our entrance is up the hill on the right. During 1992, Caldor added a total of eight new stores to its chain, bringing its total to 136. The bidding for the leases, analysts said, is likely to continue for another two months and may bring in more bids from the same players or new ones from other retailers. That year, ADG acquired Caldor, and, although Caldor lost its independence, Bennett was retained under a five-year management contract, as were several other executives, including Kirby. Caldor is aware of demographic statistics that define Nassau and Suffolk Counties on Long Island as among the most affluent in the metropolitan area. BJ's Wholesale Club came out of Zayre Corp. A major U.S. retail powerhouse headquartered in the Midwest, May Department Stores had a reputation as an aggressive, profitable retailer. Stanley Schuckman of the Schuckman Realty Company in Jericho, L.I., helped Caldor lease the Riverhead, Rocky Point and Ronkonkoma stores. Which location? That venture became hugely successful and elevated Ferkhauf to star status in the industry. Don't tell anyone since you shouldn't buy stuff from an out-of-business store. All rights reserved. That trend was intensified by a slowdown in consumer spending during the U.S. economic recession of the late 1970s and early 1980s. Late last month Kohl's received approval from the bankruptcy court to buy for $142 million the leases of 33 Caldor stores. Take I-93 S toward Manchester/Boston to exit 37B and merge onto I-95 S. Take exit 25 toward Interstate Named after a ship that was lost somewhere off Block Island in RI in 1806, Ann & Hope became quite a popular like a modern day Kohl's in '70s and '80s. The one in Salem used to have an awesome Chinese place next to it. This place just screams of 1987. Accessories. For example, the firm puts the rents for stores of 70,000 to 100,000 square feet for stores in good locations at $10 to $13 a square foot, up about $1 from last year. Coordinates: 383622N 1202558W. Last year Filene's of Boston opened three of its Filene's Basement stores on Long Island, and it plans to open one in Queens soon. ONE negative, added Mr. Kraus of TKO, is what will happen once new retailers take over the Caldor stores. The future of the stores in those centers will signal what impact, if any, Caldor's bankruptcy will have on the state's retail market, and on landlords like Levin. ''Some merchants who survived because Caldor was a weak competitor will need to work more aggressively or lose out to the new competition,'' he said. Ann & Hope. Unlike some other discount chains, Caldor had remained focused on a few key markets on the East Coast, where its name recognition had maximum impact. Projections are that it will remain so at least through the end of the year. In cases where the stores are on two stories or have a basement level, he said his firm would do what it had done many times before: lease that space to complementary uses like health clubs or day care centers. Opening in 1984 and closing in 1999, I just remember this place as Home Depot junior. Earlier orders covered communities between Highway 50 and Highway 88, including Sly Park, Grizzly Flats, Happy Valley, Leoni Meadows and Caldor. Despite its early entrance into the retail discount store industry, Caldor faced stiff competition from both old and new competitors. At the same, time Wal-Mart, the nation's largest retailer, which is based in Bentonville, Ark., was given the green light to buy 12 store leases for $75 million, none in New Jersey. Caldor. See the article in its original context from. Discount stores, in particular, benefitted, as consumers began to recognize the cost benefits associated with economies of scale. Levin intends to repeat that plan at its 400,000-square-foot Watchung Center, which is anchored by a 138,000-square-foot Caldor store. Caldor was launched in 1951 by husband and wife team Carl and Dorothy Bennett; they coined the name "Caldor" by combining both of their first names. "CCaldor Opens Stores in Hamilton, Bristol," Trentonian, January 28, 1993. Cooper, Jeanne Dugan, "Attn: K Mart Execs: Caldor Opens New Long Island Store," Newsday, July 27, 1990, p. (121mt.). In the Region / New Jersey; As Caldor Fades, Retail Market Is Unfazed, https://www.nytimes.com/1999/03/07/realestate/in-the-region-new-jersey-as-caldor-fades-retail-market-is-unfazed.html. ''We had been looking at the Long island market for some years, and the opportunity presented itself to take a package of stores and enter the community in a coherent fashion.'' Anyone can read what you share. ''The rent may seem slightly below market,'' he said, ''when compared with that for a brand-new building.'' Computerized systems were implemented to improve efficiency, and electronic scanning guns were installed at all of Caldor's registers. They reduced the number of managers in each store and used the payroll reductions to lower prices. The Berkshire Mall had one when it opened in 1988. Named after a ship that was lost somewhere off Block Island in RI in 1806, Ann & Hope became quite a popular like a modern day Kohl'sin '70s and '80s. [1]The distances indicated are measured in a straight line, the road distances can be appreciably different. The original enterprise consisted of a single tiny store for three years before a second small shop was added, marking the start of a chain expansion that would blanket the Northeast by the 1990s. TimesMachine is an exclusive benefit for home delivery and digital subscribers. Kirby and Bennett worked well together. By 1981, Bennett and his team had built Caldor into a major regional discount retail powerhouse on the East Coast. More. 4. The shopping centers are Bridgehampton Plaza in Bridgehampton, the former Woolco Plaza in East Patchogue (to be renamed Caldor Plaza), Riverhead Plaza in Riverhead, the newly named Caldor Plaza in Ronkonkoma and Point Plaza in Rocky Point. In 1951, while shopping at an E. J. Korvette store in New York City, newlyweds Carl and Dorothy Bennett were inspired to open their own discount store that would be different from the average postwar discount retailer. https://www.nytimes.com/1983/03/09/business/real-estate-caldor-s-expansion-onto-li.html. ''We've been expanding into the mid-Atlantic region over the last two years,'' said Gary Vasques, executive vice president of marketing at Kohl's. If the leases of the other three stores are not taken over by other retailers, Mr. Farber said the space would be reconfigured for new users. CDs! Two of its stores -- one on Route 4 West in Paramus, the other on Route 22 in Watchung -- are already spoken for by Kohl's, a discount department store chain based in Menomonee Falls, Wis., which is looking to build its presence in the New York metropolitan area. There's a confirmed Caldor label scar still on the building! WebCALDOR TO CLOSE DOORS Queensbury, New York Middletown and Newburgh, New York Probably not, because all cigarette smoke smells the same . During 1986, Clarke liquidated Caldor's bloated inventory--at a cost of $30 million--and began to reestablish a profitable mix of goods. Lee Koppelman, executive director of the Long Island Regional Planning Board, said, ''This area is a good retail market.'' Finally, we can read about how these great companies came about with Company Histories.. Ann & Hope Facebook. Webjust a place to find old friends that worked in the Taunton store. Attracted to the company's growth potential and low debt, Associated Dry Goods (ADG) made a bid for Caldor in 1981. So, if you decide to take a chance on us (even though we don't recommend it), just know that you're taking a risk, and it's all on you. This is a digitized version of an article from The Timess print archive, before the start of online publication in 1996. In light of proliferating competition and general disenchantment with its discount operations, May decided to sell its discount chains in 1989 and to focus its energies entirely on its department stores. MR. FARBER said that was the plan at the Paramus center, a 270,000-square-foot community shopping strip anchored by a 130,000-square-foot Caldor store. The Caldor stores at Levin's other three centers are still up for grabs and Mr. Farber said his firm would be just as pleased if it got back those leases. St. James Press, 1996. Caldor's New York stores have been confined to Westchester County and the Hudson Valley, but now the 32-year-old enterprise is about to move onto Long Island. Our products and services are meant to inspire you and maybe even make you laugh a little. "Where Service Is State of the Art". Changes achieved during the late 1980s significantly improved Caldor's performance. ''History has shown that retailers have a limited life span, but as long as the location is viable and the economics are sound, life for the real estate goes on,'' Mr. Farber said. Furthermore, Odyssey Partners was able to reduce its large debt load in 1991 through a public stock offering. Finally, Clarke and Balmuth made plans to increase the average size of the stores and changed the Caldor logo and color schemes. Discount giants Kmart and Wal-Mart, for instance, both began aggressively vying for market share in Caldor's traditional stomping grounds. The chain consisted of 63 stores, all of them much larger than the original 1,000-plus square foot outlets, and Caldor's revenues were approaching $700 million annually. The 27-year-old Kirby knew that he was taking a huge risk by leaving his safe job--the chain was owned by Kirby's relatives--but he had a good feeling about Bennett and the new discount store concept. During 1988, Caldor added only three new stores, bringing its total to 119. That, in turn, may ''slow development in the state, keeping supply in balance with demand,'' he said. Clarke planned to step up expansion with the addition of 100 new stores by 1999, as well as to complete the renovation of all of its existing outlets. They became vacant last fall when the F.W. "We'd run double-truck ads; customers would come and say, 'where's the rest of the store,"' Kirby recalled in the February 18, 1985 Discount Store News, stating that "If I had a brother I wouldn't have worked as hard as I did for Carl.". Let's make this a fun and wonderful place to shop, buy some gifts, and enjoy the ride. ''It is way for growing companies to get into a tight market in a much quicker and less expensive way '' said Mr. Schultz. There is a public Facebook group, Caldor store #69 Taunton, ma, where Its major holdings included Famous Barr, a chain of upscale department stores, and Venture, a retail discount chain similar to Caldor in both size and market positioning. Still, Caldor's problems proved greater than May had anticipated, and income growth was slower than expected. Clarke and Balmuth remained at the helm and continued to pursue a strategy of slow growth, while implementing new internal changes designed to add value to the company. Mr. Kuller declined to disclose details of the leases. The 1960s and 1970s were good years for Caldor. for 24 months Today $0.00 The centers are in Paramus, West Orange, Woodbridge, Watchung and North Brunswick. ''We have more people with more disposable income than other areas. Copyright (c) 2022 Company-Histories.com. I bought my first boom box CD player with MEGA BASS from Circuit City in 1993. My mother's favorite! Photo from SiteRide, taken mid-to-late 1990's. This was the first Connecticut store. For more on Caldor, look into these other studies and photo galleries. Always worth plugging our ever-resourceful buddy, Chris Fontaine and his outstanding Ames Fan Club. '', See the article in its original context from. The centers are in Paramus, West Orange, Woodbridge, Watchung and North Brunswick. As a subscriber, you have 10 gift articles to give each month. Keep scrolling to see if you can guess which icon belongs to which brand. Caldor 370 Western Ave Brighton MA 02135. then turn left onto Caldor Rd. Take I-90E/MA Turnpike to Exit 13 for MA-30 W/Cochituate Rd. The Caldor Shopping Center is located in Hampshire County, Massachusetts, United States. WebIt remained focused on the East Coast, opening outlets in New York, Connecticut, They revamped Caldor's pricing system, for example, by instituting a two-tier pricing system that helped to reduce overall mark-ups by about two percent. . WHEN Caldor, the discount-store chain, announced in January that it was closing its 145 stores, including 28 in New Jersey, William A. Farber was struck by a sense of deja vu. I remember when my mother would pull into the "Child World" parking lot in Saugus, I wanted to buy the ENTIRE store. There are 74 Caldor outlets in Connecticut, New Hampshire, Massachusetts and New York. Bennett carpooled to work in the early days with Luke Kirby, Jr., the fourth employee hired at the new store. ADG, a diversified conglomerate, was already active in the upscale retail sector through other retail holdings, such as its chain of Lord and Taylor stores, and it sought to round out its retail portfolio with a discount chain like Caldor. It remained focused on the East Coast, opening outlets in New York, Connecticut, Massachusetts, and New Jersey, among other states. WebThe Caldor Rainbow By: The Caldor Rainbow. How well do you know the logos of 50 of the world's most famous companies? By the early 1980s, however, the retail discount industry was becomingly increasingly competitive and, therefore, consolidated. It's funny to walk down memory lane, though! Caldor (previously Dogtown) Despite the recession, revenues jumped more than five percent in both 1990 and 1991 before rising more than ten percent during 1992. WebThis is a list of former Caldor locations in the USA Store Fanon universe. In fact, Korvette had served as an impetus for the Bennetts and even helped to pave the way for other discount retailers. But he added that the company was spending a lot to renovate the stores. To preserve these articles as they originally appeared, The Times does not alter, edit or update them.
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