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Ocean State Job Lot

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Ocean State Job Lot
Company typePrivate
IndustryDiscount retail
Founded1977
FounderMarc Perlman, Alan Perlman, Roy Dubs
Headquarters
North Kingstown, Rhode Island
Number of locations
153[1]
Area served
New England, New York, New Jersey and Pennsylvania
Key people
Marc Perlman, Alan Perlman, Steve Aronow
ProductsGifts, Housewares, Food, Flooring, Books, Toys, Hardware, Electronics, Clothing, Lawn and Garden, Health and Beauty, Sporting Goods, Pet Supplies, Automotive, Seasonal
BrandsVarious
Revenue$700M
OwnerOcean State Jobbers, Inc.[2]
Number of employees
5,600[3][4]
SubsidiariesUnknown restaurants
Websiteoceanstatejoblot.com

Ocean State Job Lot (abbreviation: OSJL or simply Job Lot) is a 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

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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

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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.[5]

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.[6][7][8] In 2017, 2018, and 2020, the company was on the Forbes's list of “America's Best Midsize Employers”.[9][10][11] In 2017, the company completed a 500,000-square-foot (46,000 m2) expansion of its warehouse in North Kingstown, making it the building with the largest footprint in Rhode Island with a total of 1,250,000 square feet (116,000 m2).[12][3][13] 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.[14][15][16]

Operations and business model

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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.[3] 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.[17][18][19] 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.[12][20] It is also affiliated with the import and distribution company Yankee Trader, LLC.

OSJL Charitable Foundation

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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

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  • Benny's – A historical Rhode Island–based discount retail chain, now defunct.
  • Building 19 – An earlier Massachusetts-based discount closeout retailer, now defunct.
  • Ollie's Bargain Outlet – A Pennsylvania-based chain of discount closeout retailers with a nearly identical business model to that of OSJL.
  • Tuesday Morning – A Texas-based chain known as one of the original American discount closeout retailers; it operates with a similar business model to that of OSJL. Now defunct.
  • Marden's - A Maine-based chain of discount closeout retailers.

References

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  1. ^ "Ocean State Job Lot to Open New Store in Holmdel, New Jersey in 2024". 31 March 2024.
  2. ^ “Bloomberg: "Ocean State Jobbers Inc.”
  3. ^ a b c "Our History". Ocean State Job Lot. Retrieved 2021-06-25.
  4. ^ "Ocean State Job Lot (LinkedIn)". LinkedIn. 2017-10-19. Retrieved 2019-09-24.
  5. ^ Curley, Bob (23 July 2018). "Kind of a Big Deal". Providence Media. Retrieved 2021-06-25.
  6. ^ "Vacant buildings filling up in Falmouth's Route 1 retail district". Mainebiz. Retrieved 2017-10-24.
  7. ^ Barndollar, Hadley. "Ocean State Job Lot in Stratham set for May opening". seacoastonline.com. Retrieved 2017-10-24.
  8. ^ "Ocean State Job Lot". Partridge Snow & Hahn LLP. Archived from the original on October 14, 2019. Retrieved 2021-06-25.
  9. ^ Ocean State Job Lot. "Ocean State Job Lot Named One Of America's Best Employers". PRNewswire (Press release). Retrieved 2021-06-25.
  10. ^ "America's Best Midsized Employers 2021". Forbes. Retrieved 2021-06-25.
  11. ^ "Ocean State Job Lot stores going green". Greenfield Recorder. August 16, 2018. Archived from the original on August 16, 2018. Retrieved January 18, 2022.
  12. ^ a b Berkowitz, Bram (January 21, 2019). "How Three Guys Turned $1,500 Into A National Retail Chain". Medium. Retrieved 25 September 2019.
  13. ^ "Ocean State Job Lot Case Study". CommScope. Retrieved 2021-06-25.
  14. ^ Reyes, Max (January 8, 2019). "As others struggle, Job Lot grows: It's taking over seven Toys 'R' Us sites". The Boston Globe. Retrieved 2021-06-25.
  15. ^ Schemer, Daniel (May 3, 2019). "Ocean State Job Lot opens in former Toys R Us in Dartmouth". southcoasttoday.com. Archived from the original on May 3, 2019. Retrieved 2021-06-25.
  16. ^ Ocean State Job Lot. "Ocean State Job Lot Inks Deal to Acquire Seven Toys "R" Us Locations". PRNewswire (Press release). Retrieved 2021-06-25.
  17. ^ "Ocean State Job Lot will take over former Benny's locations". WPRI.com. 2019-02-27. Retrieved 2021-06-25.
  18. ^ Craig M. Douglas (February 28, 2011). "Viewpoint: Marc Perlman, president of Ocean State Job Lot". Boston Business Journal. Retrieved 2021-06-25.
  19. ^ https://www.msn.com/en-us/news/offbeat/ocean-state-job-lot-moving-into-old-christmas-tree-shops/ar-BB1qvre4?ocid=BingNewsSerp [bare URL]
  20. ^ Bernstein, Hattie (July 5, 2015). "At Ocean State Job Lot, the hunt is on for bargains". The Boston Globe. Retrieved 2021-06-25.
  21. ^ Roberts, Andrea Suozzo, Alec Glassford, Ash Ngu, Brandon (2013-05-09). "Ocean State Job Lot Charitable Foundation - Nonprofit Explorer". ProPublica. Retrieved 2024-07-15.{{cite web}}: CS1 maint: multiple names: authors list (link)
  22. ^ "Charitable Foundation".
  23. ^ O'Connor, Kevin P. "Job Lot, Home Depot employees join together in Fall River to help veterans". The Herald News, Fall River, MA. Archived from the original on December 13, 2018. Retrieved 2021-06-25.
  24. ^ "Ocean State Job Lot launches 'Choose-Give-Get'". Athol Daily News. May 28, 2019. Archived from the original on May 28, 2019.
  25. ^ Belomore, Ryan (March 25, 2019). "Ocean State Job Lot launches 'Lids For Kids' to provide free hats to youth sports leagues". What's up Rhode Island. Archived from the original on March 29, 2019. Retrieved 27 September 2019.
  26. ^ NEWS, NBC 10 (2019-06-07). "Ocean State Job Lot plans health center in former YMCA building". WJAR. Archived from the original on October 14, 2019. Retrieved 2021-06-25.{{cite web}}: CS1 maint: numeric names: authors list (link)
  27. ^ Gowdey-Backus, Emily (2017-01-06). "OSJL honored at AFP-R.I.'s 2016 National Philanthropy Day". Providence Business News. Archived from the original on October 14, 2019. Retrieved 2021-06-25.
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