Soundcraftsmen was a manufacturer of high-end audio stereo components located in Santa Ana, California , United States.
45-493: The company was founded in 1961 by Ralph Yeomans, a concessionaire in Fedco (a discount membership store chain in southern California, until the chain closed in 1999). Early Soundcraftsmen components included tube -type receivers and amplifiers . Ralph Yeomans and Charles Gassett, a southern California audio equipment representative and international marketing entrepreneur selling Coastron Sherwood Electronic Laboratories receivers at
90-449: A company-wide email delivered January 11. All of the 63 stores were gone from the Sam's Club website as of the morning of January 11, 2018. Walmart said that ten of the stores will become e-commerce distribution centers and employees can reapply to work at those locations. Business Insider magazine calculated that over 11,000 workers will be affected. On the same day, Walmart announced that as
135-534: A competitive disadvantage to stores that did not accept credit cards. Fedco had several locations in Southern California including: Previous locations: The Fedco Reporter was the store's catalog and magazine. Board President Robert Kee and Edward Butterworth were instrumental in establishing the Reporter . Edward Butterworth rose from company attorney to Board member to the position of CEO. The department
180-722: A former Two Guys/Jefferson Ward store located in Delran . This was Walmart's first expansion into the Northeast. The first Walmart discount store (now expanded into a Supercenter) in New Jersey opened in 1991 in Turnersville . In 1990, Sam's Wholesale Club was renamed Sam's Club, dropping off "Wholesale". The same year, the first Sam's Club opened in Pennsylvania . In 1993, Walmart acquired PACE Membership Warehouse from K-mart and converted
225-498: A full-service deli and a separate produce department. Many stores also had a tire and battery shop. The corporate buyers often found one-of-a-kind deals on miscellaneous items, including seasonal items like toys during the Christmas holiday season. The stores were tightly managed. To foster smooth operation, romantic interest between employees was discouraged, and married couples were not allowed to hold Fedco jobs concurrently. Some of
270-709: A majority of PACE locations into Sam's Club stores. Sam's Club entered the Canadian market in Southern Ontario (all but one in the Greater Toronto Area / Golden Horseshoe ) in 2003. The latest flagship club opening as of September 13, 2007 , was in Fayetteville, Arkansas . The largest Sam's Club store is located in Pineville, North Carolina , with 185,000 sq ft (17,200 m ) of retail space that
315-761: A number of cases, employees showed up to work and found the doors locked and a notice saying that the store would soon be liquidated. Walmart eventually told Business Insider that 63 Sam's Club stores would begin liquidating across the country, including in Alaska , Arizona , California , Illinois , New York , Ohio , and Texas . According to Business Insider , the closure of Sam's Club locations and plans to convert some stores into e-commerce fulfillment centers as announced in January 2018 are part of Walmart's growing commitment to online retailing that will allow it to better compete with rival Amazon . Sam Walton opened
360-518: A part of carrefour group, also operates about 50 Sam's Club locations in Brazil . Locations generally range in size from 32,000–168,000 sq ft (3,000–15,600 m ), with an average club size of approximately 134,000 sq ft (12,400 m ). Sam's Club formerly had six locations in Canada from 2006 to 2009. On January 11, 2018, Sam's Club announced the permanent closure of select stores. In
405-423: A regional chain and eventually was unable to compete with the national chains. The management tried many new ideas to keep up with competitors, such as accepting bank cards when other stores were only accepting private store credit cards, refurbishing stores, and by allowing fast food chains to open restaurants, such as Panda Express , inside select stores. The company lost $ 14 million caused by damages done to
450-549: A result of the new tax law , it would be raising Walmart starting wages, distributing bonuses, expanding its leave policies and contributing toward the cost of employees' adoptions. Doug McMillon , Walmart's CEO, said, "We are early in the stages of assessing the opportunities tax reform creates for us to invest in our customers and associates and to further strengthen our business, all of which should benefit our shareholders." On November 15, 2019, Kathryn McLay succeeded Furner as CEO of Sam's Club. McClay announced plans in 2023 for
495-469: A spinoff. On February 26, 2009, Walmart Canada announced that it would be closing all six of its Canadian Sam's Club locations. This was part of Walmart Canada's decision to shift focus towards supercentres, but some industry observers suggested that the operation was struggling in competition with Costco and the non-membership The Real Canadian Superstore (known as Maxi & Cie in Quebec ), that had
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#1733092981233540-561: A well-established history in the country. Sam's Club also rebranded the two as yet unopened locations as new Walmart Supercentres. In January 2010, it was announced that ten clubs would be closing, including four in California. At the same time, Sam's opened six new clubs at various locations in the United States. On January 24, 2010, it was announced that approximately 11,200 Sam's Club employees would be laid off. The layoffs resulted from
585-633: Is similar in concept to Costco's Business Centers. In January 2010, the company announced it would be closing its Business Center, along with nine other clubs across the United States. In Houston, Sam's Club opened Más Club in August 2009, a club geared towards the Hispanic population. Membership in Más Club was separate from membership in Sam's Club. The store eventually began a liquidation sale in December 2013, and
630-555: The United States across 45 states and Puerto Rico , with no locations in Alaska , Massachusetts , Oregon , Rhode Island , and Washington State . Sam's Club offers car wash services at gas stations in 41 locations. Sam's Club also operates 168 locations in Mexico and 45 locations in China . Grupo Big, formerly Walmart Brazil, which was de-consolidated from Walmart in August 2018 and now
675-549: The Key & Lock Shop. Fedco offered a variety of private label items, including electronics, liquor, watches and some groceries. The membership model was successful for Fedco for decades. It was common for the stores to be crowded, with long lines at checkout. A picture of a packed LA Coliseum , posted above the drinking fountain near the exit of the San Bernardino store, proclaimed, "More people shop at Fedco stores each week than
720-689: The La Cienega store during the Los Angeles riots of 1992 . Fedco filed for Chapter 11 bankruptcy in 1999, at which point it had been the longest-operating membership-based store in the country. Most of its locations were sold to the Target chain, while others (like the Escondido, California , location) were razed, and the Ontario location became the city's police department. The $ 10 lifetime membership at Fedco
765-463: The United States. In 2019, the dedicated scanning app was deprecated, and its features were incorporated into the main Sam's Club app. On February 1, 2017, John Furner replaced Brewer as CEO of Sam's Club. On January 11, 2018, Walmart announced that 63 Sam's Club locations in cities including Memphis , Houston , Seattle , and others would be closing. Some of the stores had already liquidated, without notifying employees, some employees learned by
810-528: The additional markup of a retail store. The Board of Directors, headed by Robert Kee, established the first store on Slauson Avenue in Los Angeles. Members would come into the store and find items they wished to purchase in various catalogs. As demand grew, the Board of Directors began to carry merchandise in the store. Business flourished and they took over adjoining storefronts. Under the guidance of Kee, FedScript
855-726: The articles were about minor but colorful stories in California history, and were labeled with a "California Historical" logo. Copies of the Fedco Reporter and other Fedco paraphernalia are now being maintained as part of the Fedco Superstores Inc. Collections Archived 2014-10-18 at the Wayback Machine in the Cal State L.A. University Library. Fedco predated the giant chains Walmart , Target , Kmart , Ames , and fellow membership chains Costco and Sam's Club , but remained
900-405: The attendance of the 1984 Olympic Games opening ceremonies!" There were separate registers for general merchandise, groceries and produce. At one time, purchased merchandise was placed in a bag and a color-coded tape was placed on the stapled bag. The tape color varied from day to day to prevent theft. In later years, as merchandise was bagged, the bags were stapled shut and the receipt stapled on
945-552: The cards were only checked when paying by check. Fedco's lifetime membership cost $ 10 (~$ 19.00 in 2023) in 1998. At its peak, Fedco had ten department stores plus three appliance-only stores, and served 4 million members. The management strove to make Fedco a one-stop shopping destination, similar to a hypermarket concept. The customer/member was presented with a wide variety of consumer products: camera equipment, office machines, major and minor appliances, garden supplies, clothing, jewelry, liquor and groceries. The stores also had
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#1733092981233990-592: The company in the summer of 1979, seeking higher pay as compared to members of the Retail Clerks Union . The strike was resolved after about 3 weeks. In 1994, Fedco was one of the first membership stores to start accepting bank-issued credit cards. Most discount stores of this type did not accept credit cards because transaction fees charged by the credit card transaction processors were quite high in relation to their (single-digit percent range) margins, and they would have to raise prices to compensate, putting them at
1035-400: The company to build 30 stores. She became CEO of Walmart International in 2023 and was succeeded as Sam's Club CEO by Christopher Nicholas. As of January 2024, Sam's Club used an artificial intelligence -based receipt-checking technology at 10 stores that required customers to move through a portal to verify purchases. The company announced plans to put the technology in all of its stores by
1080-410: The decision to outsource product sampling duties to an outside company (Rogers, Arkansas-based Shopper Events, which already performs in-store product demonstrations for Walmart) and to eliminate New Business Membership Representative positions throughout the chain. Most of the laid-off employees were part-time and represented about 10% of the total Sam's Club workforce. Rosalind Brewer was named as
1125-641: The departments around the periphery of the building were not Fedco businesses, but instead were concessions operated by others. For example, the Stereo Components department was run by Coastron, seller of the Soundcraftsmen line of stereo equipment. Coastron paid rent to Fedco to operate in the building. Other concessions included the Optical Department (later bought out by Fedco), the Shaver Shop, and
1170-420: The end of 2024. Like other warehouse clubs, Sam's Club sells most of its merchandise in bulk and directly off pallets . The clubs are arranged like warehouses , with merchandise stocked in steel bins. Products sold include jewelry, designer goods, sunglasses, crystal, and collectibles, electronics, floral, apparel, food, and meats. Most locations have Pharmacy, Tire and Battery, Photo (as of late 2019, photo
1215-559: The first Sam's Wholesale Club on April 7, 1983, in Midwest City, Oklahoma , 21 years after he founded Walmart. In 1987, Wal-Mart Stores purchased West Monroe, Louisiana -based SuperSaver Wholesale Warehouse Club; the purchase expanded the Sam's Wholesale Club chain by 24 locations. Prior to the acquisition, the stores were owned by Alton Hardy Howard and his son John. In 1989, Sam's Wholesale Club opened its first club in New Jersey in
1260-448: The first preamplifier/equalizer combo. Soundcraftsmen equalizers and their compact "brick" style power amplifiers gained a sizable following among audiophiles during the 1970s and 1980s. All Soundcraftsmen equalizers and amplifiers were made at the company's Santa Ana, California facility. In the early 1970s they also sold a solid-state stereo receiver, but only through the Fedco stores. It
1305-425: The government, such as social security pensions. Membership cards were required to enter a store and to use a check as payment. However, it was very difficult to restrict non-members from purchasing from the stores in cash, since the lifetime membership cards did not include photographic ID like those used by later membership stores such as Sam's Club . Anyone could borrow or take a member's card and enter. Names on
1350-524: The marketing entrepreneur, took the Soundcraftsmen equalizer, preamplifier and power amplifier nationally and internationally. It was Gassett, becoming President and CEO of Soundcraftsmen, who took the Coastron/Fedco "House Brand" from a few hundred thousand per year to a multimillion-dollar company. Gassett left in 1980 to expand his international business. In 1991, the company was acquired by MTX and
1395-408: The new CEO for Sam's Club, a change that came into effect on February 1, 2012. On January 24, 2014, it was announced that Walmart will cut 2,300 jobs at the underperforming Sam's Club locations. In 2016, Sam's Club rolled out a mobile application that allows users to scan items while they shop and pay for them, skipping the checkout line. By December 2016, the app could be used at all locations in
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1440-447: The stores were owned and operated by a not-for-profit organization that was owned by its members, who elected a board of directors. Like a credit union, store membership was legally restricted to a defined group. Over the years, the membership pool was widened to include anyone who had any relationship with the federal or local governments, as well as their employees, children, etc. It also included anyone who received regular payments from
1485-506: The time, had an interest in expanding the brand nationwide. Yeomans and Gassett decided the first product was to be an equalizer , something not already on the market. They employed an electronics engineer, Paul Rolfes, in 1968 to design the equalizer. It was introduced by Gassett at the 1969 CES in New York. National distribution started in late 1970. In the mid-1970s they introduced their line of preamplifiers and power amplifiers , including
1530-433: The top. In a precursor to the common practice at most membership clubs today, the sealed bags and receipts were checked at the exit. Fedco had an aggressive pricing model and employed "secret shoppers" to determine prices of other retailers. The Fedco price on many items ended in 87 cents to claim the lowest price, even if it was only pennies below the customary 99 cent prices of competitors. For most of its lifetime, Fedco
1575-562: Was Robert Rann. Soundcraftsmen and Coastron-sold electronic and speaker products were repaired by a technician at the Montebello warehouse. Some repairs to the Soundcraftsmen brand Lancer speakers were often done in the back room of the sales departments by the salesmen. Yeomans also owned and operated a local audio-video store in Costa Mesa, California, called Atlantic Stereo. Atlantic still operates, but has no affiliation with Yeomans. Gassett,
1620-609: Was built by Electro-Voice but shipped with a Soundcraftsmen brand faceplate; no national distribution was sought for this product. As mentioned, Yeomans operated the HiFi Stereo Components Concession in Fedco under the vendor name of Coastron. The department was an independent concession within Fedco, hiring its own staff and renting floor space. Coastron supported its Fedco operations from a warehouse in Montebello , near Los Angeles . The second in command at Coastron
1665-558: Was closed in February 2014. In October 2018, Sam's Club opened Sam's Club Now, a "mobile-first" retail store where customers use the Sam's Club Now mobile app to scan and pay for merchandise. Customers can also order items ahead of time with same-day curbside pickup at the store. The Sam's Club Now store is located in Dallas, TX. In March 2020, a Sam's Club store in Midland, Texas was the site of
1710-614: Was closed on Wednesdays, though some employees would work, re-stocking or taking inventory. During the Christmas season, Fedco was open 7 days a week to accommodate the customer surge. Fedco would sometimes require employees to work up to 10 hours a day. Working 6 days a week was possible during the summer surge and the Christmas season. Fedco employees were members of the Teamsters Union , many in Local 232 and 542. They went on strike against
1755-613: Was cut from most clubs), Bakery, Optical, Café, and Floral departments. Sam's Club consolidated its private labels under the Member's Mark brand in 2017. Sam's Club does not sell the Sam's Choice or Great Value brands that are available in Walmart stores. Sam's Club opened their first Business Center in Houston, Texas, in August 2008. Converted from an existing Sam's location, the Business Center
1800-419: Was developed. This allowed a form of "borrowing" but ensured that the funds could only be spent at Fedco. Lines included general merchandise, grocery, and, in some locations, auto services and furniture. Lifetime membership was less than five dollars for employees of the U.S. government , students, and their family members. The organization of the company was similar to that used for credit unions , in which
1845-768: Was exchanged for a $ 300 Target coupon book at the 1999 bankruptcy. The proceeds of the bankruptcy sale were placed in a trust fund intended to charitably serve communities that had hosted Fedco stores. Sam%27s Club Sam's West, Inc. ( doing business as Sam's Club ) is an American chain of membership-only warehouse club retail stores owned and operated by Walmart Inc. , founded in 1983 and named after Walmart founder Sam Walton as Sam's Wholesale Club . As of January 31, 2019 , Sam's Club ranks second in sales volume among warehouse clubs with $ 84.3 billion in sales (in fiscal year 2023), behind its main rival Costco Wholesale . As of October 31, 2023 , Sam's Club operates 599 membership warehouse clubs in
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1890-473: Was formerly an Incredible Universe . On September 24, 2006, Sam's Club unveiled a new logo with an updated serif font. In December 2007, Sam's Club launched a new slogan, "Enjoy the Possibilities". Since then,it became an official advertising slogan, mentioned in television and radio advertisements; however, it is not mentioned on its website. As of January 2008 , the "Enjoy the Possibilities" slogan
1935-502: Was no longer in use. Sam's Club launched their latest slogan "Savings Made Simple" in the fourth quarter of 2009. Starting in April 2007, there was speculation of a possible sale or spinoff of Sam's Club from parent company Wal-Mart Stores, Inc. At Walmart's 2007 annual shareholder's meeting in June, management said that Sam's Club is not for sale, although they did not say they are not considering
1980-579: Was renamed MTX Soundcraftsmen. In the mid-1990s MTX discontinued production of Soundcraftsmen components. Fedco Federal Employees' Distributing Company , known as Fedco , was a membership department store chain that operated in Southern California from 1948 to 1999. The chain was unusual in that it was a nonprofit consumers' cooperative . It was founded by 800 U.S. Post Office employees who wanted to leverage their buying power by purchasing goods directly from wholesalers, and eliminate
2025-441: Was run by art director and art department manager Sal Heredia and editor Anita McManes. The Reporter was a bi-monthly 62-page dated catalog mailed to members. There were seasonal specials and sales with themes like "Buyers' Goof Days". In addition to showcasing products, it also contained short one-column articles. Most issues contained one article about updates in federal policy that might affect federal employees. The majority of
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