Variety Wholesalers, Inc. Company Background
In 1949, an ambitious 24-year old named John Pope took over his family's business of five small dime stores in eastern North Carolina. He renamed them "Popes" and quickly expanded and began buying groups of struggling discount retailers including:
52 Eagle Stores
54 McCrory/United stores
118 Value Mart stores
145 Super Dollar stores
53 P.H. Rose stores
106 Allied stores
33 Maxway stores
60 Bargain Town stores
106 Roses stores
118 Bonus Stores/Bill's Dollar Stores
This conglomerate became Variety Wholesalers, Inc. which established a reputation of revitalizing companies, with all stores becoming profitable within just 12 months of their purchase. Corporate Structure Variety Wholesalers was incorporated in North Carolina on July 25, 1957. Variety Stores, Inc. (formerly "Rose's Stores, Inc."), was incorporated in Delaware on May 5, 1927 and is the wholly owned subsidiary of Variety Wholesalers, Inc. The retail stores operated by the Company are grouped into three main divisions:
-The Super 10 Division consists of 85 stores ranging in size from 5,000 to 10,000 square feet. These stores operate under the names "Super Dollar," "Bill's Dollar Stores," "Super 10" and "Bargain Town."
-The Maxway Division consists of 135 stores ranging in size from 10,000 square feet to 30,000 square feet and are chiefly competitive with junior department stores under the Maxway and Roses Express nameplates.
-The Roses Division consists of 160 stores ranging in size from 30,000 square feet to 70,000 square feet and are chiefly competitive with discount and off price stores.
All divisions offer an extensive assortment of retail merchandise including both hardlines (toys, health and beauty aids, housewares, furniture, sporting goods, snacks, etc.) and softlines (clothing, accessories, jewelry, etc.). – less