X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ORLANDO-Scotty’s Inc., a 77-year-old, privately-held home improvement merchant, is going back to basics and phasing out its 18 months-old soft goods Bargain Outlet division.

The Winter Haven, FL-based retailer is giving the estimated 25,000 sf of space in each store back to the company’s core hardware business. Hardware and Bargain Outlet shared space in the same building locations. Winter Haven is 50 miles southwest of Downtown Orlando.

Scotty’s officials couldn’t be reached at GlobeSt.com’s publication deadline. But area retailers following the Bargain Outlet’s performance tell GlobeSt.com on condition of anonymity poor sales and a low traffic count caused Scotty’s to fold the new division.

Scotty’s hasn’t announced a timetable for closing all the Bargain Outlets and also hasn’t disclosed how many of its 85 active stores in Florida and Georgia share space with the soft goods division.

In Orlando, the company is shuttering Bargain Outlets on North Orange Blossom Trail and South Semoran Boulevard, and a South Florida location in Stuart, FL.

The company doesn’t disclose financials but trade publications estimate Scotty’s 1999 gross revenue at $500 million. Scotty’s at one time had 2,500 employees in 150 stores in Florida, Georgia and Alabama. Annual revenue generated per employee was projected at $200,000, according to the trade press.

Scotty’s has been fighting hard for market share over the last eight years, competing against Lowe’s and Home Depot. Thomas E. Morris, Scotty’s chairman/CEO, and a management team bought the company from GIB Group in 1998 for an undisclosed amount.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.