Ocean State Job Lot Explained

Ocean State Job Lot
Type:Private
Foundation:1977
Founder:Marc Perlman, Alan Perlman, Roy Dubs
Location City:North Kingstown, Rhode Island
Locations:153[1]
Area Served:New England, New York, New Jersey and Pennsylvania
Key People:Marc Perlman, Alan Perlman, Steve Aronow
Industry:Discount retail
Products:Gifts, Housewares, Food, Flooring, Books, Toys, Hardware, Electronics, Clothing, Lawn and Garden, Health and Beauty, Sporting Goods, Pet Supplies, Automotive, Seasonal
Brands:Various
Revenue:$700M
Owner:Ocean State Jobbers, Inc.[2]
Num Employees:5,600[3]
Subsid:Unknown restaurants

Ocean State Job Lot (abbreviation: OSJL or simply Job Lot) is an northeastern American chain of discount closeout retailers founded in Rhode Island in 1977. In addition to its origin state, it operates stores throughout the Northeastern United States, including Connecticut, Massachusetts, Pennsylvania, New Hampshire, Vermont, Maine, New York, and New Jersey. The company is headquartered in North Kingstown, Rhode Island.

Etymology

The name of the company derives from Rhode Island's nickname, "The Ocean State", and from "Job Lot", which means a miscellaneous group of articles.

Description

Founded by Marc Perlman, Alan Perlman, and Roy Dubs in 1977 as a single store, it currently operates 145 stores in the US and has more than 5,600 associates. Its selection of merchandise comprises a variety of discounted household goods, apparel, pet supplies, kitchen pantry staples, and seasonal products (holiday, gardening, patio, pool and beach supplies); a majority of these items are unsold and/or excess merchandise purchased in bulk from other retailers such as Walmart, Publix, or Target that are then sold at deeply discounted prices.[4]

Ocean State Job Lot was founded in 1977 in North Kingstown, Rhode Island, by Marc Perlman, Alan Perlman, and Roy Dubs.After Ames went bankrupt in 2002, Ocean State Job Lot expanded by buying many of its former locations in New England.[5] [6] [7] In 2017, 2018, and 2020, the company was on the Forbes's list of “America's Best Midsize Employers”.[8] [9] [10] In 2017, the company completed a 500000square feet expansion of its warehouse in North Kingstown, making it the building with the largest footprint in Rhode Island with a total of .[11] As of 2018, the company generated nearly $700 million in annual sales. Most recently in 2019, the company expanded into Pennsylvania by acquiring former Toys "R" Us locations.[12] [13] [14]

Operations and business model

Ocean State Job Lot is a family-run privately-held business with its corporate headquarters and distribution center in North Kingstown, RI at Quonset Point.[15] During its expansion, the company has revitalized numerous commercial spaces and shopping plazas throughout the Northeast by acquiring vacant properties once occupied by other retailers.[16] [17] [18] OSJL's business model involves purchasing merchandise directly from manufacturers and other retailers such Walmart/Sam's Club, Publix, Winn-Dixie, Kroger, Costco, Whole Foods Market, TJX-owned stores, and Target in bulk and selling in smaller quantities to customers with the minimum operational and distribution costs. The merchandise selection consists of a variety of manufacturer's overruns, overstocks and packaging changes, as well as selected other products. The company is especially focused on buying and selling closeouts.[19] [20] It is also affiliated with the import and distribution company Yankee Trader, LLC.

OSJL Charitable Foundation

The Ocean State Job Lot Charitable Foundation was founded in 2004.[21] Through the charity, the company claims to support a number of philanthropic causes including Israel,[22] feeding the hungry, helping the homeless, assisting veterans and military families,[23] aiding animal rescue, caring for children, advancing healthcare, supporting the arts, and promoting learning and sport activity in the local communities.[24] [25] [26] [27]

See also

References

  1. Web site: Ocean State Job Lot to Open New Store in Holmdel, New Jersey in 2024 . 31 March 2024 .
  2. https://www.bloomberg.com/profile/company/3912036Z:US “Bloomberg: "Ocean State Jobbers Inc.”
  3. Web site: Ocean State Job Lot (LinkedIn). 2017-10-19. LinkedIn. 2019-09-24.
  4. Web site: Curley. Bob. Kind of a Big Deal. 2021-06-25. Providence Media. 23 July 2018 . en.
  5. News: Vacant buildings filling up in Falmouth's Route 1 retail district. Mainebiz. 2017-10-24. en-US.
  6. News: Ocean State Job Lot in Stratham set for May opening. Barndollar. Hadley. seacoastonline.com. 2017-10-24. en.
  7. Web site: Ocean State Job Lot . https://web.archive.org/web/20191014205742/https://www.psh.com/ocean-state-job-lot . October 14, 2019 . 2021-06-25 . Partridge Snow & Hahn LLP . en.
  8. Ocean State Job Lot Named One Of America's Best Employers. 2021-06-25. PRNewswire. Ocean State Job Lot. en.
  9. Web site: America's Best Midsized Employers 2021. 2021-06-25. Forbes. en.
  10. News: August 16, 2018 . Ocean State Job Lot stores going green . https://web.archive.org/web/20180816233013/https://www.recorder.com/ocean-state-job-lot-in-athol-going-green-19449010 . August 16, 2018 . January 18, 2022 . Greenfield Recorder.
  11. Web site: Ocean State Job Lot Case Study. 2021-06-25. CommScope. en.
  12. Web site: Reyes . Max . As others struggle, Job Lot grows: It's taking over seven Toys 'R' Us sites . The Boston Globe . 2021-06-25 . January 8, 2019. en-US.
  13. Web site: Schemer . Daniel . May 3, 2019 . Ocean State Job Lot opens in former Toys R Us in Dartmouth . https://web.archive.org/web/20190503205501/https://www.southcoasttoday.com/news/20190503/ocean-state-job-lot-opens-in-former-toys-r-us-in-dartmouth . May 3, 2019 . 2021-06-25 . southcoasttoday.com . en.
  14. Ocean State Job Lot Inks Deal to Acquire Seven Toys "R" Us Locations. 2021-06-25. PRNewswire. Ocean State Job Lot. en.
  15. Web site: Our History. 2021-06-25. Ocean State Job Lot.
  16. Web site: 2019-02-27. Ocean State Job Lot will take over former Benny's locations. 2021-06-25. WPRI.com. en-US.
  17. Web site: Viewpoint: Marc Perlman, president of Ocean State Job Lot. 2021-06-25. Craig M. Douglas. February 28, 2011. Boston Business Journal.
  18. https://www.msn.com/en-us/news/offbeat/ocean-state-job-lot-moving-into-old-christmas-tree-shops/ar-BB1qvre4?ocid=BingNewsSerp
  19. News: Berkowitz. Bram. How Three Guys Turned $1,500 Into A National Retail Chain. 25 September 2019. Medium. January 21, 2019.
  20. Web site: Bernstein . Hattie . At Ocean State Job Lot, the hunt is on for bargains . The Boston Globe . 2021-06-25 . July 5, 2015. en-US.
  21. Web site: Roberts . Andrea Suozzo, Alec Glassford, Ash Ngu, Brandon . 2013-05-09 . Ocean State Job Lot Charitable Foundation - Nonprofit Explorer . 2024-07-15 . ProPublica . en.
  22. Web site: Charitable Foundation .
  23. Web site: O'Connor . Kevin P. . Job Lot, Home Depot employees join together in Fall River to help veterans . https://web.archive.org/web/20181213021655/https://www.heraldnews.com/news/20181212/job-lot-home-depot-employees-join-together-in-fall-river-to-help-veterans . December 13, 2018 . 2021-06-25 . The Herald News, Fall River, MA . en.
  24. News: May 28, 2019 . Ocean State Job Lot launches 'Choose-Give-Get' . https://web.archive.org/web/20190528144048/https://www.atholdailynews.com/AN-A6-MONDAY-Ocean-State-Job-Lot-25815573 . May 28, 2019 . Athol Daily News.
  25. News: Belomore . Ryan . March 25, 2019 . Ocean State Job Lot launches 'Lids For Kids' to provide free hats to youth sports leagues . https://web.archive.org/web/20190329050223/https://whatsuprhodeisland.com/2019/03/ocean-state-job-lot-launches-lids-for-kids-to-provide-free-hats-to-youth-sports-leagues/ . March 29, 2019 . 27 September 2019 . What's up Rhode Island.
  26. Web site: NEWS . NBC 10 . 2019-06-07 . Ocean State Job Lot plans health center in former YMCA building . https://web.archive.org/web/20191014210332/https://turnto10.com/news/local/ocean-state-job-lot-buys-former-ymca-building . October 14, 2019 . 2021-06-25 . WJAR.
  27. Web site: Gowdey-Backus . Emily . 2017-01-06 . OSJL honored at AFP-R.I.'s 2016 National Philanthropy Day . https://web.archive.org/web/20191014210331/https://pbn.com/osjl-honored-at-afps-2016-national-philanthropy-day119538/ . October 14, 2019 . 2021-06-25 . Providence Business News . en-US.

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