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Montgomery Ward
Montgomery Ward is the name of two successive U.S. retail corporations. The original Montgomery Ward & Co. was a mail-order business and later a department store chain that operated between 1872 and 2001; its common nickname was "Monkey Wards". The current Montgomery Ward Inc. is an online shopping and mail-order catalog retailer that started several years after the original Montgomery Ward shut down.
Aaron Montgomery Ward started his business in Chicago; conflicting reports place his first office either in a single room at 825 North Clark Street or in a loft above a livery stable on Kinzie Street, between Rush and State Streets.
In 1883, the company's catalog had grown to 240 pages and 10,000 items. In 1896, Ward encountered its first serious competition in the mail order business, when Richard Warren Sears introduced his first general catalog. In 1900, Ward had total sales of $8.7 million, compared to $10 million for Sears, and both companies vied for dominance during much of the 20th century. By 1904, Ward had expanded such that it mailed three million catalogs, weighing 4 lb (1.8 kg) each, to customers.
In 1908, the company opened a 1.25-million-square-foot (116,000 m2) building stretching along nearly one-quarter mile of the Chicago River, north of downtown Chicago. The building, known as the Montgomery Ward & Co. Catalog House, served as the company headquarters until 1974, when the offices moved across the street to a new tower designed by Minoru Yamasaki. The catalog house was declared a National Historic Landmark in 1978 and a Chicago historic landmark in May 2000.
In the decades before 1930, Montgomery Ward built a network of large distribution centers across the country in Baltimore, Fort Worth, Kansas City, Oakland, Portland, and St. Paul. In most cases, these reinforced concrete structures were the largest industrial structures in their respective locations. The Baltimore Montgomery Ward Warehouse and Retail Store was added to the National Register of Historic Places in 2000.
In 1926, the company broke with its mail-order-only tradition when it opened its first retail outlet store in Plymouth, Indiana. It continued to operate its catalog business while pursuing an aggressive campaign to build retail outlets in the late 1920s. In 1928, two years after opening its first outlet, it had opened 244 stores. By 1929, it had more than doubled its number of outlets to 531. Its flagship retail store in Chicago was located on Michigan Avenue between Madison and Washington streets.
In 1930, the company declined a merger offer from rival chain Sears. Losing money during the Great Depression, Ward alarmed its major investors, including J. P. Morgan, Jr. In 1931, Morgan hired a new president, Sewell Avery, who cut staff levels and stores, changed lines, hired store rather than catalog managers, and refurbished stores. These actions allowed the company to become profitable before the end of the 1930s.
Ward was very successful in its retail business. "Green awning" stores dotted hundreds of small towns across the country. Larger stores were built in the major cities. By the end of the 1930s, Montgomery Ward had become the country's largest retailer, and Sewell Avery became the company's chief executive officer.
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Montgomery Ward
Montgomery Ward is the name of two successive U.S. retail corporations. The original Montgomery Ward & Co. was a mail-order business and later a department store chain that operated between 1872 and 2001; its common nickname was "Monkey Wards". The current Montgomery Ward Inc. is an online shopping and mail-order catalog retailer that started several years after the original Montgomery Ward shut down.
Aaron Montgomery Ward started his business in Chicago; conflicting reports place his first office either in a single room at 825 North Clark Street or in a loft above a livery stable on Kinzie Street, between Rush and State Streets.
In 1883, the company's catalog had grown to 240 pages and 10,000 items. In 1896, Ward encountered its first serious competition in the mail order business, when Richard Warren Sears introduced his first general catalog. In 1900, Ward had total sales of $8.7 million, compared to $10 million for Sears, and both companies vied for dominance during much of the 20th century. By 1904, Ward had expanded such that it mailed three million catalogs, weighing 4 lb (1.8 kg) each, to customers.
In 1908, the company opened a 1.25-million-square-foot (116,000 m2) building stretching along nearly one-quarter mile of the Chicago River, north of downtown Chicago. The building, known as the Montgomery Ward & Co. Catalog House, served as the company headquarters until 1974, when the offices moved across the street to a new tower designed by Minoru Yamasaki. The catalog house was declared a National Historic Landmark in 1978 and a Chicago historic landmark in May 2000.
In the decades before 1930, Montgomery Ward built a network of large distribution centers across the country in Baltimore, Fort Worth, Kansas City, Oakland, Portland, and St. Paul. In most cases, these reinforced concrete structures were the largest industrial structures in their respective locations. The Baltimore Montgomery Ward Warehouse and Retail Store was added to the National Register of Historic Places in 2000.
In 1926, the company broke with its mail-order-only tradition when it opened its first retail outlet store in Plymouth, Indiana. It continued to operate its catalog business while pursuing an aggressive campaign to build retail outlets in the late 1920s. In 1928, two years after opening its first outlet, it had opened 244 stores. By 1929, it had more than doubled its number of outlets to 531. Its flagship retail store in Chicago was located on Michigan Avenue between Madison and Washington streets.
In 1930, the company declined a merger offer from rival chain Sears. Losing money during the Great Depression, Ward alarmed its major investors, including J. P. Morgan, Jr. In 1931, Morgan hired a new president, Sewell Avery, who cut staff levels and stores, changed lines, hired store rather than catalog managers, and refurbished stores. These actions allowed the company to become profitable before the end of the 1930s.
Ward was very successful in its retail business. "Green awning" stores dotted hundreds of small towns across the country. Larger stores were built in the major cities. By the end of the 1930s, Montgomery Ward had become the country's largest retailer, and Sewell Avery became the company's chief executive officer.
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