J. C. Penney
J. C. Penney Company, Inc. is an American department store chain with 864 locations in 49 U. S. states and Puerto Rico. In addition to selling conventional merchandise, J. C. Penney stores house several leased departments such as Sephora, Seattle's Best Coffee, auto centers, optical centers, portrait studios, jewelry repair. Most J. C. Penney stores are located in suburban shopping malls. Before 1966, most of its stores were located in downtown areas; as shopping malls became more popular during the half of the 20th century, J. C. Penney followed the trend by relocating and developing stores to anchor the malls. In more recent years, the chain has continued to follow consumer traffic, echoing the retailing trend of opening some freestanding stores, including some next door to competitors. Certain stores are located in power centers; the company has been an Internet retailer since 1998. It has streamlined its catalog and distribution while undergoing renovation improvements at store level. James Cash Penney was born in Missouri.
After graduating from high school, Penney worked for a local retailer. He relocated to Colorado at the advice of a doctor, hoping that a better climate would improve his health. In 1898, Penney went to work for Thomas Callahan and Guy Johnson, who owned dry goods stores called Golden Rule stores in Colorado and Wyoming. In 1899, Callahan sent Penney to Evanston, Wyoming, to work with Johnson in another Golden Rule store. Callahan and Johnson asked Penney to join them in opening a new Golden Rule store. Using money from savings and a loan, Penney joined the partnership and moved with his wife and infant son to Kemmerer, Wyoming, to start his own store. Penney opened the store on April 14, 1902, he participated in the creation of two more stores and purchased full interest in all three locations when Callahan and Johnson dissolved their partnership in 1907. In 1909, Penney moved his company headquarters to Salt Lake City, Utah to be closer to banks and railroads. By 1912, Penney had 34 stores in the Rocky Mountain States.
In 1913, all stores were consolidated under the J. C. Penney banner; the so-called "mother store", in Kemmerer, opened as the chain's second location in 1904. It still operates, as of 2018, albeit with shorter hours than many other locations, is closed on Sundays. In 1913, the company was incorporated under the new name, J. C. Penney Company, with William Henry McManus as a co-founder. In 1914, the headquarters was moved to New York City to simplify buying and transportation of goods. By 1917, the company operated 175 stores in 22 states in the United States. J. C. Penney acquired The Crescent Corset Company in 1920, the company's first wholly owned subsidiary. In 1922, the company's oldest active private brand, Big Mac work clothes, was launched; the company opened its 500th store in 1924 in Hamilton, James Cash Penney's hometown. By the opening of the 1,000th store in 1928, gross business had reached $190,000,000. In 1940, Sam Walton began working at a J. C. Penney in Iowa. Walton went on to found future retailer Walmart in 1962.
By 1941, J. C. Penney operated 1,600 stores in all 48 states. In 1956, J. C. Penney started national advertising with a series of advertisements in Life magazine. J. C. Penney credit cards were first issued in 1959. In 1962, J. C. Penney entered discount merchandising with the acquisition of General Merchandise Company which gave them The Treasury stores; these discount operations proved unsuccessful and were shuttered in 1981. In 1963, J. C. Penney issued its first catalog; the company operated in-store catalog desks in eight states. The catalogs were distributed by the Milwaukee Catalog distribution center; the company dedicated its first full-line, shopping center department store in 1961. This store was located in Audubon, New Jersey; the second full-line shopping center store was dedicated, at King of Prussia Plaza, in King of Prussia, Pennsylvania in late 1962. Those stores expanded the lines of merchandise and services that an average J. C. Penney carried to include appliances, sporting goods, garden merchandise, beauty salons, portrait studios, auto parts, auto centers.
J. C. Penney expanded to include Hawaii in the 1960s; the company opened stores in Anchorage and Fairbanks, Alaska in 1962. The Penney Building in Anchorage collapsed and was damaged beyond repair in the 1964 Alaska earthquake; the company rebuilt the store as a shorter building on a larger footprint and followed up by building Anchorage's first public parking garage, which opened in 1968. In 1966, J. C. Penney "finished" its national expansion with the opening of its Honolulu, Hawaii store, at Ala Moana Center; the Penney store at Plaza Las Américas mall in San Juan, Puerto Rico, which opened in 1968, featured three levels and 261,500 square feet. It was the largest J. C. Penney until a 300,000-square-foot store was dedicated at Greater Chicago's Woodfield Mall in 1971; the Woodfield Mall store served as the largest in the chain until a replacement store opened at Plaza Las Américas in 1998, 350,000 square feet in size. In 1969, the company acquired Thrift Drug, a chain of drugstores headquartered in Pittsburgh, Pennsylvania.
It acquired Supermarkets Interstate, an Omaha-based food retailer which operated leased departments in J. C. Penney stores, The Treasury stores, Thrift Drug stores. On February 12, 1971, James Cash Penney died at the age of 95. Out of respect for his death, the company's stores were closed for the morning of February 16 during his funeral; that year, the company's revenues reached $5 billion
Dick's Sporting Goods
Dick's Sporting Goods, Inc. is an American sporting goods retail company, based in Coraopolis, Pennsylvania. The company was established by Richard "Dick" Stack in 1948, has 850 stores and 30,000 employees, as of 2018. Dick's is the nation's largest sporting goods retailer, is listed on the Fortune 500. Dick's is the largest sporting goods retail company in the United States, with 850 stores, as of 2018; the public company is based in Coraopolis, outside Pittsburgh, has 30,300 employees, as of January 2018. The company's subsidiaries include Field & Stream and Golf Galaxy, Chelsea Collective and True Runner. In 2017, there were 690 Dick's stores, close to 100 Golf Galaxy locations, 30 Field & Stream stores; the company launched Team Sports HQ, a collection of digital products, following the acquisitions of Affinity Sports, Blue Sombrero, GameChanger. Edward W. Stack serves as chief executive officer. Lauren Hobart is president of the company and the Dick's Sporting Goods Foundation and Lee Belitsky is chief financial officer, as of 2018.
Richard "Dick" Stack started the company as a fishing tackle store in Binghamton, New York, in 1948. He began with a $300 loan from his grandmother, who pulled from her savings, which she kept in a cookie jar. Edward W. Stack and his siblings purchased Dick's from their father in the early 1980s, when the company had two locations in Upstate New York. Stack established a board of directors, opened additional stores, relocated the company's headquarters to Pittsburgh in 1994, he became chairman and chief executive officer following his father's retirement in 1984, led the company during its initial public offering in 2002. Dick's operated throughout the Eastern United States, up to 2009, has since expanded to the Pacific Northwest and West Coast. There were more than 357 Dick's stores in 38 states, as of mid 2008. In 2012, the company opened three True Runner stores targeting runners in Boston, the St. Louis suburb Brentwood, Pittsburgh's Shadyside neighborhood; the stores closed in early 2017.
Dick's launched the women's athleisure and lifestyle store Chelsea Collective in 2015, opening two stores in Pittsburgh and Tysons, outside Washington, D. C; the shops closed in 2017. The company launched Dick's Team Sports HQ in early 2016, offering youth sports teams websites and sponsorship options. Dick's opened its first Field & Stream store in Cranberry Township, a suburb of Pittsburgh, in 2013. Thirty-five Field & Stream stores are open across the country, as of 2018. Jason Aldean became the Field & Stream brand's first spokesperson in August 2016. Following the Stoneman Douglas High School shooting in February 2018, Dick's stopped selling assault weapons and high-capacity magazines, increased the minimum age for purchasing guns to 21. Dick's-branded stores had suspended assault weapon sales following the Sandy Hook Elementary School shooting in 2012, but the guns were still available for purchase at Field & Stream locations. Dick's has never carried bump stocks; the company operates five distribution centers.
The most recent, in Conklin in Southern Tier, New York opened in January 2018, was further expanded to fulfill online sales a few months later. Dick's acquired Galyan's in July 2004; the company agreed to purchase Golf Galaxy for $225 million in November 2006. Dick's confirmed plans to close Golf Galaxy's headquarters in Eden Prairie, Minnesota in mid 2008. Dick's purchased the San Diego-based sports management technology company Affinity Sports for an undisclosed amount in mid 2016. In September, Dick's acquired Sports Authority's intellectual property. There were more than 30 Sports Authority locations at the time. Dick's acquired Golfsmith, the largest golf retailer in the United States, at a bankruptcy auction in October 2016. Dick's bid $70 million for all of Golfsmith's intellectual property and inventory; the company planned to retain around 30 of Golfsmith's more than 100 locations, as well as 500 employees. Dick's rebranded 36–38 Golfsmith stores in 16 U. S. states as Golf Galaxy in 2017.
This increased the number of Golf Galaxy stores to 98, located in 33 states. In July 1971, Dick's was told of infringing a patent owned by Furnace Brook, LLC, in a lawsuit filed in the Northern District of Illinois. On March 31, 2005, the company restated the first three fiscal quarters of 2004 as well as full-year figures due to adjustments to its accounting for leases and tenant or construction allowances. In June 2009, Dick's was accused of infringing a patent owned by The Donkey Company, Inc. in a lawsuit filed in District Court for the District of New Jersey. In 2014, Dick's began a lawsuit against Modell's Sporting Goods CEO, Mitchell Modell, for going undercover into their stores to gain access to their retail secrets; the company signed a 20-year naming rights agreement for Dick's Sporting Goods Park, a soccer-specific stadium for the Colorado Rapids team in Commerce City, Colorado, in 2006. Dick's has sponsored the team's home arena, PPG Paints Arena. Sporting events sponsored by Dick's have included the Dick's Sporting Goods Open and the Pittsburgh Marathon.
Dick's began sponsoring ESPN's college football kickoff week in 2009. In 2015, the company sponsored Olympic and Paralympic athletes and hopefuls, became the "official sporting goods retailer" for Team USA for the 2016 Summer Olympics and Paralympics. Dick's and Team USA established the Ambassador Program and Contender's Program in partnership with the United States Olympic Committee, employing Olympians and prospective Olympic athletes. Dick's employed 200 T
In retail, an "anchor tenant", sometimes called an "anchor store", "draw tenant", or "key tenant", is a larger tenant in a shopping mall a department store or retail chain. With their broad appeal, they are intended to attract a significant cross-section of the shopping public to the center, they are offered steep discounts on rent in exchange for signing long-term leases in order to provide steady cash flows for the mall owners. When the planned shopping centre format was developed by Victor Gruen in the early to mid-1950s, signing larger department stores was necessary for the financial stability of the projects, to draw retail traffic that would result in visits to the smaller shops in the centre as well. Anchors have their rents discounted, may receive cash inducements from the centre to remain open. Early on, grocery stores were a common type of anchor store. However, research on consumer behavior revealed that most trips to the grocery store did not result in visits to surrounding shops.
Large supermarkets remain common anchor stores within power centers however. As of 2005, the declining popularity of old-line department stores makes it necessary for mall management companies to consider re-anchoring with other retail alternatives, or mix commercial development with residential development to guarantee a captive clientele; the challenges faced by the traditional large department stores have led to a resurgence in the use of supermarkets and gyms as anchors. The International Council of Shopping Centers makes the presence of anchors one of the main defining characteristics of the two largest categories of centres, the regional center with 400,000 to 800,000 square feet in gross leasable area, the superregional center with more than 800,000 square feet of space; the regional center has two or more anchors, while the superregional has three or more. In each case, the anchors account for 50–70% of the centre's leasable space. Shopping centres with anchor stores have outperformed those without one, as the anchor helps draw shoppers attracted to the anchor to shop at other shops in the mall.
Retail Shopping centre Supermarket
South Carolina is a state in the Southeastern United States and the easternmost of the Deep South. It is bordered to the north by North Carolina, to the southeast by the Atlantic Ocean, to the southwest by Georgia across the Savannah River. South Carolina became the eighth state to ratify the U. S. Constitution on May 23, 1788. South Carolina became the first state to vote in favor of secession from the Union on December 20, 1860. After the American Civil War, it was readmitted into the United States on June 25, 1868. South Carolina is the 40th most extensive and 23rd most populous U. S. state. Its GDP as of 2013 was $183.6 billion, with an annual growth rate of 3.13%. South Carolina is composed of 46 counties; the capital is Columbia with a 2017 population of 133,114. The Greenville-Anderson-Mauldin metropolitan area is the largest in the state, with a 2017 population estimate of 895,923. South Carolina is named in honor of King Charles I of England, who first formed the English colony, with Carolus being Latin for "Charles".
South Carolina is known for its 187 miles of coastline, beautiful lush gardens, historic sites and Southern plantations, colonial and European cultures, its growing economic development. The state can be divided into three geographic areas. From east to west: the Atlantic coastal plain, the Piedmont, the Blue Ridge Mountains. Locally, the coastal plain is referred to the other two regions as Upstate; the Atlantic Coastal Plain makes up two-thirds of the state. Its eastern border is a chain of tidal and barrier islands; the border between the low country and the up country is defined by the Atlantic Seaboard fall line, which marks the limit of navigable rivers. The state's coastline contains many salt marshes and estuaries, as well as natural ports such as Georgetown and Charleston. An unusual feature of the coastal plain is a large number of Carolina bays, the origins of which are uncertain; the bays tend to be oval. The terrain is flat and the soil is composed of recent sediments such as sand and clay.
Areas with better drainage make excellent farmland. The natural areas of the coastal plain are part of the Middle Atlantic coastal forests ecoregion. Just west of the coastal plain is the Sandhills region; the Sandhills are remnants of coastal dunes from a time when the land was sunken or the oceans were higher. The Upstate region contains the roots of an eroded mountain chain, it is hilly, with thin, stony clay soils, contains few areas suitable for farming. Much of the Piedmont was once farmed. Due to the changing economics of farming, much of the land is now reforested in Loblolly pine for the lumber industry; these forests are part of the Southeastern mixed forests ecoregion. At the southeastern edge of the Piedmont is the fall line, where rivers drop to the coastal plain; the fall line was an important early source of water power. Mills built to harness this resource encouraged the growth of several cities, including the capital, Columbia; the larger rivers are navigable up to the fall line. The northwestern part of the Piedmont is known as the Foothills.
The Cherokee Parkway is a scenic driving route through this area. This is. Highest in elevation is the Blue Ridge Region, containing an escarpment of the Blue Ridge Mountains, which continue into North Carolina and Georgia, as part of the southern Appalachian Mountains. Sassafras Mountain, South Carolina's highest point at 3,560 feet, is in this area. In this area is Caesars Head State Park; the environment here is that of the Appalachian-Blue Ridge forests ecoregion. The Chattooga River, on the border between South Carolina and Georgia, is a favorite whitewater rafting destination. South Carolina has several major lakes covering over 683 square miles. All major lakes in South Carolina are man-made; the following are the lakes listed by size. Lake Marion 110,000 acres Lake Strom Thurmond 71,100 acres Lake Moultrie 60,000 acres Lake Hartwell 56,000 acres Lake Murray 50,000 acres Russell Lake 26,650 acres Lake Keowee 18,372 acres Lake Wylie 13,400 acres Lake Wateree 13,250 acres Lake Greenwood 11,400 acres Lake Jocassee 7,500 acres Lake Bowen Earthquakes in South Carolina demonstrate the greatest frequency along the central coastline of the state, in the Charleston area.
South Carolina averages 10–15 earthquakes a year below magnitude 3. The Charleston Earthquake of 1886 was the largest quake to hit the Southeastern United States; this 7.2 magnitude earthquake destroyed much of the city. Faults in this region are difficult to study at the surface due to thick sedimentation on top of them. Many of the ancient faults are within plates rather than along plate boundaries. South Carolina has a humid subtropical climate, although high-elevation areas in the Upstate area have fewer subtropical characteristics than areas on the Atlantic coastline. In the summer, South Carolina is hot and humid, with daytime temperatures averaging between 86–93 °F in most of the state and overnight lows averaging 70–75 °F on the coast and from 66–73 °F inland. Winter temperatures are much less uniform in South Carolina. Coastal areas of the state have mild winters, with high temperatures approaching an average of 60 °F and overnight lows around 40 °F. Inland, the average January overnight low is around 32 °F i
Sears and Company, colloquially known as Sears, is an American chain of department stores founded by Richard Warren Sears and Alvah Curtis Roebuck in 1893, reincorporated by Richard Sears and new partner Julius Rosenwald in 1906. Based at the Sears Tower in Chicago and headquartered in Hoffman Estates, the operation began as a mail ordering catalog company and began opening retail locations in 1925; the first location was in Indiana. In 2005, the company was bought by the management of the American big box chain Kmart, which formed Sears Holdings upon completion of the merger. Sears had the largest domestic revenue of any retailer in the United States until October 1989, when Walmart surpassed it. In 2018, Sears was the 31st-largest retailer in the United States. After several years of declining sales, its parent company filed for Chapter 11 bankruptcy on October 15, 2018. Sears announced on January 16, 2019 it had won its bankruptcy auction and would shrink and remain open with about 400 stores.
In 1863, Richard Warren Sears was born in Stewartville, Minnesota to a wealthy family, which moved to nearby Spring Valley. In 1879, Sears' father died shortly after losing the family fortune in a speculative stock deal. Sears moved across the state to work as a railroad station agent in North Redwood, as well as in Minneapolis. While in North Redwood, a jeweler received an impressive shipment of watches. Sears purchased them sold them at a low price to the station agents and made a considerable profit, he started a mail-order watch business in Minneapolis in 1886, calling it "R. W. Sears Watch Company." Within the first year, he met Alvah C. Roebuck, a watch repairman; the next year Roebuck relocated the business to Chicago. In 1887, R. W. Sears Watch Company published Richard Sears' first mail-order catalog, offering watches and jewelry. In 1889 Sears sold his business for US$100,000 and relocated to Iowa, intending to be a rural banker. Sears returned to Chicago in 1892 and established a new mail-order firm, again selling watches and jewelry, with Roebuck as his partner, operating as the A. C. Roebuck watch company.
In 1893, they renamed the company to Sears, Roebuck & Company and began to diversify the product lines offered in their catalogs. Before the Sears catalog, farmers near small rural towns purchased supplies—often at high prices and on credit—from local general stores with narrow selections of goods. Prices were relied on the storekeeper's estimate of a customer's creditworthiness. Sears took advantage of this by publishing catalogs offering customers a wider selection of products at stated prices. By 1894, the Sears catalog had grown to 322 pages, including many new items such as sewing machines, sporting goods, automobiles. By 1895, the company was producing a 532-page catalog. Sales were greater than $400,000 in 1893 and more than $750,000 two years later. By 1896, dolls and groceries had been added to the catalog. Despite the strong and growing sales, the national Panic of 1893 led to a full-scale recession, causing a cash squeeze and large quantities of unsold merchandise by 1895. Roebuck decided to quit, returning in a publicity role.
Sears offered Roebuck's half of the company to Chicago businessman Aaron Nusbaum, who in turn brought in his brother-in-law Julius Rosenwald, to whom Sears owed money. In August 1895, they bought Roebuck's half of the company for $75,000; the company was reincorporated in Illinois with a capital stock of $150,000 in August 1895. The 1895 transaction was handled by Albert Henry Loeb of Chicago law firm Adler. Copies of the transaction documents are now displayed on the walls of the law firm. Sears and Rosenwald got along well with each other, but not with Nusbaum. Rosenwald brought to the mail-order firm a rational management philosophy and diversified product lines: dry goods, consumer durables, hardware and nearly anything else a farm household could desire. Sales continued to grow and the prosperity of the company and their vision for greater expansion led Sears and Rosenwald to take the company public in 1906, with a stock placement of $40 million, they had to incorporate a new company in order to bring the operation public.
The current company inherits the history of the old company, celebrating the original 1892 incorporation, rather than the 1906 revision, as the start of the company. Sears' successful 1906 initial public offering marks the first major retail IPO in American financial history and represented a coming of age, financially, of the consumer sector; the company traded under the ticker symbol S, was a component of the Dow Jones Industrial Average from 1924 to 1999. In 1906, Sears opened its catalog plant and the Sears Merchandise Building Tower in Chicago's West Side; the building was the anchor of what would become the massive 40-acre Sears and Company Complex of offices and mail-order operations at Homan Avenue and Arthington Street. The complex served as corporate headquarters until 1973, when the Sears Tower was completed and served as the base of the mail-order catalog business until 1993. By 1907, under Rosenwald's leadersh
Thalhimers was a department store in the Southern United States. Based in Richmond, the venerable chain at its peak operated dozens of stores in Virginia, North Carolina, South Carolina, one store in Memphis, Tennessee. Thalhimer's traditions were most notable during the holiday season with visits from the sticker-distributing Snow Bear and, in years, the arrival of Lego Land at the downtown Richmond store. William Thalhimer immigrated to the Richmond area from Germany in the early 19th century. In 1842 he opened a dry good store which his grandson, William B. Thalhimer, transformed into Richmond's first department store. In 1978, the company, by developed into a regional department store chain, was acquired by California-based Carter Hawley Hale Stores, it was at this time that the apostrophe was dropped from the company's logo, making the name "Thalhimers". At one time, Carter Hawley Hale owned several notable department stores, including upscale Neiman-Marcus and John Wanamaker. After poor financial results throughout the 1980s, saddled by the effects of leveraged debt from fending off two leveraged buyout attempts, in 1990, Carter Hawley Hale decided to concentrate on its West Coast department stores such as The Broadway, The Emporium, Capwell's and sold Thalhimers to St. Louis-based May Company for US$325 million.
The Winston-Salem, North Carolina store, housed in the Sosnik-Morris-Early Commercial Block, was listed on the National Register of Historic Places in 1984. In February 1992, Thalhimers was merged into The Hecht Company, nearly all locations were rebranded as Hecht's, excluding the two Charleston, SC stores and the Memphis, TN store which were sold to Dillard's, the store at Lynnhaven Mall, which remained open as Thalhimers until May 1992; the Lynnhaven store became a second Hecht's location in November of that year. After Federated Department Stores acquired the May Company in 2005, in 2006 when Federated dissolved May's brands, while most of the Hecht's division became part of Macy's East, the Hecht's stores in much of the former Thalhimers territory became part of Macy's South along with the Macy's stores in Louisiana and most of the Foley's stores in Louisiana and Texas. An addition to Thalhimers massive six-story flagship store at Seventh and Broad Streets was built in 1939, its luxurious restaurant, the Richmond Room, was the source of many recipes still published today.
The Richmond Room had a fast food spin-off, the fried chicken chain Golden Skillet. For many years it and its main rival, Miller & Rhoads, were the fashionable retail anchors for downtown Richmond. On February 22, 1960, a group of students from Virginia Union University, called the Richmond 34, staged a protest against racial segregation at the Richmond Room; some 34 were arrested, the city's first mass arrests of the Civil Rights Movement. The case of Raymond B. Randolph, Jr. v. Commonwealth of Virginia would test whether trespassing laws constituted a violation of free speech. Along with several other Thalhimers locations, the downtown flagship closed on January 22, 1992, after purchase by the May Company, it had been the last major department store in the once-bustling retail corridor. The building remained vacant until demolished on June 12, 2004, to make way for a performing arts center; the department store's history, along with the history of the Thalhimer family, has been chronicled in the 2010 book Finding Thalhimers by Elizabeth Thalhimer Smartt, the great-great-great-granddaughter of founder William Thalhimer.
List of defunct department stores of the United States Thalhimer Smartt, Elizabeth. Thalhimers Department store: story, theory. Thesis, Virginia Commonwealth University, 2005 RichmondCityWatch.com: Thalhimer's Department Store profile and photographs Virginia Union University: The Richmond 34 Forsyth County Public Library: Photograph Collection, including 1959 pictures of the Thalhimers in downtown Winston-Salem, North Carolina
Red Lobster Hospitality LLC is an American casual dining restaurant chain headquartered in Orlando, Florida. The company has operations across the United States, internationally in Ecuador, Malaysia, Saudi Arabia, the United Arab Emirates, Qatar and Japan; as of February 24, 2013, the company had 705 locations worldwide. Golden Gate Capital has been Red Lobster's parent company since it was acquired from Darden Restaurants on July 28, 2014. On August 6, 2014, Red Lobster announced their new headquarters location in CNL Center City Commons in Orlando. On March 6, 2015, Red Lobster opened the Restaurant Support Center; the first Red Lobster restaurant was opened on January 18, 1968, in Lakeland, Florida, by entrepreneurs Bill Darden and Charley Woodsby. The oft-quoted date of March 1968 is based on the March 27, 1968, incorporation of Red Lobster Inns of America, Inc. in the Florida Secretary of State's Office. Billed as a "Harbor for Seafood Lovers", the first restaurant was followed by four others throughout the southeast United States.
In 1970, General Mills acquired Red Lobster as a five-unit company. With new backing, the chain expanded in the 1980s. Red Lobster entered Canada in the 1980s, in many cases by buying Ponderosa restaurant locations; the company maintains between 25 and 30 locations in Canada, the bulk in larger urban centres in Ontario with a smaller number in larger urban centres in all three Prairie provinces. It exited the Quebec market in September 1997 due to financial losses, never attempted to enter the market in British Columbia. On March 29, 1994, Bill Darden died, after an extended illness, at the age of 75. In 1995, Red Lobster, became part of Darden Restaurants, Inc. During that time, General Mills decided to release Darden into an independent, publicly traded corporation. In 2009, Red Lobster debuted its new Bar Harbor restaurant prototype modeled after coastal New England; the new exterior features include shingle and stone towers, signal flags, Adirondack-style benches. The interior updates include dark wood paneling, warm-toned fabrics, soft lighting, nautical decor and artwork.
On December 19, 2013, Darden Restaurants announced plans to sell or spin off the Red Lobster brand, citing pressure from stock investors. This was in direct response to Darden going over budget on a new digital platform. On May 12, 2014, Darden announced that as part of the spinoff of Red Lobster, it was converting the co-located Red Lobster and Olive Garden locations into standalone Olive Garden locations. On May 16, 2014, Darden announced it would be selling the Red Lobster seafood restaurant chain to Golden Gate Capital for US$2.1 billion. Darden announced the completion of the sale of Red Lobster on July 28, 2014. On August 6, 2014, Red Lobster announced their new headquarters location in CNL Center City Commons in Orlando. On March 6, 2015, Red Lobster opened the Restaurant Support Center. Red Lobster has offered an endless snow crab leg promotion twice in its history. However, in 2003, the promotion resulted in parent company Darden Restaurants taking a $3 million charge to third-quarter earnings, resulting in president Edna Morris' departure from the company.
The ill-timed promotion was launched amid high wholesale crab leg prices. The chain underestimated how many times a customer would order more. Further complicating matters at the restaurant level was the amount of time a customer spent table-side in the restaurant cracking crab legs; this resulted in increased wait times in the lobby and overall diminished customer capacity per hour. In February 2016, American singer Beyoncé referenced Red Lobster in her single "Formation". After unexpectedly releasing the single and performing it during the Super Bowl 50 halftime show, Red Lobster reported a 33% sales increase due to the reference; the brand specializes in seafood, including lobster, fish and mollusks. It serves chicken and pasta. In February 2016, Red Lobster was exposed for using less expensive langostino, along with Maine lobster, in their lobster bisque recipe; as of February 24, 2013, the company had 705 locations worldwide. As of 2018, it had locations in the United States, Puerto Rico, Mexico, Saudi Arabia, Japan, United Arab Emirates, Brazil and Ecuador.
List of seafood restaurants List of casual dining restaurant chains Food portal Official website