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Abraham & Straus
Abraham & Straus, commonly shortened to A&S, was a major New York City department store, based in Brooklyn. Founded in 1865, it became part of Federated Department Stores in 1929. Shortly after Federated's 1994 acquisition of R.H. Macy & Company, it eliminated the A&S brand. Most A&S stores took the Macy's name, although a few became part of Stern's, another Federated division, but one that offered lower-end goods than Macy's or A&S did.
The first Brooklyn store, at 285 Fulton Street, opened in 1865 and measured 25 feet by 90 feet. Abraham Abraham, age 22, and Joseph Wechsler each contributed $5,000 for the purchase. In 1883, the firm bought the recently built Second Empire cast-iron Wheeler Building at 422 Fulton Street to be their flagship store.
On April 1, 1893, Wechsler was bought out by Nathan Straus, Isidor Straus, and Simon F. Rothschild. The Straus brothers provided the financing, but Rothschild was the active partner. The firm became Abraham & Straus. At the time, the company had 2,000 employees. Simon F. Rothschild, Abraham's son-in-law, Edward Charles Blum, and son, Lawrence Abraham, became partners in the new firm.
By 1900, the company had 4,650 employees. From the 1890s to the 1920s, A&S utilized a system of catalog store agencies across Long Island to serve customers.
In 1912, Isidor Straus, along with his wife Ida, died in the sinking of the RMS Titanic.
Around 1915, after Abraham's daughter married Isidor's son Percy Selden Straus, the Straus family divided up the empire with Nathan's family running A&S and Isidor's family running Macy's.
Beginning in 1928, the company embarked on a $7.8 million expansion of the Fulton Street Store, which included excavating a new basement without disturbing customers above. The renovated store opened October 10, just days before the Wall Street Crash of 1929. In the summer of 1929, the company joined Filene's and Lazarus to form Federated Department Stores. Bloomingdale's joined the following year. To economize during the Depression, the company began scheduling employees according to hourly sales. In addition, all employees took a 10 percent pay cut. No employees were laid off.
In 1937, Walter N. Rothschild led the company, and was president and chairman until 1955. Following Rothschild, Sidney L. Solomon became the company's first non-family president. At the time, the company had 12,000 employees.
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Abraham & Straus
Abraham & Straus, commonly shortened to A&S, was a major New York City department store, based in Brooklyn. Founded in 1865, it became part of Federated Department Stores in 1929. Shortly after Federated's 1994 acquisition of R.H. Macy & Company, it eliminated the A&S brand. Most A&S stores took the Macy's name, although a few became part of Stern's, another Federated division, but one that offered lower-end goods than Macy's or A&S did.
The first Brooklyn store, at 285 Fulton Street, opened in 1865 and measured 25 feet by 90 feet. Abraham Abraham, age 22, and Joseph Wechsler each contributed $5,000 for the purchase. In 1883, the firm bought the recently built Second Empire cast-iron Wheeler Building at 422 Fulton Street to be their flagship store.
On April 1, 1893, Wechsler was bought out by Nathan Straus, Isidor Straus, and Simon F. Rothschild. The Straus brothers provided the financing, but Rothschild was the active partner. The firm became Abraham & Straus. At the time, the company had 2,000 employees. Simon F. Rothschild, Abraham's son-in-law, Edward Charles Blum, and son, Lawrence Abraham, became partners in the new firm.
By 1900, the company had 4,650 employees. From the 1890s to the 1920s, A&S utilized a system of catalog store agencies across Long Island to serve customers.
In 1912, Isidor Straus, along with his wife Ida, died in the sinking of the RMS Titanic.
Around 1915, after Abraham's daughter married Isidor's son Percy Selden Straus, the Straus family divided up the empire with Nathan's family running A&S and Isidor's family running Macy's.
Beginning in 1928, the company embarked on a $7.8 million expansion of the Fulton Street Store, which included excavating a new basement without disturbing customers above. The renovated store opened October 10, just days before the Wall Street Crash of 1929. In the summer of 1929, the company joined Filene's and Lazarus to form Federated Department Stores. Bloomingdale's joined the following year. To economize during the Depression, the company began scheduling employees according to hourly sales. In addition, all employees took a 10 percent pay cut. No employees were laid off.
In 1937, Walter N. Rothschild led the company, and was president and chairman until 1955. Following Rothschild, Sidney L. Solomon became the company's first non-family president. At the time, the company had 12,000 employees.