Retail
The Outlet Company was formed in 1891 when opened brothers Joseph and Leon Samuels opened a department store at 176 Weybosset Street in downtown Providence. Known as The Outlet, it quickly became a Providence landmark to the point of occupying an entire city block and attracting shoppers from all over southern New England. For decades, the store remained strong with its sole flagship location and dominated the field of retail in not only Providence, but Rhode Island as a whole.
With the changing field of retail in the mid-20th Century, the company diversified with opening suburban locations as well as buying some existing stores such as Philadelphia-based Phillipsborn and Bedya, the midwestern Hughes & Hatcher chain, and The Edw. Malley Co. department store chain in New Haven, Connecticut. However, the allure of building a broadcasting empire under the leadership of company president Bruce Sundlun led Outlet to leave the retail business in November 1980. In 1981, the Outlet Company sold the original downtown retail store (and other stores) to United Department Stores and the flagship Outlet location on Weybosset Street was shuttered in 1982. The building was destroyed by fire on October 16, 1986.
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Famous quotes containing the word retail:
“A free-enterprise economy depends only on markets, and according to the most advanced mathematical macroeconomic theory, markets depend only on moods: specifically, the mood of the men in the pinstripes, also known as the Boys on the Street. When the Boys are in a good mood, the market thrives; when they get scared or sullen, it is time for each one of us to look into the retail apple business.”
—Barbara Ehrenreich (b. 1941)