The Bon-Ton
From Wikipedia, the free encyclopedia
| The Bon-Ton Stores, Inc. | |
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| Type | Public (NASDAQ: BONT) |
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| Founded | 1898 |
| Headquarters | York, Pennsylvania |
| Industry | Retail |
| Products | Clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares. |
| Website | http://www.bonton.com/ |
The Bon-Ton Stores, Inc. (NASDAQ: BONT) is a regional department store company based in York, Pennsylvania, chiefly operating 268 department stores in 23 states throughout the northern United States under its namesake nameplate, as well as those of Elder-Beerman, Carson Pirie Scott, Younkers, Herberger's, Bergner's and Boston Store. Additionally, 8 furniture stores (with a ninth under construction) are operated by the corporation in select markets.
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[edit] History
[edit] Beginnings
The Bon-Ton was started in 1898, when Max Grumbacher and his father, Samuel, opened S. Grumbacher & Son, a one-room millinery and dry goods store on Market Street in York, Pennsylvania. From the beginning, according to company material, the Grumbachers operated their business "with a close attention to detail and a conviction that business success would come to those who offered customers quality merchandise at a fair price with careful attention to their individual needs and wants."
As automobiles replaced horses and the country became more industrialized, through World War I and the Roaring Twenties, the Grumbachers continued to meet their customers' needs. The store grew bigger and, in 1929, the company was incorporated as S. Grumbacher & Son, Inc. In 1931, Max's son, Max Samuel (M.S.), joined the company. When Max the elder died in 1933, his widow, Daisy, and their two sons, M.S. and Richard, continued the business, forming a partnership in 1936. Following World War II, the family decided to expand operations. In 1946 a second Bon-Ton was opened, in Hanover, Pennsylvania. Two years later, the company moved outside Pennsylvania, acquiring Eyerly's in Hagerstown, Maryland, and in 1957 purchasing McMeen's in Lewistown, Pennsylvania. These early moves set Bon-Ton's policy of growing into adjacent areas by opening new stores and acquiring existing businesses.
[edit] Early Expansion
During the next three decades, The Bon-Ton Stores continued to expand. In 1961, M.S.'s son, M. Thomas "Tim," entered the business, representing the fourth generation of Grumbachers. During the 1960s, the company opened new Eyerly's and Bon-Ton stores in several Pennsylvania communities and one in West Virginia. They also started a discount chain, Mailman's, and, in 1969, retired the McMeen's name. During the 1970s, as the popularity of shopping centers began to grow, Bon-Ton opened 11 new stores in Pennsylvania and West Virginia.
The 1980s formed a period of rapid consolidation in the retail department store industry as major chains bought their competitors. The Bon-Ton Stores began the decade by opening more stores, establishing a new division, Maxwell's, and acquiring Fowler's department store in New York. When Tim Grumbacher was made CEO in 1985, the company operated 18 stores in four states. Two years later the company made a major move, buying the 11-store Pomeroy's chain from Allied Department Stores. That purchase made it possible for the company to move into seven new markets in Pennsylvania.
[edit] 2006 Acquisitions
Bergner's, Boston Store, Carson Pirie Scott, Herberger's, and Younkers officially joined the corporation on March 6, 2006, following a completed acquisition of Saks Incorporated's Northern Department Store Group (NDSG). The 142 stores, operating under those five names, retain their nameplates under the new ownership. [1] The buying, private brand product development and marketing functions for the company were consolidated into the NDSG's Corporate offices in Milwaukee, Wisconsin. Finance, legal and IT functions for all locations were consolidated into the Bon-Ton's corporate offices in York, Pennsylvania.
In October 2006, Bon-Ton purchased four existing Parisian stores from Belk, as well as rights for construction on a fifth store. [2] These stores are:
Indiana
Michigan
- Clinton Township, Michigan - The Mall at Partridge Creek (under construction)
- Livonia, Michigan - Laurel Park Place
- Rochester Hills, Michigan - Village of Rochester Hills
Ohio
The Indiana store was converted to a Carson Pirie Scott location in February 2007, while the Ohio store was converted to a second Elder-Beerman store in its mall. The three Michigan locations, however, will all retain the Parisian name.[1]
[edit] Locations
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136,500 sq.ft. (Opened 1987)
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[edit] Former Locations
[edit] Georgia
- Rome - Riverbend Mall (originally Miller's, later Hess's, converted to Bon-Ton in 1994, closed shortly afterward. Mall torn down)
[edit] New Jersey
[edit] New York
- Cortland- Cortlandville Mall (former Chappell's; now Wal-Mart)
- Cheektowaga - Walden Galleria (150,000 square feet; opened 1994, closed 2006; torn down for Regal Cinemas)
- Clay - Great Northern Mall (opened as Addis & Dey's, later Chappell's, then Bon-Ton, closed 2006, to become JCPenney)
- Dewitt - Shoppingtown Mall (70,100 sq.ft.; opened 1985 as Chappell's, converted to Bon-Ton in 1994; closed 2006, now empty)
[edit] Pennsylvania
- Bensalem - Neshaminy Mall (originally Lit Brothers, later Pomeroy's) (185,000 sq. ft; opened 1987)
- Lebanon - Lebanon Plaza Mall (53,700 sq.ft; opened 1994)
- Lewistown - Central Business District (46,700 sq.ft.; Opened 1972)
- Pottsown - Coventry Mall (88,300 sq.ft.; opened 1999 in former JCPenney. Now Kohl's)
- Scranton - Keyser Oak Plaza (57,600 sq.ft; opened 1980)
- Wilkes Barre - Midway Shopping Center (66,000 sq.ft.; opened 1987 in former Pomeroy's)
