Goody's Family Clothing
Encyclopedia
Houston, Texas
Houston is the fourth-largest city in the United States, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of . Houston is the seat of Harris County and the economic center of , which is the ...
. It is a successor to Goody's Family Clothing, a chain of clothing retailers based in Knoxville, Tennessee
Knoxville, Tennessee
Founded in 1786, Knoxville is the third-largest city in the U.S. state of Tennessee, U.S.A., behind Memphis and Nashville, and is the county seat of Knox County. It is the largest city in East Tennessee, and the second-largest city in the Appalachia region...
. At one time Goody's Family Clothing operated close to 500 stores in the U.S South
Southern United States
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and Midwest, including Alabama
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, Arkansas
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, Florida
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, Georgia
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Georgia is a state located in the southeastern United States. It was established in 1732, the last of the original Thirteen Colonies. The state is named after King George II of Great Britain. Georgia was the fourth state to ratify the United States Constitution, on January 2, 1788...
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, Iowa
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, Kansas
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, Kentucky
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, Mississippi
Mississippi
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, Missouri
Missouri
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North Carolina
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Oklahoma
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, Ohio
Ohio
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, South Carolina
South Carolina
South Carolina is a state in the Deep South of the United States that borders Georgia to the south, North Carolina to the north, and the Atlantic Ocean to the east. Originally part of the Province of Carolina, the Province of South Carolina was one of the 13 colonies that declared independence...
, Tennessee
Tennessee
Tennessee is a U.S. state located in the Southeastern United States. It has a population of 6,346,105, making it the nation's 17th-largest state by population, and covers , making it the 36th-largest by total land area...
, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, Virginia
Virginia
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, and West Virginia
West Virginia
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. In January 2009 the company declared bankruptcy
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
and announced that it would close. The last stores closed their doors for the final time on February 28, 2009. In July 2009, Stage Stores Inc. acquired the rights to the Goody's name. In 2010, Stage Stores Inc. reported to re-open Goody's stores and might continue to expand old locations nationwide. In late 2010, Goody's Family Clothing opened 17 new stores in the Southeast. However, there are plans to open or re-open some stores across the Midwest and Southeast in late 2011 and early 2012.
History
Goody's was founded in 1953 in AthensAthens, Tennessee
Athens is a city in McMinn County, Tennessee, United States. It is the county seat of McMinn County and the principal city of the Athens Micropolitan Statistical Area, which is part of the larger Chattanooga-Cleveland-Athens Combined Statistical Area. The population was 13,220 at the 2000...
, Tennessee
Tennessee
Tennessee is a U.S. state located in the Southeastern United States. It has a population of 6,346,105, making it the nation's 17th-largest state by population, and covers , making it the 36th-largest by total land area...
, by M.D. Goodfriend as an offshoot of a family retail business, The M. Goodfriend Store, that the founder's father, Mike Goodfriend, had started in Athens in 1913. The new store, Athens Outlet Store, focused on the sale of closeout, irregular, and previous-year merchandise. The business grew, operating 20 stores by 1970.
In 1978, the name was changed to "Goody's". "Goody" was the college nickname of M.D. Goodfriend's son Bob, who had joined the family business in 1972. In 1979 Bob Goodfriend became president of the business and the company changed its merchandise focus from the outlet
Outlet store
An outlet store or factory outlet is a brick and mortar or online retail store in which manufacturers sell their stock directly to the public. Traditionally, a factory outlet was a store attached to a factory or warehouse, sometimes allowing customers to watch the production process like in the...
model to offering current, first-quality, brand-name merchandise. With this new strategic direction, the chain expanded rapidly. Goody's went public with its stock in October 1991, but it continued to be headed by Bob Goodfriend. A private-label clothing line was launched in 1993. By 1998 the chain recorded $1 billion in annual sales, and in 2000 it opened its 300th store. By 2004 there were more than 350 stores recording annual sales of $1.3 billion. In 2006 Goody's became a privately held company again when it was acquired by GMM Capital and Prentice Capital Management in January 2006. Sales in 2006 totaled $1.6 billion.
A subsidiary of Stage Stores Inc. acquired the Goody's name in July 2009, and announced plans to re-open several former Goody's stores.
As of March 2010 Stage Stores has re-opened Goody's stores in a few states.
Exclusively at Goody's
Duck Head
Duck Head is a brand name for clothing and shoes in the United States. First registered as a trademark in the late 19th century, the name has been used by several different manufacturers and retailers of apparel, primarily in the southern United States...
, founded in 1865, became an exclusive Goody's brand in 2004. Duck Head merchandise included glasses,
jeans, shirts, and shoes. In 2007, Goody's and actress Ashley Judd
Ashley Judd
Ashley Judd is an American television and film actress, who has played lead roles in films including Ruby in Paradise, Kiss the Girls, Double Jeopardy, Where the Heart Is and High Crimes...
launched a clothing line called "The Ashley Judd Collection", including sweater
Sweater
A sweater, jumper, pullover, sweatshirt, jersey or guernsey is a garment intended to cover the torso and arms. It is often worn over a shirt, blouse, T-shirt, or other top, but may also be worn alone as a top...
s, denim
Denim
Denim is a rugged cotton twill textile, in which the weft passes under two or more warp threads. This produces the familiar diagonal ribbing identifiable on the reverse of the fabric, which distinguishes denim from cotton duck. Denim has been in American usage since the late 18th century...
jeans and dress tops for women. Other lines included "Ivy Crew" and "Goodclothes".