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  September 5, 2001
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Home > Company Index > Specialty Retail > Miscellaneous Retail > Rag Shops, Inc.

Rag Shops, Inc.
Nasdaq (SC): RAGS
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 PROFILE
Rag Shops sells all the materials that artsy-craftsy types need to keep the creative juices flowing. It operates about 65 stores offering value-priced crafts, fabrics, and related merchandise. Craft items -- including silk flowers, wicker, picture frames, stitchery, wearable art, and art supplies -- account for more than two-thirds of sales. Founded in 1963, Rag Shops has expanded by moving into markets adjacent to established operations. It also is introducing larger stores and adding interior decorating products to its inventory to attract a broader customer base. Rag Shops has stores in Connecticut, Florida, New Jersey, New York, and Pennsylvania. The founding Berenzweig family owns about 46% of the company.

 COMPETITION
A.C. Moore Arts & Crafts, Inc. (ACMR)
Jo-Ann Stores, Inc. (JAS)
Michaels Stores, Inc. (MIKE)

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 FINANCIAL OVERVIEW
Fiscal Year-End: August
2000 Sales (mil.): 100.20
1-Yr. Sales Growth: 5.7%
Employees: 1,200
Revenue per employee: $83,500.00

 KEY PEOPLE
• Stanley Berenzweig
    CEO
• Stephen Provenzano
    CFO

 CONTACT INFO
111 Wagaraw Rd.
Hawthorne, NJ 07506
US
Phone: 973-423-1303
Fax: 973-427-6568
Online: Web Site

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