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Home > Company Index > Retail > Department Stores > Montgomery Ward, LLC

Montgomery Ward, LLC
 NEWS FROM THE STANDARD
Surviving the Shakeout
Feb 26 2001 12:00 AM PST

 PROFILE
Montgomery Ward fought hard, but couldn't ward off the fierce competition. Started as a mail-order catalog business in 1872, the company had grown to become one of the largest privately owned US retailers. It ran about 250 department stores in 30-plus states. Montgomery Ward filed Chapter 11 in mid 1997, but emerged two years after GE Capital purchased it. (GE Capital's Financial Assurance unit acquired Montgomery Ward's Signature Group direct marketing arm.) The chain had been rolling out a new store format and revamping its merchandise in an effort to entice customers. However, sluggish sales in the 2000 holiday season were the final straw, and in December Montgomery Ward announced plans to shut down.

 FINANCIAL OVERVIEW
Fiscal Year-End: December
1999 Sales (mil.): 3,200.00
1-Yr. Sales Growth: (11.9)%
Employees: 37,315
Revenue per employee: $85,756.40

 KEY PEOPLE
• Roger V. Goddu
    CEO
• Thomas J. Paup
    CFO

 CONTACT INFO
535 W. Chicago Ave., One Wards Plaza
Chicago, IL 60671
US
Phone: 312-467-2000
Fax: 312-467-3975
Online: Web Site

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