Marshalls

Marshalls: is one of the nation's leading off-price family retailers. Marshall's stores offer a wide range of apparel for men, women, and children, as well as furnishings for the home. Experiencing steady growth since its inception in the 1950s, the company faced intense competition in the 1990s, the effects of which it sought to offset by tailoring its merchandise to suit customer preferences at each store location, stepping up its advertising program, remodeling some stores and expanding others, and broadening the scope of its product lines to include gourmet foods and giftware.
The company traces its history to 1956, when Alfred Marshall gathered together a band of innovative entrepreneurs on the East Coast. Contemplating the dual postwar phenomena of a boom in the economy and growth in the suburbs, Marshall and associates came upon a way to meet it profitably. Together, they opened a self-service department store in Beverly, Massachusetts, offering apparel and homewares at alluringly low prices.
The concept proved extremely successful; ten years later, Marshalls had become the leading off-price retail chain in the nation. Given the volatility of the American economy in the 1970s, with recession affecting the spending habits of most shoppers, the off-price industry gathered speed. By buying up manufacturers' post-season, over-run, and close-out stock, Marshalls was able to offer fashionable, high-quality "designer" items at prices 20 to 60 percent less than those of the department stores.
The problem with the creative and successful plan, however, was that it inspired many imitators. As Marshalls' sales recipe became a favorite, many other retailers created off-price stores of their own. Moreover, department stores were also fighting for their share of consumer interest and began marking down merchandise as well.
By the mid-1970s, it became clear that for Marshalls to survive the off-price wars, it needed to expand aggressively. The company had earned $3.2 million on sales of $77.1 million in fiscal 1975, but its stores were still mostly limited to the New England area. The stores then averaged around 30,000 square feet and were situated in high-traffic areas such as strip malls and shopping centers.

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