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Ames changes character of its Zayre units today. (discount store chain Ames Department Stores)
Daily News Record
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October 26, 1989|
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COPYRIGHT 1989 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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AMES CHANGES CHARACTER OF ITS ZAYRE UNITS TODAY
NEW YORK -- In what is being touted as the largest single retail conversion in history, 255 Zayre stores will become Ames Department Stores today.
The move, which follows Ames' October 1988 acquisition of 318 Zayre stores for $778 million, catapults the Rocky Hill, Conn.-based retailer to fourth place on the list of the country's largest discount chains. The top three are Sears, Roebuck, K mart and Wal-Mart.
The company is expecting to post sales of $5 billion in 1989, compared with $2.1 billion in 1987, ...
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