Ocean State Job Lot

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Ocean State Job Lot
Private
IndustryRetail
GenreRetail
Founded1977
FounderMarc Perlman, Alan Perlman, Roy Dubs
Headquarters
Number of locations
139
Area served
New England, New York, New Jersey and Pennsylvania
Key people
Marc Perlman, Alan Perlman, Steve Aronow
Revenue700 Million
OwnerOcean State Jobbers, Inc.[1]
Number of employees
5,600[2][3]
Websiteoceanstatejoblot.com

Ocean State Job Lot (abbreviation: OSJL) is an American discount retailer operating throughout Rhode Island, Connecticut, Massachusetts, Pennsylvania, New Hampshire, Vermont, Maine, New York, and New Jersey. The company is headquartered in North Kingstown, Rhode Island. Founded by Marc Perlman, Alan Perlman and Roy Dubs in 1977 as a single store, it currently operates 139 stores in the US and has more than 5600 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).[1][4]

Etymology[edit]

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.

Overview[edit]

Ocean State Job Lot was founded in 1977 in North Kingstown, RI 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.[5][6][7] In 2017 and 2018, the company was on the Forbes's list of “America Best Midsize Employers.” [8][9][10] In 2017, the company completed a 500,000 square foot expansion of its warehouse in North Kingstown, making it the building with the largest footprint in Rhode Island with 1.25 million square feet.[11][2][12]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. [13][14][15]

Operations and business model[edit]

Ocean State Job Lot is a family-run privately-held business with the corporate headquarters and distribution center in North Kingstown, RI at Quonset Point.[2]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.[16][17] OSJL's business model involves purchasing merchandise from manufacturers and other retailers 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.[11][18]

OSJL Charitable Foundation[edit]

The Ocean State Job Lot Charitable Foundation was founded in 2004.[19] Through the charity, the company has been supporting a number of philanthropic causes including feeding the hungry, helping the homeless, assisting veterans and military families[20] , aiding animal rescue, caring for children, advancing healthcare, supporting the arts and promoting learning and sport activity in the local communities.[21][22][23][24]

See also[edit]

  • Benny's – another Rhode Island-based retail chain.

References[edit]

  1. ^ a b “Bloomberg: "Ocean State Jobbers Inc.”
  2. ^ a b c “Ocean State Job Lot History”
  3. ^ "Ocean State Job Lot (LinkedIn)". LinkedIn. 2017-10-19. Retrieved 2019-09-24.
  4. ^ “The Bay:"Kind of a Big Deal -In an Internet retail, post-Benny’s world, Ocean State Job Lot relies on its value and values ”
  5. ^ "Vacant buildings filling up in Falmouth's Route 1 retail district". Mainebiz. Retrieved 2017-10-24.
  6. ^ Barndollar, Hadley. "Ocean State Job Lot in Stratham set for May opening". seacoastonline.com. Retrieved 2017-10-24.
  7. ^ “Patridge Snow and Hanh:"OCEAN STATE JOB LOT”
  8. ^ "American Best Employers"
  9. ^ "Forbes:"America's best midsize employers"
  10. ^ “Greenfield Recorder:"Ocean State Job Lot stores going green”
  11. ^ a b Berkowitz, Bram (January 21, 2019). "How Three Guys Turned $1,500 Into A National Retail Chain". Medium. Retrieved 25 September 2019.
  12. ^ “Ruckus Wi-Fi Provides Stable, Pervasive Coverage for 1.5 Million Sq. Ft. Warehouse”
  13. ^ "BostonGlobe:" OSJL takes toys locations"
  14. ^ “South Coast Today:"Ocean State Job Lot opens in former Toys R Us in Dartmouth”
  15. ^ “Cision:"Ocean State Job Lot Inks Deal to Acquire Seven Toys "R" Us Locations”
  16. ^ “WPRI:"Ocean State Job Lot will take over former Benny’s locations”
  17. ^ “Bizjournals:"Viewpoint: Marc Perlman, president of Ocean State Job Lot”
  18. ^ “Boston Globe:"At Ocean State Job Lot, the hunt is on for bargains”
  19. ^ [https://projects.propublica.org/nonprofits/organizations/200959438 “ OCEAN STATE JOB LOT CHARITABLE FOUNDATION”]
  20. ^ “Herald News:"Job Lot, Home Depot employees join together in Fall River to help veterans”
  21. ^ “Athol Daily News:"Ocean State Job Lot launches 'Choose-Give-Get'”
  22. ^ 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. Retrieved 27 September 2019.
  23. ^ “Turn to 10:"Ocean State Job Lot plans health center in former YMCA building”
  24. ^ “Providence Business News:"OSJL honored at AFP-R.I.’s 2016 National Philanthropy Day”