"with its big red sign and white lettering... once a nearly ubiquitous presence in the New York metropolitan area, particularly in low-income sections. It grazed the low end of retailing... paying cheap rent for locations few other retailers wanted... buying merchandise that could be startlingly inexpensive, often because the manufacturer had overestimated demand."
There were 527 John's Bargain Stores in the Northeast and in Puerto Rico at its zenith in the mid-1960s.[2] Between 1961 and 1965 the chain earned $1,000,000 per year or more in profits each year. However, in 1966 they ran a $523,947 (~$3.39 million in 2021) loss. Shoplifting was a problem, among others. John's had an average 32% markup on its goods, versus an average of 40% across its competitors. By September 1967, bankruptcy had been declared, there were 474 stores with sales of $62 million (~$390 million in 2021), and about 200 of the stores operated at a loss. The company had $15,788,291 in assets and $11,659,444 in debt.[1]
Referencesedit
^ ab"Pilferage in High at John's Stores". New York Times. September 7, 1967. pp. 81, 85. Retrieved June 22, 2020.
^ abMartin, Douglas (1 June 2002). "David Cohen Is Dead at 80; Led Chain of Bargain Stores". The New York Times.
^"John's Bargain Store (John's, 512 E. 14th St. between Ave. A and Ave. B (1986))". 14to42.net. Retrieved 4 September 2016.
"Everybody's Far-Out Bargain Store", Business Week, May 25, 1963, p. 110
"Nothing But Bargains", Fortune, August 1960, p. 153
November 11, 2023
john, bargain, store, chain, variety, stores, northeast, midwest, united, states, founded, 1955, industryretailheadquartersunited, statesthe, stores, were, according, york, times, with, sign, white, lettering, once, nearly, ubiquitous, presence, york, metropol. John s Bargain Store was a chain of variety stores in the Northeast and Midwest of the United States It was founded in 1955 1 John s Bargain StoreIndustryRetailHeadquartersUnited StatesThe stores were according to the New York Times 2 3 with its big red sign and white lettering once a nearly ubiquitous presence in the New York metropolitan area particularly in low income sections It grazed the low end of retailing paying cheap rent for locations few other retailers wanted buying merchandise that could be startlingly inexpensive often because the manufacturer had overestimated demand There were 527 John s Bargain Stores in the Northeast and in Puerto Rico at its zenith in the mid 1960s 2 Between 1961 and 1965 the chain earned 1 000 000 per year or more in profits each year However in 1966 they ran a 523 947 3 39 million in 2021 loss Shoplifting was a problem among others John s had an average 32 markup on its goods versus an average of 40 across its competitors By September 1967 bankruptcy had been declared there were 474 stores with sales of 62 million 390 million in 2021 and about 200 of the stores operated at a loss The company had 15 788 291 in assets and 11 659 444 in debt 1 References edit a b Pilferage in High at John s Stores New York Times September 7 1967 pp 81 85 Retrieved June 22 2020 a b Martin Douglas 1 June 2002 David Cohen Is Dead at 80 Led Chain of Bargain Stores The New York Times John s Bargain Store John s 512 E 14th St between Ave A and Ave B 1986 14to42 net Retrieved 4 September 2016 Everybody s Far Out Bargain Store Business Week May 25 1963 p 110 Nothing But Bargains Fortune August 1960 p 153 Retrieved from https en wikipedia org w index php title John 27s Bargain Store amp oldid 1174685850, wikipedia, wiki, book, books, library,
