J.W. Mays
Encyclopedia
J.W. Mays, Inc. is a real estate firm based in Brooklyn, New York
, United States
. From 1927 until 1988 the company ran a chain of discount department stores in the area surrounding New York City referred to as simply Mays, with stores located in three of New York City's five boroughs and Long Island.
n Jewish immigrant, in 1924. In 1927 Weinstein incorporated the company, and added his initials. The reason why he chose the name to begin with was because, as Weinstein said, "it reminded me of the countryside and the flowers and the springtime".
Mays grew throughout the 1950s and 1960s. It's slogan, "Every Day A Sales Day", was imprinted, in big red, script lettering, on every white paper shopping bag, and every white cardboard shopping box. Mondays were "super-sales" days, and stores were especially crowded then. Weinstein was aggressive in his competition against other discount retailers such as Ohrbach's
and Alexander's
, as well as the higher end department stores. At one point Weinstein discussed a merger between Mays and his two main discount competitors, but it never came to be.
At the company's peak in the 1970s, Mays operated nine stores. At that time the company had about 5,000 employees. By the late 1970s, it started losing market share
to other discount retailers, and in 1982 the store declared Chapter 11
bankruptcy
. The company closed five locations that operated outside the city, leaving one store in Manhattan, two stores in Queens, and the original store in Brooklyn.
In 1987, Mays closed one of its two stores in Queens (Glen Oaks
), leaving three in the chain. The chain continued on but announced on December 28, 1988 that they would be closing the remaining three stores in the chain immediately, with the final sale occurring on December 31 of that year. Beginning on January 1, 1989, J.W. Mays, Inc. reincorporated as the real estate company that it currently does business as.
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. From 1927 until 1988 the company ran a chain of discount department stores in the area surrounding New York City referred to as simply Mays, with stores located in three of New York City's five boroughs and Long Island.
History
The chain grew from a Brooklyn women's clothing store founded by Joe Weinstein, a RussiaRussia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
n Jewish immigrant, in 1924. In 1927 Weinstein incorporated the company, and added his initials. The reason why he chose the name to begin with was because, as Weinstein said, "it reminded me of the countryside and the flowers and the springtime".
Mays grew throughout the 1950s and 1960s. It's slogan, "Every Day A Sales Day", was imprinted, in big red, script lettering, on every white paper shopping bag, and every white cardboard shopping box. Mondays were "super-sales" days, and stores were especially crowded then. Weinstein was aggressive in his competition against other discount retailers such as Ohrbach's
Ohrbach's
Ohrbach's was a moderate-priced department store with a merchandising focus primarily on apparel and accessories. From its modest start in 1923 until the chain's demise in 1987, Ohrbach's expanded dramatically after World War II, and opened numerous branch locations in the metro areas of New York,...
and Alexander's
Alexander's
Alexander's was a department store chain in the New York metropolitan area. Catering to low- and middle-income consumers, Alexander's offered discounted designer fashions and high-quality private label goods. At its height, the company operated 16 stores. Its advertising slogan was "You'll find...
, as well as the higher end department stores. At one point Weinstein discussed a merger between Mays and his two main discount competitors, but it never came to be.
At the company's peak in the 1970s, Mays operated nine stores. At that time the company had about 5,000 employees. By the late 1970s, it started losing market share
Market share
Market share is the percentage of a market accounted for by a specific entity. In a survey of nearly 200 senior marketing managers, 67 percent responded that they found the "dollar market share" metric very useful, while 61% found "unit market share" very useful.Marketers need to be able to...
to other discount retailers, and in 1982 the store declared Chapter 11
Chapter 11, Title 11, United States Code
Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most...
bankruptcy
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
. The company closed five locations that operated outside the city, leaving one store in Manhattan, two stores in Queens, and the original store in Brooklyn.
In 1987, Mays closed one of its two stores in Queens (Glen Oaks
Glen Oaks, Queens
Glen Oaks is a neighborhood in the easternmost portion of the New York City Borough of Queens. The neighborhood is part of Queens Community Board 13.-Location:...
), leaving three in the chain. The chain continued on but announced on December 28, 1988 that they would be closing the remaining three stores in the chain immediately, with the final sale occurring on December 31 of that year. Beginning on January 1, 1989, J.W. Mays, Inc. reincorporated as the real estate company that it currently does business as.