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Gamble-Skogmo

From Alfawiki
Gamble-Skogmo Inc.
Company typePublic (after 1947)
IndustryRetail
Founded1920
FounderBertin Gamble, Philip Skogmo
Defunct1980 (acquired by Wickes Companies)
FateAcquired by Wickes Companies; assets divested or shut down after bankruptcy
Headquarters
St. Louis Park, Minnesota
,
United States
Area served
United States, Canada
Key people
Bertin Gamble (founder, CEO until 1977)
ProductsHardware, automotive supplies, apparel, department stores, discount stores, grocery stores, mail-order catalogs, appliances (Coronado brand)
Number of employees
26,000 (approximate in late 1970s) (late 1970s)

Gamble-Skogmo Inc. stood as a prominent American retail conglomerate with its headquarters located in St. Louis Park, Minnesota. Its extensive operations encompassed a variety of retail formats, including Gambles hardware and automotive supply outlets, the Woman's World and Mode O'Day apparel chains, J.M. McDonald department stores, Leath Furniture, discount outlets such as Tempo and Buckeye Mart, Rasco Variety Stores, Sarco Outlet Stores, Toy World, Red Owl Grocery, Snyder Drug, and the mail-order firm Aldens. In Canada, the company operated Macleods Hardware based in Winnipeg and Stedmans Department Stores in Toronto. Additionally, it marketed household appliances under the Coronado label.

History

The enterprise was established in 1920 by childhood companions Bertin Gamble and Philip Skogmo from Arthur, North Dakota. Initially focusing on an automobile agency, the business soon shifted its emphasis toward selling auto parts. The inaugural Gamble Auto Supply store opened in 1925 in St. Cloud, Minnesota. By 1929, the chain had grown to encompass 55 locations across five states. The introduction of franchise operations in 1933 propelled expansion to 1,500 dealers and 300 company-owned stores by 1939 throughout 24 states. The firm went public in 1947.

During the Second World War, due to shortages of durable goods, Gamble-Skogmo diversified into apparel and soft merchandise. After the war, growth continued with acquisitions such as Canadian retailer Macleods Hardware—comprising 270 stores—in 1945 and the Stedmans chain with 286 outlets in 1963. The purchase of Aldens in 1964 facilitated entry into catalog retailing and financial services.

Throughout the 1960s, Gamble-Skogmo broadened its holdings by acquiring Mode O'Day women’s clothing stores; variety chains including Rasco and Buckeye Mart; House of Fabrics; as well as Red Owl supermarkets paired with Snyder's drugstores. The company also expanded its real estate interests through Gamble Development Company and introduced home improvement centers alongside acquiring Woman's World clothing outlets.

By the late 1970s, Gamble-Skogmo ranked as the fifteenth largest retailer in the United States, operating over 4,300 stores staffed by approximately 26,000 employees across 39 states and Canada. Founder Bert Gamble stepped down as CEO in 1977 after decades of leadership marked by strategic growth.

In 1978, Gamble-Skogmo sought a partial acquisition of Washington-based retail conglomerate Garfinckel but was legally barred from increasing its shareholding further.

The year 1980 saw California-based Wickes Companies acquire Gamble-Skogmo through a highly leveraged buyout. Financial troubles soon followed, culminating in Wickes filing for bankruptcy protection in 1982. During restructuring efforts, Gamble-Skogmo’s assets were either divested or shut down; notably, Aldens' catalog operations were terminated that same year. After Wickes entered receivership in 1984, former Gamble executives reconstituted Gamble-Skogmo as an independent company.

Bertin Gamble died in 1986. Ultimately, the company’s intricate corporate structure combined with an aggressive expansion approach contributed to its decline following the leveraged acquisition by Wickes.

Aldens

Aldens originated in 1889 under the name Chicago Mail Order and Millinery Company and was incorporated in Illinois in 1902. It was renamed Chicago Mail Order Company in 1906 and expanded during the mid-1930s by acquiring M.W. Savage Company, Hamilton Garment, and D.T. Bohon. In 1946, it adopted the name Aldens, Inc., becoming the fourth-largest mail-order distributor nationwide. Gamble-Skogmo initially purchased a 46% interest in Aldens before gaining full ownership by 1964. The catalog division was discontinued in 1985. Beginning in 1961, Aldens also marketed life insurance products through its subsidiary John Alden Life Insurance Company.

Cussins & Fearn Company

Established in 1893 by Charles D. Cussins and William A. Fearn, the Cussins & Fearn Company ran a network of hardware and hardlines outlets throughout Ohio. By 1947, the chain expanded to 30 stores and eventually reached a peak of 44 company-operated locations. In 1960, it was purchased by Founders, Inc., an affiliate of Gamble-Skogmo. The brand was gradually discontinued in the early 1970s as Buckeye Mart discount stores gained prominence.

Discount Department Stores

Gamble-Skogmo oversaw several discount department store chains across the United States, including Rasco-Tempo stores in the Western region, Tempo outlets in the Midwest and Great Plains, and Buckeye Mart locations in Ohio managed by Cussins & Fearn Co. The Tempo and Buckeye Mart brands merged into the Tempo-Buckeye division with headquarters in Minneapolis and Columbus, Ohio. During the late 1970s, stores in Ohio and Michigan were sold to Fisher's Big Wheel, while remaining Tempo stores were transferred to F. S. Rasco & Co.; many closed following the bankruptcy of parent company Wickes in the early 1980s.

Gamble-Skogmo maintained a 51% stake in Clark's Gamble Corporation, which operated Clark's Discount Department Stores in both the United States and Canada. In 1968, U.S.-based Clark's stores were divested to Cook United, Inc., although Gamble-Skogmo retained ownership of Canadian operations.

In 1978, Gamble-Skogmo expanded its portfolio by acquiring Howard Brothers Discount Stores (also known as Howards' Brandiscount), headquartered in Monroe, Louisiana.

F. S. Rasco & Company

Named after its founder Ferron S. Rasco, F. S. Rasco & Co. was a franchised variety store chain consisting of 120 locations primarily serving California, Nevada, Arizona, and New Mexico from its base in Burbank, California. The Rasco division also managed Tempo and Rasco-Tempo discount department stores, Toy World toy retailers, and Sarco Outlet Stores—Sarco being a reversal of "Rasco." Founders, Inc., a subsidiary of Gamble-Skogmo, acquired the division in 1951; it ceased operations during the early 1980s.

Gambles Department Stores

The Aldens company operated multiple department stores that later formed part of the Gamble Department Stores division, which included 25 regional outlets such as:

Mode O'Day

Founded in 1932 by Lebanese immigrant siblings Ernest, Billy, and Bert Malouf and headquartered in Burbank, California, Mode O'Day was a women's apparel chain specializing in dress manufacturing and retail through franchised outlets. By the mid-1960s through the early 1980s, Mode O'Day operated more than 800 franchised locations across over 30 states supported by seven manufacturing plants. The company was acquired by Gamble-Skogmo Inc. in 1961. During the 1980s, it underwent rebranding to "Fashion Crossroads" to refresh its market presence. One franchisee subsequently purchased their franchise rights outright and continues to run a store located in Casper, Wyoming.

Red Owl Supermarkets

In 1988, the grocery wholesaler Supervalu Inc. obtained ownership of the Red Owl brand. By 2009, only two Red Owl grocery outlets were still in operation: Masons Red Owl located in Green Bay, Wisconsin and Brownlow's Red Owl based in Le Roy, Minnesota.

Woman's World Shops

Woman's World Shops, a retailer focused on plus-size women's clothing, was part of Gamble-Skogmo before being acquired by Wickes Companies. In 1986, Wickes divested the chain to Amcena Corporation, a Dutch retail group under the Brenninkmeijer family’s control. Amcena managed several retail brands including Millers Outpost, Maurices, Uptons, and Howland Steinbach. The firm later rebranded as American Retail Group Inc. in 1994. Subsequently, Maurices was purchased by Dress Barn, Inc., which eventually became Ascena, Inc.

Coronado brand appliances and electronics

The Coronado brand represented Gamble-Skogmo’s private-label line of appliances and electronic products, sourced since the 1930s from manufacturers such as Wells-Gardner, Belmont, Warwick, Detrola, Colonial, Arvin, and Kingston Radio Corp. These producers also supplied comparable private-label merchandise to rival retailers like Sears (Silvertone), Western Auto (Truetone), and Montgomery Ward (Airline), resulting in nearly identical products marketed under different store brands.

Hiawatha brand bicycles

From the 1930s through the 1970s, Gambles Hardware stores retailed Hiawatha bicycles. The majority were manufactured by Cleveland Welding Company or Shelby Cycle Company, with additional production by Murray Ohio and Huffman Manufacturing.

External links

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