Circuit City Business Failure

Rite Aid history starts in 1958 with Alex Grass with Rack Rite Distributors Inc.as a subsidiary of Lehrman & Sons. In 1962 they opened up their first store as “Thrift D Discount Center” in Scranton, Pennsylvania offering beauty care and pharmaceutical items: “Thrift D Discount Center” far exceeded revenue expectations. The next few years the stores expanded, “Thrift D Discount Center” was also renamed “Rite Aid Corp.” in 1968 and opened publicly in the New Your Stock Exchange in 1970 (Central Penn Business Journal, 2010). By 1983 Rite Aid reached a benchmark of $1 billion in sales and under Martin Grass, Chairman and CEO,

Corporations booming affected the Americans in different ways. The industrialized cities begin to attract more people. Urban transportations were improving and this led to the making of department stores. Document I talks about a novel where a woman talks about the department stores in a city. How department stores were the most effective retail organisation. how

Well, if one believes what some are saying on Facebook, then yes. However, the Menomonee Falls, Wis.-based retailer only announced it planned to close 18 underperforming stores this year when it released its first quarter earnings Thursday. “The specific locations will be announced by the end of March.”

Newsfront (1978) is about the commencement of Australian television. It notions the changing times; the context before the television was a household object.

Since 1962 and the beginning of the discount retailer market Wal-Mart has been ahead of the retail game. By 1967 there were 24 Wal-Marts that had grossed 12.6 million dollars. In just 7 years Wal-mart had spread into 9 states. By 1979 Wal-Mart was the fastest store to reach a billion dollars in sales. In 2005 Wal-Mart has 3,800 domestic stores along with 3,800 stores internationally, and had made over 312 billion dollars. As you can see the Wal-Mart empire has grown monumentally. To move into this segment of the market would be tough.

From 2002 to 2005, Walgreens reported a compounded annual growth rate of 10.1%, growing to $42.2 billion in total revenues. This strong revenue growth was primary driven by organic expansion through new store openings. Since 2002, Walgreens has added 1070 net new stores (22% increase) while CVS has added 1,384 net new stores (25% increase), of which 86%, or 1200 of CVS' store additions, were due to the 2004 acquisition of Eckerd. As a result, although CVS reported an impressive 21% increase in sales from 2004 to 2005 compared to Walgreens 12.5% (a decline from 15.3% in 2003 to 2004), it was primarily due to CVS experiencing the full effect of the mid-2004 acquisition of the 1200 Eckerd stores. Table 3 shows the year-over-year comparison of Walgreens total revenues to CVS'.

Background Information on RadioShack Radio shack on the other hand was established in 1919 in Fort Worth, Texas. Two brothers, Theodore and Milton Deutschmann, opened the first retail store in the heart of downtown Boston. RadioShack has formed strategic alliances with some of the best known and most trusted brands in the consumer electronics and computer industries - including Compaq, RCA, Sprint and Verizon Wireless. They have positioned themselves for consistent and sustained growth. In just over five years, RadioShack has essentially "reinvented" itself into an innovative company that is, with each passing year, moving further from a traditional retailer to a leading-edge growth company.

Circuit City officially closed its doors on March 31, 2009 and over 40,000 employees lost their jobs. Through thorough research and having experience working at the

I find it interesting that you mention Fry’s electronic store Fry’s have an interesting story. Fry’s is similar to Circuit City and The Good Guys which where traditional brick and mortar business that went out of businesses in the mid 2000. Fry’s was originally a supermarket the founder and owner was Charles Fry who sold the store for 14 million dollars. Reportedly Charles Fry gave 1 million dollars to each of his sons who later decided to venture into electronics. According to research there still remains a Fry’s food and drug store that is owned by Kroger however they are not affiliated with the electronic store although they have a similar logo. Although, Fry’s was first started in California it is not as popular as Best Buy in the state

According to Rite-Aid history, the federal legislation in 1962 had a fixed minimum retail pricing on products in the retail industry. In 1962, Alex Grass, Rite-Aid’s founder and CEO, has opened the first discount drugstore in Scranton, PA under the name Thrif D Discount Center. By 1965, their company has expanded quickly by opening five new locations in the Northeast. Around 1968, Rite-Aid corporation became official with the company’s first public offering the American Stock Exchange, then by the 70’s they had moved to the New York Stock Exchange. With multiple acquisitions with smaller regional chains in the Northeast, Rite-Aid grew to over 267 stores in ten states within a decade. Even the middle east oil embargo and slow economic growth the persistent recession of the mid 70’s had slowed the company’s momentum. By 1981, the company became the third largest retail pharmacy in the nation. They surpassed the $1 billion sales mark.

American retailer Kohl’s has become a prevalent fixture for the purchase of discounted clothing and home goods in the mid-west for over twenty-five years. The history of the company however has roots much more modest than present day market dominance would suggest. Dating back to a Wisconsin supermarket in 1946, founder Max Kohl grew his small business to the most successful chain of supermarkets in the Milwaukee area (12). By 1962 Kohl opened his first department store in Brookfield, Wisconsin where an eclectic selection of merchandise, from sporting goods, motor oil and candy, was sold (11). In 1972, the Kohl’s Company which by then consisted of 50 grocery stores, six department stores, three drug

1971 to over 800 stores located in 46 states and Puerto Rico. This industry is

Kmart is a huge vintage company that had peeked at one time and now is

Costco started from a single store in Seattle in 1983 to become one of the largest multinational warehouses chain. The story of Costco begins with the exemplary leadership from the co-founders, James Sinegal and Jeffrey Brotman. The cofounders launched Costco with the idea of having a high volume of inventory which they could sell for low cost. In order to provide their items at low cost and also pay their employees well to keep them motivated, Sinegal and Brotman concocted a brilliant idea. The idea was to use the warehouse as itself, meaning that concrete floors, fluorescent lights, and pallets of merchandise are all essential to keep price low and customer happy. Although it does not look visually appealing, the

Root Capital headquarters are located in the USA and the charity operates from 7 offices in Costa Rica, Kenya, Mexico, Guatemala, Nicaragua, Senegal and Uganda.