By Lisa Johnston
New products on display at the American International Toy Fair, held in N
There was plenty of cause for celebration at P.C. Richard & Son on Oct. 11.
The day marked the 98th anniversary of the independently owned white- and brown-goods chain — the nation's largest — as well as the official opening of its 50th superstore.
The company commemorated the occasion with a gala ribbon-cutting event, followed that evening by a 98th birthday bash for employees and vendors at the Marriott Marquis in Times Square, where TWICE editor in chief Steve Smith presented principals Gary and Gregg Richard with a 2007 Excellence In Retailing Award.
The new location, which had a soft opening six months ago, represents the retailer's first foray into 34 Island, extending its New York City presence to all five boroughs. Located along the heavily trafficked Richmond Avenue retail corridor, the 30,000-square-foot store features such P.C. Richard mainstays as a premium built-in appliance section and a 100-foot-long flat-panel TV wall.
Like all its locations, the company acquired the real estate, which is in short supply in over-stored Staten Island. That, quipped CEO Gary Richard, is what accounted for the 98-year delay.
The grand opening was the second in two weeks for the chain, following the debut of a new 50,000-square-foot store in Riverhead, Long Island.
The date also marked the birthday of the late Alfred “A.J.” Richard, who helped his father Peter Christiaan build the business from a lone Brooklyn hardware store into a successful majap and CE chain.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.