Bealls (Texas)

Bealls /ˈbɛlz/ is a United States chain of department stores headquartered in Texas. It is owned by Stage Stores Inc.^[1] The chain overlaps with the Florida-based Bealls chain, although the two are not related. In markets where the two chains overlap, the Florida chain operates as Burkes Outlet instead.^[2]

Early history

The first Beall store was opened in Henderson, Texas in 1923 by brothers Archie and Robbie (and later, Willie). The Bealls opened a second store in Nacogdoches in 1926 and a third in Mt. Pleasant in 1927.^[3]

By 1930, there were seven stores in the chain. The Beall brothers won bids for the business of J.L. Douglas, a Jacksonville merchant. This move would establish Jacksonville as a permanent home office for the growing chain (as well as its eighth store). The Beall brothers decided to file for incorporation of the chain during this time.^[3]

In 1935, the home office moved to the Mayfield Building in downtown Jacksonville. The Jacksonville store location would move in 1936 from the old Douglas building to the corner of Main and Commerce streets, where it would remain for nearly 50 years. By 1940, the Bealls had 15 stores in the chain.^[3]

Despite World War II, store count by 1950 had grown to 19. Continued growth of the chain led to 38 locations by 1957. Bealls shifted their home office and warehousing to a new location on East Rusk Street in Jacksonville, east of downtown. In the 1960s, a chain-wide modernization of store interiors and operations was underway and more name-brand items could be found in Bealls stores by this time also.^[3]

In 1972, Bealls had grown to 60 stores in Texas and found its way beyond the borders of its home state for the first time, with a location opened in Oklahoma. Bealls had reached most parts of Texas, except for the far west and the Panhandle. Meanwhile, three of Robbie Beall's sons were now in high-level positions with the company; Royce and Ray were now vice-presidents and R.G. was serving as president of Bealls.^[3]

The 1980s brought more changes on the homefront. Buying operations were moved away from Jacksonville to the Las Colinas area of Irving, Texas in 1983. This move ensured close proximity to many manufacturer's representatives of the apparel industry; most had local offices and showrooms in the Dallas Market Center area. By 1984, Bealls moved its long-time downtown Jacksonville store operation to a new location on South Jackson Street. A new warehouse and distribution center took shape on the north side of Jacksonville, replacing the warehouse that occupied the rear of the headquarters building. The new operation was opened in 1986.

The Brothers decide to sell out

Stunning news came in 1988. With Royce and Ray Beall announced plans to sell Beall's due to the vote of shares by shareholders to sell the company, this effort was led in part by "other" family members of Jacksonville. The 13% voted against the sale. During the middle to late 80's the company was hit particular hard when the oil revenues in the state of Texas plummeted that resulted in a downturn for the state. This forced the company to quit paying dividends thus in turn stockholders became aggressive to sell the company at bargain prices. Bain Venture Capital and other investors. This group, in turn, combined the operations of Beall's with those of Houston-based Palais Royal (also bought out by Bain, etc. at the same time) and formed a new company, Specialty Retailers, Inc. The combined company would be based in Houston. There were 152 Bealls stores in the chain by this time: Texas had 128, Oklahoma had 11, New Mexico had 10, and there were 3 stores in Alabama.^{[4][5][6][7][8]} This was a shock to Jacksonville, whose residents and those in the business community considered Bealls to be a good neighbor and corporate citizen. Jacksonville was spared a complete loss, as the new distribution center would stay open, and the credit department of the combined company would be located at the previous Bealls office east of downtown. Also remaining would be the former flagship store of the company, where it still remains, on South Jackson.

Recent history

By the early-mid 1990s, the combined company would come to encompass another name, Stage Stores, and a much broader number of stores in many parts of the U.S. Stage acquired the C.R. Anthony chain, based in Oklahoma, in 1997. Some locations were converted to Stage and others to Bealls.^[9] In 2001, Stage declared bankruptcy and filed to reorganize;^[10] it emerged from bankruptcy protection 4 months later, having pared its store count to 342 stores in 13 states.^[11][12] Stage went public in 2002, and began trading on the Nasdaq Stock Market.^[13] Peebles, a U.S. east coast-based chain, was acquired by Stage in 2003;^[14] Peebles had 136 stores in 17 states at the time of the transaction.^[12] In February 2006, B.C. Moore & Sons, a chain in the southeastern U.S., was acquired.^[15] In March 2006, Stage opted to move its stock listing to the NYSE from the Nasdaq.^[16] By 2007, Bealls and the other 3 brands were represented in 33 states with more than 650 locations. Goody's, another competitor, went out of business and filed bankruptcy in early 2009; Stage was able to acquire Goody's name during the bankruptcy proceedings.^[12] By 2010, Stage has grown to 5 brands, spanning 39 states and 760 locations, of those, 210 are Bealls stores.^[12]

References

External links

• Official website
• Brief history of Bealls (covering the years 1926-1972)