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ⓘ Ocean State Job Lot is an American discount retailer operating throughout Rhode Island, Connecticut, Massachusetts, Pennsylvania, New Hampshire, Vermont, Maine, ..




Ocean State Job Lot
                                     

ⓘ Ocean State Job Lot

Ocean State Job Lot is an American discount retailer operating throughout Rhode Island, Connecticut, Massachusetts, Pennsylvania, New Hampshire, Vermont, Maine, New York, and New Jersey. The company is headquartered in North Kingstown, Rhode Island. Founded by Marc Perlman, Alan Perlman and Roy Dubs in 1977 as a single store, it currently operates 139 stores in the US and has more than 5.600 associates. Its selection of merchandise comprises a variety of discounted household goods, apparel, pet supplies, kitchen pantry staples and seasonal products.

                                     

1. Overview

Ocean State Job Lot was founded in 1977 in North Kingstown, RI by Marc Perlman, Alan Perlman and Roy Dubs. After Ames went bankrupt in 2002, Ocean State Job Lot expanded by buying many of its former locations in New England. In 2017 and 2018, the company was on the Forbess list of" America Best Midsize Employers.” In 2017, the company completed a 500.000 square foot expansion of its warehouse in North Kingstown, making it the building with the largest footprint in Rhode Island with 1.25 million square feet.As of 2018, the company generated nearly $700 million in annual sales. Most recently in 2019, the company expanded into Pennsylvania by acquiring former Toys "R" Us locations.

                                     

2. Operations and business model

Ocean State Job Lot is a family-run privately-held business with the corporate headquarters and distribution center in North Kingstown, RI at Quonset Point.During its expansion, the company has revitalized numerous commercial spaces and shopping plazas throughout the Northeast by acquiring vacant properties once occupied by other retailers. OSJLs business model involves purchasing merchandise from manufacturers and other retailers in bulk and selling in smaller quantities to customers with the minimum operational and distribution costs. The merchandise selection consists of a variety of manufacturers overruns, overstocks and packaging changes, as well as selected other products. The company is especially focused on buying and selling closeouts.

                                     

3. OSJL Charitable Foundation

The Ocean State Job Lot Charitable Foundation was founded in 2004. Through the charity, the company has been supporting a number of philanthropic causes including feeding the hungry, helping the homeless, assisting veterans and military families, aiding animal rescue, caring for children, advancing healthcare, supporting the arts and promoting learning and sport activity in the local communities.