Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Zayre Corp. - Lehman Brothers Collection

Zayre Corp.

List of Deals

Zayre Corporation, parent of the Zayre Store chain of discount department stores, was incorporated in 1962. The first Zayre (Yiddish for "very good") store opened in Hyannis, Massachusetts, in 1956. Its founders were two cousins, Stanley and Sumner Feldberg. With sales doubling every second or third year, the Feldbergs were quick to add stores, which numbered more than 200 by the early 1970s. By then, the company had diversified into specialty retailing.

Hit or Miss opened its first store in Natick, Massachusetts, in 1965. The store thrived and grew into a chain so quickly that within four years it attracted the attention of a giant by comparison, Zayre. In 1969 Zayre bought the Hit or Miss chain and began its exploration of the upscale off-priced fashion market. Zayre's timing could not have been better. During the recession of the 1970s, Hit or Miss' results climbed so rapidly that Zayre began to think of expanding its off-priced upscale apparel merchandising.

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