History of Gordmans
Gordman Stores Inc. 1
Gordmans Stores Inc.
Darnel Campbell
4/8/13
Mgmt 464-02
Gordman Stores Inc. 2
Gordmans stores Inc are an apparel and home fashion retailer. They have apparel available ranging from infant to maternity sizes and also offer many fragrances, Home floral, décor, pillows, furniture, etc. This is what we like to call a department store. Similar to the likes of Dillard’s, Jc Penny, and Marshalls just to name a few; Gordmans is similar if not better than these many department stores yet it did not begin its business as a department store. Since 1915 Sam Richardson a Russian immigrant owned a small retail-clothing store in Omaha, Nebraska. Around 1936 Dan Gordman left the life of car repair and partnered with his soon to be father-in-law (Sam Richardson). In 1948 another store was opened in South Omaha and Dan purchased the store and the remaining of the company, thus the department store was born. Stores were then named Richman Gordman and they expanded quickly adding many locations with centralized checkouts, shopping carts, and self-service shoes. This success lead to a similar chain of stores named the ½ Price Store. With the success of the Richman Gordmans stores and the new ½ Price stores they were able to expand to 16 stores each around Omaha and surrounding areas. In 1993 the company took downward fall going bankrupt and losing everything due to lack of upper management decisions. 1996 became the birth of Gordmans Stores Inc, brought by a later generation Gordman changing the name of all ½ Price stores and Richman Gordmans stores to Gordmans Stores Inc. Three years later thus the first two stores were opened in Tulsa. Just like the Richman Gordman stores, Gordmans stores were failing and Brought by Sun Capital Partners in 2008, they Gordman Stores
Gordmans Stores Inc.
Darnel Campbell
4/8/13
Mgmt 464-02
Gordman Stores Inc. 2
Gordmans stores Inc are an apparel and home fashion retailer. They have apparel available ranging from infant to maternity sizes and also offer many fragrances, Home floral, décor, pillows, furniture, etc. This is what we like to call a department store. Similar to the likes of Dillard’s, Jc Penny, and Marshalls just to name a few; Gordmans is similar if not better than these many department stores yet it did not begin its business as a department store. Since 1915 Sam Richardson a Russian immigrant owned a small retail-clothing store in Omaha, Nebraska. Around 1936 Dan Gordman left the life of car repair and partnered with his soon to be father-in-law (Sam Richardson). In 1948 another store was opened in South Omaha and Dan purchased the store and the remaining of the company, thus the department store was born. Stores were then named Richman Gordman and they expanded quickly adding many locations with centralized checkouts, shopping carts, and self-service shoes. This success lead to a similar chain of stores named the ½ Price Store. With the success of the Richman Gordmans stores and the new ½ Price stores they were able to expand to 16 stores each around Omaha and surrounding areas. In 1993 the company took downward fall going bankrupt and losing everything due to lack of upper management decisions. 1996 became the birth of Gordmans Stores Inc, brought by a later generation Gordman changing the name of all ½ Price stores and Richman Gordmans stores to Gordmans Stores Inc. Three years later thus the first two stores were opened in Tulsa. Just like the Richman Gordman stores, Gordmans stores were failing and Brought by Sun Capital Partners in 2008, they Gordman Stores
References: John R. Conway (Feb. 6, 2013). Gordmans: More Downside Or Is The Stock Bottoming Out? Retrieved From http://seekingalpha.com/article/1161851-gordmans-more-downside-or-is-the-stock-bottoming-out Gordmans website. Company History, Retrieved from http://www.gordmans.com/AboutUs/CompanyHistory/Index.htm#.UWLfThz22Ts Gordmans Inc. (September 18, 2008). Company Poised for Expansion. Retrieved from http://investor.gordmans.com/releasedetail.cfm?ReleaseID=490437