Gold Circle
Encyclopedia
Gold Circle was a discount department store chain
based in Ohio
. Founded in 1967, it was a division of Federated Department Stores
with 76 stores when the chain was sold and dismantled in 1988. Hills Department Stores
took over 35 stores and Target
purchased 31 locations while Kmart
leased 3 others.
, Ohio
, Kentucky
and Western Pennsylvania
, the chain was founded in 1967 in Columbus, Ohio
, with its corporate headquarters and distribution center located in Worthington, Ohio
, a northern Columbus suburb. In 1984, Gold Circle was notable as the first major discounter to implement chain wide UPC
barcode scanning in an effort to reduce checkout time for shoppers and improve inventory accuracy and speed store merchandise replenishment.
, another Federated discount division, in an effort to improve the operating efficiency and profits of both. While the chains each continued to operate under their original names (though several Richways were converted to Gold Circles), buying and other administrative functions for both were consolidated into Gold Circle's Worthington, Ohio headquarters.
acquired Federated Department Stores in 1988, Gold Circle was liquidated along with Richway (in addition to the sale or liquidation of several other under-performing Federated divisions). The chain was dismantled in late 1988 with Kimco Development
acquiring all of the store locations while the corporate office and distribution center were sold off in separate transactions. Hills leased 35 Gold Circle stores in Ohio, New York and Kentucky and immediately converted them into Hills stores following the liquidation sales, reopening early in 1989. Most, if not all, of these stores later became Ames when they bought Hills in 1998 and eventually were shuttered in several waves of store closures that ended with Ames' liquidation in 2002. Kohl's
moved into some former Gold Circle locations. Dayton Hudson Corporation bought 31 Gold Circle and Richway stores in Florida, Georgia, North Carolina, South Carolina, Tennessee and Kentucky to remodel and reopen as Target. Most of the locations that became Target stores were later closed when Target built new stores to replace them. K-Mart leased 2 locations in Ohio.
Chain store
Chain stores are retail outlets that share a brand and central management, and usually have standardized business methods and practices. These characteristics also apply to chain restaurants and some service-oriented chain businesses. In retail, dining and many service categories, chain businesses...
based in Ohio
Ohio
Ohio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...
. Founded in 1967, it was a division of Federated Department Stores
Federated Department Stores
Macy's, Inc. is a department store holding company and owner of Macy's and Bloomingdale's department stores. Macy's Inc.'s stores specialize mostly in retail clothing, jewelery, watches, dinnerware, and furniture....
with 76 stores when the chain was sold and dismantled in 1988. Hills Department Stores
Hills Department Stores
Hills Department Store was a Canton, Massachusetts, based discount department store chain. It was founded in 1957 in Youngstown, Ohio, and existed until 1999 when it was acquired by Ames. Most stores were located in Ohio, Indiana, New York, Pennsylvania and West Virginia, though the company had...
took over 35 stores and Target
Target Corporation
Target Corporation, doing business as Target, is an American retailing company headquartered in Minneapolis, Minnesota. It is the second-largest discount retailer in the United States, behind Walmart. The company is ranked at number 33 on the Fortune 500 and is a component of the Standard & Poor's...
purchased 31 locations while Kmart
Kmart
Kmart, sometimes styled as "K-Mart," is a chain of discount department stores. The chain acquired Sears in 2005, forming a new corporation under the name Sears Holdings Corporation. The company was founded in 1962 and is the third largest discount store chain in the world, behind Wal-Mart and...
leased 3 others.
History
Covering mostly New YorkNew York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, Ohio
Ohio
Ohio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...
, Kentucky
Kentucky
The Commonwealth of Kentucky is a state located in the East Central United States of America. As classified by the United States Census Bureau, Kentucky is a Southern state, more specifically in the East South Central region. Kentucky is one of four U.S. states constituted as a commonwealth...
and Western Pennsylvania
Pennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
, the chain was founded in 1967 in Columbus, Ohio
Columbus, Ohio
Columbus is the capital of and the largest city in the U.S. state of Ohio. The broader metropolitan area encompasses several counties and is the third largest in Ohio behind those of Cleveland and Cincinnati. Columbus is the third largest city in the American Midwest, and the fifteenth largest city...
, with its corporate headquarters and distribution center located in Worthington, Ohio
Worthington, Ohio
-Dissolution of the Company:By August 11, 1804 the plat maps were completed, payments or notes promising payments collected and deeds prepared for all sixteen thousand acres of the Scioto Company's purchase...
, a northern Columbus suburb. In 1984, Gold Circle was notable as the first major discounter to implement chain wide UPC
Universal Product Code
The Universal Product Code is a barcode symbology , that is widely used in North America, and in countries including the UK, Australia, and New Zealand for tracking trade items in stores. Its most common form, the UPC-A, consists of 12 numerical digits, which are uniquely assigned to each trade item...
barcode scanning in an effort to reduce checkout time for shoppers and improve inventory accuracy and speed store merchandise replenishment.
Merge with Richway
In 1986, Federated merged its Gold Circle division with its Richway Department StoresRichway Department Stores
Richway was the discount department store division of Atlanta-based Rich's. It was originally part of Rich's, and was later bought by Federated Department Stores when they purchased the Rich's chain. It was originally known as Richway, a Rich's Company with a more bluish logo than the later...
, another Federated discount division, in an effort to improve the operating efficiency and profits of both. While the chains each continued to operate under their original names (though several Richways were converted to Gold Circles), buying and other administrative functions for both were consolidated into Gold Circle's Worthington, Ohio headquarters.
Liquidation
After Campeau CorporationCampeau Corporation
Campeau Corporation was a Canadian real estate development and investment company founded by entrepreneur Robert Campeau. It was infamous from its ultimately unsuccessful acquisitions of American department store holding companies Allied Stores in 1986 and Federated Department Stores in 1988...
acquired Federated Department Stores in 1988, Gold Circle was liquidated along with Richway (in addition to the sale or liquidation of several other under-performing Federated divisions). The chain was dismantled in late 1988 with Kimco Development
Kimco Realty Corporation
Kimco Realty Corporation, , a Real Estate Investment Trust , owns and operates North America’s largest portfolio of neighborhood and community shopping centers. As of September 30, 2011, the company owned interests in 937 shopping center properties comprising 137,100,000 sqft of leasable space...
acquiring all of the store locations while the corporate office and distribution center were sold off in separate transactions. Hills leased 35 Gold Circle stores in Ohio, New York and Kentucky and immediately converted them into Hills stores following the liquidation sales, reopening early in 1989. Most, if not all, of these stores later became Ames when they bought Hills in 1998 and eventually were shuttered in several waves of store closures that ended with Ames' liquidation in 2002. Kohl's
Kohl's
Kohl's Corporation is an American department store chain headquartered in the Milwaukee suburb of Menomonee Falls, Wisconsin, operating , 1,089 stores in 49 states. In 1998, it entered the S&P 500 list, and is also listed in the Fortune 500...
moved into some former Gold Circle locations. Dayton Hudson Corporation bought 31 Gold Circle and Richway stores in Florida, Georgia, North Carolina, South Carolina, Tennessee and Kentucky to remodel and reopen as Target. Most of the locations that became Target stores were later closed when Target built new stores to replace them. K-Mart leased 2 locations in Ohio.