Ocean State Job Lot Inks Deal to Acquire Seven Toys «R» Us Locations
NORTH KINGSTOWN, R.I., Jan. 8, 2019 /PRNewswire/ — Ocean State Job Lot (OSJL), a leading discount closeout retailer headquartered in Rhode Island with 133 stores located throughout New England, New Jersey, and New York, recently purchased six former Toys «R» Us locations, and has agreed to a long-term lease at a seventh location. The seven store locations are in New York, New Hampshire, Massachusetts, and Pennsylvania – a new market for OSJL.
«The recent closure of Toys «R» Us retail stores has allowed Ocean State Job Lot to acquire seven outstanding locations at an extraordinary price,» said Marc Perlman, Principal Owner and CEO, Ocean State Job Lot. «In an ever-changing retail environment where many retailers are struggling, Ocean State Job Lot has been able to adapt, enter new markets, re-open closed storefronts, and create new job opportunities. We realize that people work hard for their money, and those retailers who are able to provide exceptional value will be rewarded by their customers.»
Effective in December 2018, Ocean State Job Lot has purchased or leased the following former Toys «R» Us spaces:
«Shoppers throughout New England, New York and New Jersey know Ocean State Job Lot for our Crazy Deals, fantastic prices, and wide range of merchandise,» said Alan Perlman, Principal Owner. «We look forward to bringing that same Ocean State Job Lot experience to value-conscious consumers in Pennsylvania.»
The purchase is part of Ocean State Job Lot’s continued efforts to enhance its in-store customer experience with brighter, more modern and larger spaces. «The Toys «R» Us locations make sense for us. They are expansive, with an average footprint of 40,000 square feet, and will allow us to offer our customers a fantastic overall shopping experience,» continued Marc Perlman.
Ocean State Job Lot has made its mark in the discount-retail segment through opportunistic buying which allows it to pass along huge savings to consumers. OSJL offers an ever-evolving selection of first-quality and closeout merchandise at unbelievable prices. Shoppers find an ever-changing array of household goods, apparel, pet supplies, seasonal products (such as holiday, gardening, patio, pool and beach supplies), and kitchen pantry staples at a fraction of their typical price.
About Ocean State Job Lot
Now in its 41st year, Ocean State Job Lot is a growing, privately held discount retail chain with 133 stores in New England, New York, and New Jersey, approximately 5,000 employees, and annual sales exceeding $675 million. Job Lot sells brand name, first quality merchandise at closeout prices including household goods, apparel, pet supplies, seasonal products and kitchen staples at a fraction of their typical price. The company was named by Forbes Magazine as a 2017 and 2018 «Best Midsize Employer.»
The Ocean State Job Lot Charitable Foundation has a long history of philanthropic leadership, placing emphasis on local food banks in communities where Job Lot operates stores. The Foundation also supports medical and literacy initiatives, disaster relief efforts, the performing arts, military, seniors, teachers, first responders, and special needs and foster children. OSJL is headquartered at 375 Commerce Park Road in the Quonset Point Business Park, North Kingstown, RI 02852. Phone: (401) 295-2672; Web: OceanStateJobLot.com.
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SOURCE Ocean State Job Lot