19 Facts About American Stores


American Stores Company was an American public corporation and a holding company which ran chains of supermarkets and drugstores in the United States from 1917 through 1998.

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American Stores was incorporated in 1917 when The Acme Tea Company merged with four small Philadelphia-area grocery stores to form American Stores.

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In 1961, American Stores company acquired California's Alpha Beta chain of supermarkets.

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American Stores itself was acquired in 1979 by the Skaggs Companies, Inc, which adopted the American Stores Company name, and relocated the company headquarters to Salt Lake City, Utah.

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American Stores was by far the larger organization, with 758 supermarkets, 139 drugstores, 53 restaurants, and 9 general merchandise stores in nine states when compared to the 241 Skaggs stores.

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American Stores posted $83 million in earnings on sales of nearly $8 billion in 1983.

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American Stores raised its bid for Jewel's preferred stock, increasing the total bid to $1.

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In 1985, American Stores sold the White Hen chain, since convenience stores did not fit into the company's plans.

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In March 1988, American Stores made an unsolicited tender offer for Lucky Stores, an Alpha Beta competitor noted for high efficiency and low prices.

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Lucky accepted and American Stores was on track to become the largest supermarket chain in the United States, over the Kroger and Safeway chains.

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American Stores appealed, and in April 1989, a Ninth Circuit panel in San Francisco overturned the injunction.

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Meanwhile, American Stores continued to plan its integration of Lucky while it waited for the district court to lift the injunction as ordered by the Ninth Circuit.

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American Stores sold the minority interest in Eagle Food Centers that it had acquired from Lucky and sold it to New York-based Odyssey Partners.

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American Stores eventually made the decision to change the name of the former Sav-on stores back to Sav-on Drugs.

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American Stores had long been run as a decentralized holding company, but in order to compete in the fierce retail environment of the 1990s the company announced plans in 1992 to transform itself into an integrated operating company.

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From 1992 up through 1998, American Stores consolidated operations and moved major responsibilities of their subsidiaries to their headquarters in Salt Lake City, Utah.

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In early 1994, American Stores launched a discount warehouse food store concept in California.

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Don L Skaggs was the Executive Vice President and General Manager of Skaggs Telecommunications Service, Inc a non-retail subsidiary of American Stores consisting of an audio media production company, a satellite teleport U S Satellite Corporation and an operation that sold equipment to law enforcement agencies.

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American Stores was not certain if Skaggs' intention was to launch a proxy fight for control of American Stores or to alter its current management or direction.

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