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About UsHistory | Customer Testimonials | Policies | Press ReleasesJUNE 2010 - tb!s the bargain shop is celebrating 10 years of serving Canadians with a new logo and name. OCTOBER 2009 - THE BARGAIN! SHOP CHOOSES QLOGITEK TO AUTOMATE DOCUMENT EXCHANGE WITH OVER 300 VENDOR PARTNERS June 2009 – COMING IN NOVEMBER! The Bargain! Shop Holdings Inc. (tb!s the bargain shop), announces its plan to open an over 9,500 square foot new store in Wawa, ON June 2009 – The Bargain! Shop Holdings Inc. presently announces its immediate plans to relocate their store in Greenwood, Nova Scotia March 13th, 2009 - The Bargain! Shop, Canada’s Top Easter Seals National Paper Egg Campaigner In 2008, Plans To Aggressively Outperform In 2009 October 28, 2008 - Canadian Retail Chain Bucks Trend And Announces Aggressive Growth Plan August 13, 2008 - The Bargain! Shop Acquires SAAN Locations August 13 , 2008 - The Bargain! Shop new concept store tb!s the bargain shop Express Opening In Teulon, Manitoba February 22, 2008 - The Bargain! Shop to partner with Easter Seals in their 2008 Paper Egg campaign June 8, 2007 - The Bargain! Shop Is The Top National Sponsor of the Easter Seals Paper Egg Campaign November, 2006 - BARGAINS! Made Better - www.retail-merchandiser.com October 12, 2006 - THE BARGAIN! SHOP NOW CANADIAN OWNED January 13, 2005 - The Bargain! Shop Holdings Inc. Announces 20 Store Expansion Plan in 2005 October 26, 2001 - Twenty-Four New Stores Opening, Many in Former BiWay Locations December 17, 2000 - The Bargain! Shop Aims to Keep it Simple Attention: News Desk FOR IMMEDIATE RELEASE  tb!s the bargain shop is celebrating 10 years of serving Canadians with a new logo and nameMISSISSAUGA, ON, June 17, 2010 – tb!s the bargain shop is celebrating its 10 year anniversary with a new logo, one of many steps it is taking as part of its re-branding strategy.Staying with the red corporate colour the new logo design is clean and contemporary with the prominence on “tb!s” and a lesser focus on “the bargain shop”. The large exclamation mark that looks like a megaphone makes the impactful statement “tb!s has the best deals in town and we are proud to let everyone know”. Over time the company expects that the tb!s logo will become the quick identifier for its brand. The logo and new brand slogan “Fantastic Finds and Everyday Deals” expresses the company’s commitment to provide the absolute lowest prices for its customers, for fashionable items as well as everyday household essentials. “Fantastic Finds” is really what sets tb!s apart from its competition, as customers can find incredibly low prices on well known brand name items, often below the original wholesale cost. “We are very excited about our new logo and focus on tb!s,” said Michael Roellinghoff, its CEO and President. “At tb!s we carry high value products at low prices; by removing the word ‘Bargain’ as the primary name of the store we believe more people will feel comfortable shopping at our store with confidence. The added value of the name change is that it brings in a new customer base and will also reinforce our selling proposition to our existing customers” says Roellinghoff. About tb!s tb!s the bargain shop operates 248 stores from Vancouver Island to Newfoundland, and is Canadian owned and operated with headquarters based in Mississauga, Ontario. tb!s, which has been called "the best kept secret in Canadian retailing", carved out its niche by operating its extreme value format mainly in rural and smaller communities. tb!s originated as the Canadian arm of Woolworth's discount store chain and became independent in 2000. tb!s specializes in carrying brand-name everyday items 365 days a year, at savings of up to 80 percent off regular department and specialty store prices. tb!s carries a selection of products for the home (including electronics, house wares and home textiles), as well as men’s, women’s and children’s apparel. tb!s also offers footwear, food, cleaning products, as well as a large selection of toys, seasonal and health and beauty products. To learn more about the company and the products it carries, visit www.TBSstores.com For more information, please contact: Arlene Lebovic, Vice President of Marketing 905-293-7684 Attention: News Desk FOR IMMEDIATE RELEASE THE BARGAIN! SHOP CHOOSES QLOGITEK TO AUTOMATE DOCUMENT EXCHANGE WITH OVER 300 VENDOR PARTNERSMississauga, October 2009October 5, 2009 -Toronto -The Bargain! Shop Holdings Inc. (tb!s the bargain shop) has chosen QLogitek to facilitate the automation of its supply chain. The solution will enable both tb!s the bargain shop and its Vendor partners to cost effectively exchange supply chain data, thereby integrating extended procurement and fulfillment processes. Vendor partners will be able to leverage their existing investments in traditional Electronic Data Interchange (EDI) or, for those without an existing EDI infrastructure, interact with tb!s the bargain shop via a secure web-portal. QLogitek’s solution will ensure that all Vendors electronically fulfill purchase orders received from tb!s the bargain shop in a timely manner so that critical procurement and logistics data flow cleanly throughout the extended supply chain As a rapidly growing retailer with stores across Canada, tb!s the bargain shop is moving quickly to enhance its supply chain capabilities. These new capabilities reduce operating costs and cycle time for the retailer, while supporting their overall growth. tb!s the bargain shop had fully automated its Direct-Store-Delivery (DSD) process in 2005 leveraging a QLogitek solution. The new EDI and Supplier Order Management solution expands tb!s the bargain shop’ capability for distribution centre processing across all stores. tb!s the bargain shop now expects virtually all of its domestic supply chain transactions to be quickly enabled electronically with its Vendor partners. "This project is an excellent example of tb!s the bargain shop’ commitment to improving our in-store customer experience… leveraging technology which provide efficiencies that benefit, at the end of the day, all stakeholders. " said Michael Roellinghoff, President and CEO of The Bargain! Shop. "To support our growth we needed to move quickly to take advantage of the efficiencies this capability represents. We have worked closely with QLogitek on other initiatives so the decision to move forward with their proven technology and track record was an easy choice.", added Jim Caldwell, COO of The Bargain! Shop. QLogitek solutions are being used by major enterprises to extend their Enterprise Resource Planning (ERP) and Legacy systems to their global customers and trading partners and to provide clean data throughout the extended supply chain. These solutions substantially reduce inventory lead times and procurement costs while improving customer service levels. About The Bargain! Shop tb!s the bargain shop has 250 stores across Canada and is one of Canada’s fastest growing retail chains. tb!s the bargain shop sells a wide selection of items including name brands in home, apparel and footwear for the entire family. tb!s the bargain shop also sells groceries, cleaning, health & beauty products, and electronics, all at extremely low prices, everyday! The company operates stores from British Columbia to Newfoundland and is a Canadian owned and operated company based in Mississauga, Ontario. About QLogitek QLogitek is a leading Integration Solutions Provider to the Retail and Consumer Packaged Goods industries. Customers find that its solutions deliver clean data throughout the extended enterprise, resulting in impressive reduction of costs and increase in customer service levels. QLogitek solutions are delivered in a “Software-as-a-Service (SaaS)” model as well as in a traditional “on-premise” model. The company has won an enviable reputation for delivering technology-driven business results to an impressive line-up of blue chip clients including the Hudson's Bay Company, Liquor Control Board of Ontario (LCBO), Rogers Communication Inc., The Bargain! Shop, Videotron, Virgin Mobile, Sears Canada, Harlequin Enterprises, HMV and many other such organizations. For further information please contact: QLogitek Mr. Neel Sharma Senior Vice President Office: (416) 741-1595 x329 top of page Attention: News Desk FOR IMMEDIATE RELEASE The Bargain! Shop Holdings Inc. To Open The Bargain! Shop Store In Wawa, ONMississauga, June 2009 – COMING IN NOVEMBER! The Bargain! Shop Holdings Inc. (tb!s the bargain shop), announces its plan to open an over 9,500 square foot new store in Wawa, Ontario. The Grand Store Opening Celebration at 60 Broadway Avenue, will take place on Friday, November 20th. This will take the total number of locations in Ontario to 93 stores, which equals over 250 stores across Canada, making tb!s the bargain shop not only one of Canada’s fastest growing retailers, but also one of the largest privately owned General Merchandise Retailers in the country!“We are thrilled to be able to bring our extreme-value offering of quality products at everyday low prices to the people of Wawa,” says Michael Roellinghoff, President and CEO of The Bargain! Shop Holdings Inc. “We look forward to being a part of this community, saving our customers both time and money. And by offering the products people really need, close to where they live and work, we enable our customers to save gas, which in effect contributes to the environment. The fact is, our low overhead costs and buying power make it possible for us to offer some pretty extra-ordinary values.” Mr. Roellinghoff goes on to explain that tb!s the bargain shop regularly carries goods from familiar national brands such as Procter Silex, GE, Hane’s, Levi’s, Tide and Crayola, all at everyday low prices. “tb!s the bargain shop also buys selective first quality goods, end-of-lines and manufacturers’ close-outs, to supplement its extreme-value everyday offerings with extra special one-time deal-buys. These special deal-buys include many brand names that are quality products at super-hot prices. They have such incredible value, that customers shop with us regularly to catch these deals!” Paired with a fun shopping experience, stores receive new products every week, ensuring that exciting new products are constantly being added. The Bargain! Shop is also well stocked day-in and day-out on hundreds of everyday basics at the lowest prices everyday, guaranteed! The opening of The Bargain! Shop is expected to create approximately 10 full and part-time positions. For more information about the Bargain! Shop in general, or about employment opportunities, please visit www.thebargainshop.com. For more information, please contact: Michael Roellinghoff, President and CEO 905-293-9700 ext. 7698 top of page Attention: News Desk FOR IMMEDIATE RELEASE The Bargain! Shop Is Expanding Their Presence In Greenwood, NSMISSISSAUGA, ON, June 2009 – The Bargain! Shop Holdings Inc. presently announces its immediate plans to relocate their store in Greenwood, Nova Scotia. The present store located on 963 Central Avenue will remain open until Saturday, September 12th, but will be relocating to 1065 Central Avenue. The Grand Store Re-Opening Event will take place on Friday, September 25th. The Bargain! Shop invites everyone to attend the Grand Store Re-Opening Event, where they can meet and greet with the friendly, familiar faces of Karin Butt, Market Leader, and her team, while checking out the new and improved store layout, designed to create an even better shopping experience. The Bargain! Shop has been operating its store in Greenwood for a number of years and is relocating to better serve its customers, with an even larger store size - expanding from 10,000 square feet to over 12,000. tb!s the bargain shop is thrilled to be a part of the Greenwood community and have always appreciated the support of their loyal and valued customers.Canadian owned retail chain "The Bargain! Shop" is also opening 6 stores across Canada between now and the Fall, bringing the total number of extreme-value stores to just over 250 locations. "In spite of the difficult economy, or perhaps because of it, this is the best of times for extreme-value retailers like tb!s the bargain shop," according to Michael Roellinghoff, President and CEO. He added "A tougher economy means consumers are focused on quality and price more than ever, and those two elements of the value equation are at the very core of what we're all about." tb!s the bargain shop specializes in carrying brand-name everyday items 365 days a year, supplemented with seasonal and "opportunity buys" (manufacturer's over-runs and close-outs and the like), all at savings of up to 70 percent off regular department and specialty store prices, everyday. "We're not big on the old high-low price game", according to Jim Caldwell, COO of tb!s the bargain shop, preferring instead to “offer guaranteed low prices every day of the year." Generally, the chain also prefers smaller stores -- the average is roughly 11,000 square feet, about 1/8 the size of a typical power centre discount store -- which keeps their occupancy costs lower. And locating these stores in neighbourhoods where people live and work means "We're a great alternative for people who want to do their bit to help the environment and save on their fuel costs at the same time," according to Roellinghoff. A typical The Bargain! Shop store carries a selection of products for the home (including electronics, housewares and home textiles), as well as mens, ladies and kids apparel. tb!s the bargain shop also offers footwear, food, cleaning products, as well as a large selection of toys, seasonal and health and beauty products. The company operates stores from Vancouver Island to Newfoundland and Labrador, and is a Canadian owned and operated company based in Mississauga, Ontario. For more information, please contact: Michael Roellinghoff, President and CEO 905-293-9700 ext. 7698 top of page Attention: News Desk FOR IMMEDIATE RELEASE The Bargain! Shop, Canada’s Top Easter Seals National Paper Egg Campaigner In 2008, Plans To Aggressively Outperform In 2009Mississauga, March 13, 2009 – The Bargain! Shop kicks off their third annual Paper Egg Campaign with Easter Seals Canada on March 16, 2009 at 10:30 am, located at The Bargain! Shop’s Home Office at 6877 Goreway Drive in Mississauga, ON.“The Bargain! Shop’s support for Easter Seals and its community has been tremendous,” according to Max Beck, CEO of Easter Seals Canada. “During the 2008 Easter Seals Paper Egg campaign, enthusiastic employees and customers of The Bargain! Shop doubled their fundraising efforts from the previous year. Due to these efforts, more Canadians with disabilities are accessing Easter Seals’ programs and services, which provide mobility and active living opportunities. With The Bargain! Shop’s participation in the Paper Egg campaign, we look forward to another banner year.” “At The Bargain! Shop we are very excited about our third annual Easter Seals Paper Egg Campaign”, says Kim Vogel, Chair of tb!s the bargain shop Cares for The Bargain! Shop. “We’ve set a goal of raising $200,000 through the contributions from the Company, our Customers and Associates.” Between March 16 and April 12, 2009, The Bargain! Shop customers can purchase a vibrantly coloured Paper Egg for a small donation at any store location across Canada. Purchasers can write their name on this egg, which store staff will then display prominently in the store. All money donated will go towards a number of Easter Seals Programs dedicated to increasing the quality of life for Canadians with disabilities, including the widely known Easter Seals children’s’ summer camps. “The momentum of this campaign within the stores and Home Office is incredible”, says Tracey Herrington, Paper Egg Campaign Manager for The Bargain! Shop’s tb!s the bargain shop Cares. “We’ve achieved Top National Sponsor status for Easter Seals in both 2007 and 2008 and have donated a total of $223,000 collectively for the 2 years that we have supported the Paper Egg Campaign. We owe it all to the unmatched generosity of our Customers, Store Managers, Associates and Partners across Canada”. Easter Seals Canada is dedicated to serving children, youth and adults with disabilities. Over 100,000 Canadians and their families annually access programs and services provided by Easter Seal organizations across Canada. Easter Seals leads the way in building an inclusive society, triggering transformational change for people with disabilities. The Bargain! Shop has 248 stores across Canada and is one of Canada’s fastest growing retail chains, having added 74 locations in 2008. tb!s the bargain shop sells many brand-name products for the home, apparel and footwear for the entire family, as well as groceries, cleaning, health and beauty products and electronics, all at extremely low prices, everyday! For further information please contact: Kim Vogel, VP of Human Resources 905-293-7689 Email, tbscares@thebargainshop.com Michael Roellinghoff, President and CEO 905-293-7698 top of page Attention: News Desk FOR IMMEDIATE RELEASE October 28th,2008 - Canadian Retail Chain Bucks Trend And Announces Aggressive Growth PlanMississauga, ON. October 28th, 2008 - Canadian owned retail chain "The Bargain! Shop" is opening 65 stores across Canada between now and Christmas, bringing the total number of extreme-value stores operated by the former Woolworth's division to just over 250 locations. "In spite of the difficult economy, or perhaps because of it, this is the best of times for extreme-value retailers like tb!s the bargain shop," according to Michael Roellinghoff, President and CEO. He added "A tougher economy means consumers are more focused on quality and price than ever, and those two elements of the value equation are at the very core of what we're all about."The Bargain! Shop recently completed the acquisition of a number of former SAAN leases, as well as buying their intellectual property, including the SAAN name, but they will operate all of the stores under the "The Bargain! Shop" banner. The company estimates that these openings, directly and indirectly, will produce well over 1,000 new jobs. tb!s the bargain shop specializes in carrying brand-name everyday items 365 days a year, supplemented with seasonal and so-called "opportunity buys", which are manufacturer's over-runs and close-outs and the like. All at savings of up to 70 percent off regular department and specialty store prices, everyday. "We're not big on the old high-low price game", according to Jim Caldwell, COO of tb!s the bargain shop, preferring instead "to offer guaranteed low prices every day of the year." The chain also prefers smaller stores -- the average is roughly 11,000 square feet, about 1/8 the size of a typical power centre discount store -- which keeps their occupancy costs lower. And locating these stores in neighbourhoods where people live and work means "We're a great alternative for people who want to do their bit to help the environment and save on their fuel costs at the same time," according to Roellinghoff. A typical The Bargain! Shop store carries a selection of products for the home (including electronics, housewares and home textiles), as well as mens, ladies and kids apparel. tb!s the bargain shop also offers footwear, food, cleaning products, as well as a large selection of toys, seasonal and health and beauty products. The company operates stores from Vancouver Island to Newfoundland and Labrador, and is a Canadian owned and operated company based in Mississauga, Ontario. For further information please contact: Kim Vogel, VP of Human Resources 905-293-7689 Email, tbscares@thebargainshop.com Michael Roellinghoff, President and CEO 905-293-7698 top of page Attention: News Desk FOR IMMEDIATE RELEASE The Bargain! Shop Acquires SAAN LocationsMississauga, ON. August 13, 2008 - TBS Acquireco Inc., owner of The Bargain! Shop ("tb!s the bargain shop") announces today that it has entered into an Asset Purchase Agreement with PricewaterhouseCoopers Inc., as court-appointed interim receiver and receiver of SAAN Stores Ltd., to acquire as many as 93 of the former Saan locations. These stores are located in the Atlantic Provinces as well as Ontario and Western Canada, and will bring the total number of The Bargain! Shop stores to over 270 outlets, making tb!s the bargain shop one of the largest privately owned General Merchandise retailers in the country.The acquisition is subject to the Receiver obtaining an order from the Ontario Superior Court of Justice (Commercial List), approving the sale of the Assets to tb!s the bargain shop and other conditions usual for a transaction of this nature. It is expected that the closing of the transaction will occur in stages, starting on August 21, 2008, provided that Court approval has been obtained. In commenting on the purchase Mr. Michael Roellinghoff, President and CEO of The Bargain! Shop said: "The acquisition of the former Saan locations is very positive, not just for our company and the Canadian vendor community, but also for the towns where Saan has played a very important role over the years. Our goal is to re-open those stores as The Bargain! Shop locations as soon as possible, and we're hopeful that many of the former SAAN associates will consider joining tb!s the bargain shop to help us make that happen. "tb!s the bargain shop’ largest stakeholder is Genuity Capital Partners, a private equity fund whose expertise has contributed to making our extraordinary growth possible in what, for most other retailers, has been a somewhat difficult period", Roellinghoff went on to say. “And our comparable store sales are trending nicely, because consumers are shopping closer to home and, perhaps appreciate now more than ever the value offering of tb!s the bargain shop’ particular combination of brand names and low prices.” About The Bargain! Shop tb!s the bargain shop is a rapidly expanding, Canadian-owned retail chain with over 180 stores, located mainly in smaller communities and neighbourhoods across the country. They carry a wide range of brand-name, quality products for the home as well as grocery items and clothing for the entire family. Their offer is made up of a combination of everyday basic items available at everyday low prices, and extra-ordinary opportunity buys; quality products that are available for a limited time only. For more details visit www.thebargainshop.com For more information, please contact: Michelle Richmond, Marketing Manager 905-293-9700 ext. 7791 Michael Roellinghoff, President and CEO 905-293-9700 ext. 7698 top of page Attention: News Desk FOR IMMEDIATE RELEASE The Bargain! Shop new concept store tb!s the bargain shop Express Opening In Teulon, ManitobaMississauga , July2008 - The Bargain! Shop Holdings Inc., announces a new concept store called tb!s the bargain shop express, designed to bring big city deals to smaller communities. The Grand Opening Celebration will take place at 65 Main Street, Teulon, Manitoba on August 27 th, 2008 at 9AM sharp.“There is no shortage of excitement during our Grand Opening Celebrations,” explains Michelle Richmond, Marketing Manager for The Bargain! Shop and tb!s the bargain shop express. “Free lottery tickets for the first 100 customers, a ribbon cutting ceremony at 9 am, truly amazing specials in every department, free coffee and treats, and draws and prizes all day long! We care a lot about our customers, so even if customers can’t make the Grand Opening Festivities, we extend our specials for a week to make sure that they can take part in these great deals.” The Bargain! Shop is one of Canada’s fastest growing national retail chains. And tb!s the bargain shop express is their newest concept, which they are testing in Teulon to see how well they can do serving smaller communities. Like a regular The Bargain! Shop store, it will sell brand-name products for the home, as well as electronics, apparel for the entire family along with groceries, cleaning, health and beauty products… all at extremely low prices, everyday! “We are thrilled to be able to bring our extreme-value offering of quality products at everyday low prices to the people of Teulon. We look forward to being a part of your community, saving consumers here both time and money. By offering the products people really need, close to where they live, we help our customers save on gas and contribute to the environment, making it possible to shop locally and save money every day. We’re able to do this because of our low overhead costs and our 186 store buying power,” said Michael Roellinghoff, President and CEO of The Bargain! Shop Holdings Inc. Mr. Roellinghoff goes on to explain that tb!s the bargain shop sources goods from familiar national brands such as Wrangler, Kodak, Fruit of the Loom, GE, Lays, Crest, Tide, Proctor-Silex and Crayola. In addition to great everyday assortments, tb!s the bargain shop express also buys selected first quality goods from end-of-lines and manufacturers’ close-outs, to supplement its extreme-value offering with extra special one-time deal-buys. “These special deal-buys include many designer and brand names at super hot prices. They have such incredible value that customers often come in regularly just to catch these deals.” Stores receive new products every week, ensuring that exciting new products are constantly added. Paired with this fun shopping experience, tb!s the bargain shop express is well stocked day in and day out on hundred of everyday basics at the lowest prices, guaranteed. The opening of The Bargain! Shop will create approximately 10 full and part-time positions. Candidates who are interested in working full or part time, who understand that retail is all about the customer, should send their resumes to hrdept@thebargainshop.com or fax it to (905) 293-7696. For more information, please contact: Michelle Richmond, Marketing Manager 905-293-9700 ext. 7791 Michael Roellinghoff, President and CEO 905-293-9700 ext. 7698 top of page Attention: News Desk FOR IMMEDIATE RELEASE The Bargain! Shop to partner with Easter Seals in their 2008 Paper Egg campaignMississauga , February 22, 2008 - The Bargain! Shop is looking forward to another successful Paper Egg Campaign with Easter Seals Canada. “We are thrilled to have The Bargain! Shop return as a key partner in our eighth annual Easter Seals Paper Egg campaign,” says Max Beck, CEO of Easter Seals Canada. “The Bargain! Shop made its campaign debut last year, becoming the top selling National Sponsor with an astonishing $77,800 raised for Easter Seals programs and services across the country. This success is a testament to the community spirit of The Bargain! Shop’s employees and customers.”Between February 25 th and March 23 rd 2008, Bargain! Shop customers can purchase a vibrantly coloured Paper Egg for a $2 donation at any store location across Canada. Purchasers can write their name on an egg, which store staff will then display prominently in the store. All money donated will go towards a number of Easter Seals services that include, the widely known Easter Seals camp program. "At The Bargain! Shop the excitement is building around our 2008 Paper Egg campaign,” says Kim Vogel, Chair of tb!s the bargain shop Cares of The Bargain! Shop. “We feel very confident we can build on last year's success to meet our goal this year of raising $100,000 to support children with disabilities.” Easter Seals Canada is dedicated to serving children, youth and adults with physical disabilities. Almost 40,000 Canadians and their families annually access programs and services provided by Easter Seal organizations across Canada. Easter Seals leads the way in building an inclusive society, triggering transformational change for people with disabilities. The Bargain! Shop has 183 stores across Canada and is one of Canada’s fastest growing retail chains, having added 18 locations in 2007 and with plans to add another 17 stores in 2008. tb!s the bargain shop sells many brand-name products for the home that includes electronics, as well as apparel for the entire family, groceries, cleaning and health and beauty products, all at extremely low prices, everyday! For more information, please contact: Michelle Richmond, Marketing Manager 905-293-9700 ext. 7791 Michael Roellinghoff, President and CEO 905-293-9700 ext. 7698 top of page Attention: News Desk FOR IMMEDIATE RELEASE The Bargain! Shop Is The Top National Sponsor of the Easter Seals Paper Egg CampaignMississauga , June 8, 2007 - Easter Seals Canada announced in their April newsletter that The Bargain! Shop raised over $70,000 in its stores across Canada, making it the top national sponsor of the Paper Egg Campaign. Easter Seals Canada is dedicated to serving children and adults with physical disabilities. Almost 40,000 Canadians and their families annually access programs and services provided by Easter Seal Organizations across Canada. Easter Seals leads the way in building an inclusive society, triggering transformational change for people with disabilities. The Paper Egg Campaign is a national marketing and fundraising campaign that is a decorative reminder of Easter and the community support of Easter Seals. During the three to four weeks leading up to Easter, participating retailers, like The Bargain! Shop, encourage customers to purchase and write their names on Paper Eggs, which store staff display in their store windows and walls. “We cannot thank The Bargain! Shop enough for its enthusiasm in our annual Easter Seals Paper Egg Campaign,” says Max Beck, CEO of Easter Seals Canada. “We are thrilled to partner with The Bargain! Shop which is clearly committed to serving the communities in which it operates. Easter Seals looks forward to working with The Bargain! Shop in the future.“It is amazing and inspiring to see the impact that our loyal customers, committed Associates and Company can have in raising funds for such a worthwhile cause such as Easter Seals,” says Pam Ross, Training & Development Manager for The Bargain! Shop. “We are very delighted to be able to make this valuable donation possible.” The Bargain! Shop is one of Canada’s fastest growing retail chains, having added 25 new locations in 2006 with plans to expand to 18 new stores in 2007. tb!s the bargain shop sells brand-name products for the home that include electronics, as well as apparel for the entire family, plus groceries, cleaning, health and beauty products, all at extremely low prices, everyday! For more information, please contact: Michelle Richmond, Marketing Manager 905-293-9700 ext. 7791 Michael Roellinghoff, President and CEO 905-293-9700 ext. 7698 top of page Attention: News Desk FOR IMMEDIATE RELEASE BARGAINS! Made BetterNOVEMBER 2006 RETAIL MERCHANDISER – WWW.RETAIL-MERCHANDISER.COMWith careful store placements and low prices, The Bargain! Shop shines and competes with the big guys. In 1998, Canada’s The Bargain! Shop was a floundering 128-store chain owned by F.W. Woolworth and Co. The previous year, its famous owner had decided to exit general merchandise and convert itself to a sporting goods retailer, renaming itself Venator. (In 2001, the transformation would be complete with another new name—Foot Locker Inc.) The Bargain! Shop, a traditional discount merchant, became a low priority. Investments in its infrastructure were insufficient, and technology was limited. Many stores were no longer profitable. Increasingly, the burden of being an unwanted property took its toll on employees. When The Bargain! Shop was acquired by investors in 1999, employees welcomed the shift. “We had a lot of support amongst associates even though it was a leveraged buy-out,” says Michael Roellinghoff, who has been CEO since the sale. “That energy and devotion is what allowed us to succeed.” Although The Bargain! Shop’s success is thanks in large part to employee dedication (an increasingly rare feature in retail—see “Super-Friendly Service,” page 37), Michael Roellinghoff made significant changes to transform The Bargain! Shop into a formidable presence in Canadian retail. Among these changes: a reorganization of store locations, a shift in buying strategies, a progressive employee bonus plan, and ultimately, an ambitious expansion. “Internally, our biggest challenge is to maintain the culture of The Bargain! Shop in a fastgrowth environment. Our challenge in the marketplace is to be able to continue to thrive and grow in an increasingly competitive general merchandise retail landscape,” says Clinton Wolff, vp and cfo. Today, the Toronto-headquartered chain is 160 stores strong and present in every Canadian province but Quebec. It is growing at a steady clip of 20% per year, and Roellinghoff plans to expand the business to 300 stores in the next three to five years. But in 1999, his first move was to reduce store count to 85, eliminating cash-flow negative locations while focusing on smaller markets. THE SWEET SPOT: AWAY FROM WAL-MART “Towns with populations of 5,000 to 25,000 are our sweet spot,” says Roellinghoff. “We leverage our locations so that customers generally live within 10 minutes of our stores, whereas on average it takes a half hour or more for The Bargain! Shop customer to get to a larger discount chain.” In recent years, this principle— seek out neighborhood pockets absent of big chains—has been applied to markets beyond smalltown Canada. Almost a third of Bargain! Shops are now located in large, mainly under-served urban markets. According to Roellinghoff, Canada has become more urbanized, surpassing even the United States in its proportion of city-dwellers. “That’s a large part of the reason why we’ve moved to urban neighborhoods in recent years,” says Roellinghoff. “And they seem to welcome Bargain! Shops opening in their areas.” Another reason: in downtown neighborhoods, customers are often isolated from big box retailers. “We trade on convenience,” says Wolff. “Our urban customers are choosing us rather than the excursion to a regional mall or power center.” Even in the largest markets, The Bargain! Shop has its eye on the “sweet spot.” Urban markets present more competition from other mid-tier retailers, like Giant Tiger and Saan Stores, but they also have more potential customers to draw upon. Higher margins and operating costs are rationalized by larger volumes and lower freight costs, making these stores as profitable as rural ones. FINDING ITS NICHE “As a general merchant within Canada, we compete a little bit with everyone,” says Roellinghoff, “But being value oriented, our customers see us as an alternative to the larger general merchandise players—Wal-Mart, of course, being the most significant one.” At the time of the Bargain! Shop’s acquisition, analysts expressed concerns that the mid-level discount tier, set precariously below the mega-efficient “big chains,” had never been properly exploited. This would become one of the company’s biggest challenges. Why should customers shop at The Bargain! Shop when they could shop at Wal-Mart or Zellers? Roellinghoff admits that his stores cannot compete with the assortment or supply chain efficiencies of its larger competitors, but he points out that The Bargain! Shop does offer distinct advantages. The chain’s smaller store sizes, for example, are often preferable to time-pressed shoppers. “For many people, it makes more sense to get the same items [sold at a larger discount chain] within a 10,000- square-foot-box, where they can be in and out of the store within five minutes,” he notes. The other distinction, and one of the cornerstones of The Bargain! Shop formula, is an opportunity-buy strategy that generates a large portion of the product mix. Closeout items, often regionally-focused or specialty products like drill sets, camp chairs and apparel, are purchased on a deal-buy basis and offered at below-market prices. “The value proposition of our opportunity-buy strategy cannot be understated; it allows us to offer unusual values on a significant portion of our offerings,” explains Roellinghoff. “Customers often see items priced lower than in the large department and discount stores.” In fact, customers can be sure they will get the lowest prices at The Bargain! Shop—it’s guaranteed. Where assortments overlap with direct competitors, stores are mandated to match everyday local prices, researching them on a regular basis. If a customer finds a lower advertised price, The Bargain! Shop adjusts its pricing to beat it by 10%. “While we prominently advertise and publicize this, we are very rarely caught with our pants down, so to speak,” says Roellinghoff. “When we are, we thank our customers because it gives us additional information about the marketplace.” Although the deal-buy strategy means that “the majority of the store is changing virtually weekly,” stores still maintain consistency. “We have specific departments, categories and sub-categories that we offer and choose not to offer,” explains Roellinghoff, “So if a customer walks into our store, she will see consistent assortments, although the items within those assortments will change.” Dominant categories are soft lines (clothing and footwear for the family), hard-lines (toys, electronics, linens, housewares and giftware) and consumables (basic foods, cleaning supplies, HBC and confectionary) in roughly equal proportions. The highest volume sub-departments are basic foods, candy, electronics, toys and men’s fashions. Although some stores offer convenience foods like milk and bread, the chain generally steers clear of fresh and frozen foods. No sub-department represents more than 10% of sales. (“We are truly a general merchant,” notes Clinton Wolff.) The basics, like toothpaste and underwear, are mainly continuity items and the leading brands are offered at everyday low prices. “Bringing in more quality products on a continuity basis was a major initiative after the acquisition,” Roellinghoff remarks. “Our value proposition is a combination of convenience, quality and price. We are able to do this by mixing the deal and opportunity buys with continuity assortments of basic, everyday products.” In adopting an EDLP policy, the chain was also able to cut costs by halving the number of sales flyers sent out each year. (There were 48 in 1998.) A new focus on technology was another important postacquisition change. The chain has implemented new planning systems in the last two years, and it recently introduced handheld EDI scanners to most of its stores. This investment in information technology marks a new era for The Bargain! Shop, which lacked POS systems prior to the sale. “We have become very aggressive in our investment in front and back end systems,” boasts Roellinghoff. “They are close to state of the art.” KNOW THY CUSTOMER The Canadian customer is distinct from the American one. Canada’s middle class, which is proportionally larger than that of the United States, also has about 30% less discretionary income. As a result, Canadians tend to be more calculated and practical in their choices, and they are less prone to impulse buying. “The aspect of buying something durable, that they can trust and rely on, is very important,” says Roellinghoff. The chain helps foster this trust with a lenient return policy that allows customers to return unused items at any time, regardless of the sale date. The Bargain! Shop has a clearly defined customer: mature and female; a baby boomer with older teenagers in the house or an empty nest, and resolutely middle-class. “She is more value-conscious and less excited about the shopping experience in general,” he explains. “She is biased towards quality and convenience.” The chain is ever-evolving to meet her needs. In apparel, precedence is given to overall value and basic fashion over trends. Plus and Missy sections, which are most popular with Baby Boomers, have been expanded. In fulfilling the customer’s desire for quality, national brands have become more of a focus, especially in apparel. (The overall product mix is approximately 60% national brands and 40% private label). A new small furniture category and expanded giftware and consumer electronics sections are additions that reflect consumer demand. Improving the shopping environment was another key change after the acquisition. “We are striving to be a customer- oriented organization,” says Andrew White, vp merchandising and marketing. “One of the things we learned in our market research is that our stores were physically not easy to shop in. So for the past few years, we have been designing new stores with wider aisles and better display fixtures. We are also stepping up our program to renovate or relocate our older stores to make them more shoppable. And we are focusing on improving our external and internal signage.” White notes that store sizes can also be a limitation. On average, Bargain! Shops are 8,500 SF. This precludes the chain from carrying many large items—most furniture, for example—and it also limits assortment range. Generally, stores are limited to a “good-bet- ter” assortment; only larger properties add “best” to the mix. The ideal location for a new Bargain! Shop is a larger, approximately 10,000 SF space in the downtown area of a small community, near banks and other retailers. Free-standing stores and stores in strip malls are preferred. Almost all locations are leased. “This gives us some flexibility in terms of where we invest our capital,” says Roellinghoff. “That might not be our strategy forever, but in the foreseeable future I see it staying that way.” THE BARGAIN! SHOP CREDO “Our philosophy is built on three foundations,” says Roellinghoff. “First, we are people oriented. That refers to our internal constituency as well as our customers. Secondly, we are information driven, not just in terms of technology, but also in the way we make our decisions. We have a logical and strategic foundation when it comes to decision making. Lastly, we are results oriented.” The philosophy is working. The chain’s annual sales are approaching one-quarter billion— almost double what they were in 2000, the company’s first full year. “I see a potential in the Canadian marketplace for a junior discounter to emerge in the dominant role, and I think The Bargain! Shop can be that discounter,” Roellinghoff concludes. “Our specific business model and our discipline as an organization to execute it makes me feel quietly optimistic that we’ll be the dominant player.” Meanwhile, the chain continues its expansion, bringing its blend of value and convenience to Canadians in every region. For more information, please contact: Michelle Richmond, Marketing Manager 905-293-9700 ext. 7791 Michael Roellinghoff, President and CEO 905-293-9700 ext. 7698 top of page Attention: News Desk FOR IMMEDIATE RELEASE THE BARGAIN! SHOP NOW CANADIAN OWNEDMississauga , October 12, 2006 – The Bargain! Shop, a fast growing chain of extreme-value, general merchandise stores with locations across Canada, announced today that a group led by a Toronto-based private equity firm and members of the Management of the company, led by CEO Michael Roellinghoff, have purchased all outstanding shares from its previous controlling shareholders, led by Banyan Capital Group LLC.Headquartered in Mississauga, Ontario, The Bargain! Shop stores offer both brand-name and private-label first quality merchandise across a broad selection of product categories, including basic consumables, hard-goods and apparel. Since a management buy-out in 1999, from what was once the F.W. Woolworth Company, The Bargain! Shop has grown from 85 to 154 locations and is a leading general merchandise retailer, serving mainly value conscious middle-income consumers. The Company's stores are located in secondary and tertiary markets, and in under-served urban neighborhoods. It operates stores in all provinces except Quebec. "We are confident in our business plan and in the growth potential of tb!s the bargain shop, and we're delighted that we were able to attract a Canadian equity fund to take a controlling interest in the company." said Mr. Roellinghoff. "Our new partnership will strengthen our resources to support the further expansion of The Bargain! Shop across the country, bringing our blend of value and convenience to more and more Canadians." Terms of the transaction were not disclosed. For more information, please contact: Michelle Richmond, Marketing Manager 905-293-9700 ext. 7791 Michael Roellinghoff, President and CEO 905-293-9700 ext. 7698 top of page Attention: News Desk FOR IMMEDIATE RELEASE The Bargain! Shop Holdings Inc. Announces 20 Store Expansion Plan in 2005Mississauga , January 13, 2005 - The Bargain! Shop Holdings Inc. Announces 20 Store Expansion Plan in 2005The Bargain! Shop Holdings Inc. which owns and operates The Bargain! Shop stores, announces today that it will expand dramatically by adding 20+ new locations over the year. The Bargain! Shop, formerly part of Footlocker (previously called Woolworth Canada Inc.), became independent with 85 stores in 1999 and currently operates 123 general merchandise retail stores across Canada. This planned expansion is in addition to the seven stores The Bargain! Shop opened in the fall of 2004 and will involve new locations in mainly smaller to mid sized communities across Canada. While The Bargain! Shop’s current portfolio contains stores of varying sizes, the targeted size for new stores is approximately 10,000 square feet. “We have identified a number of markets where we would like to have new locations but are always interested to hear about any attractive real estate opportunities.” said Bill Haust, VP Real Estate of The Bargain! Shop Holdings Inc. “One of the important elements with significant expansion is finding the right people to work in our stores.” said Helga Vella, HR Manager of The Bargain! Shop Holdings Inc. “If you work in retail you have to love working with people and with the addit tion of 20 stores, we’ll be looking for 20 store managers and about 200 full and part time people with the right customer-oriented attitude.” The Bargain! Shop carries a variety of merchandise including; seasonal products, toys, food, bed & bath items, housewares, cleaning products, health & beauty products, candy as well as clothing & footwear for the whole family. For more information, please contact: Michelle Richmond, Marketing Manager 905-293-9700 ext. 7791 Michael Roellinghoff, President and CEO 905-293-9700 ext. 7698 top of page Attention: News Desk FOR IMMEDIATE RELEASE Twenty-Four New Stores Opening, Many in Former BiWay LocationsMississauga , October 26, 2001 – The Bargain! Shop Holdings Inc. announces today that it plans to open 24 new stores by the end of November 2001. This expansion brings the number of Bargain! Shop stores to 112. Most of the new stores were, until recently, operated by Dylex as part of the BiWay chain. All of the new stores are located in Ontario and Eastern Canada and will create approximately 250 jobs, mainly in smaller and mid-sized communities.The Bargain! Shop, which has been called "the best kept secret in Canadian retailing", carved out its niche by operating its extreme value format in mainly rural and smaller communities. The Bargain! Shop originated as the Canadian arm of Woolworth's discount store chain and became independent in 1999. "Fortunately, we have not experienced the same disappointing sales results as reported by some others in the retail sector." said Michael Roellinghoff, President and CEO of The Bargain! Shop Holdings Inc. "Our stores offer the same range of merchandise as BiWay did and these new locations were successful BiWay stores. Therefore, with the knowledge that our format should be successful in our new markets, the timing of this aggressive rate of expansion is right." The Bargain! Shop carries a variety of merchandise including; seasonal products, toys, food, bed & bath items, housewares, cleaning products, health & beauty products, candy as well as clothing & footwear for the whole family. The Bargain! Shop, part of The Bargain! Shop Holding Inc., currently operates 88 stores across Canada. The Bargain! Shop offers great value with quality products at everyday low prices. For more information, please contact: Michelle Richmond, Marketing Manager 905-293-9700 ext. 7791 Michael Roellinghoff, President and CEO 905-293-9700 ext. 7698 top of page Attention: News Desk FOR IMMEDIATE RELEASE The Bargain! Shop Aims to Keep it Simpleby Zena Olijnyk - Financial PostMississauga , December 17, 2000 – As The Bargain! Shop sets out on a course apart from its previous owner - the legendary retailer once known as Woolworth Corp. - the discount chain's new head has no illusions about its future. "We're a modest operation," says Mike Roellinghoff, cheif executive of the 85-store chain, which was recently sold by Venator Group Inc. to a group of investors that includes the chain's management. (Venator changed its name from Woolworth in 1997 in a bid to lose its five-and-dime image.) "Our mission is to keep things simple, not try to compete with the much larger discount chains." Part of this new mission, says Mr. Roellinghoff, is to give Bargain! Shop a frest start by concentrating on small-town Canada and creating a more focused assortment for customers, making it the convenient alternative to travelling to a larger discounter. "We have to understand who our customer is, and serve them better," he says. Bargain! Shop is one of a number of discount chains that has suffered by being sandwiched between large discounters, such as Wal-Mart and Zellers, and the dollar stores, such as A Buck or Two. The BiWay chain is in a financial mess that has hurt its parent, Dylex Ltd. Recently, after a $25-million writedown as a result of inventory and distribution problems at BiWay, Dylex announced it was selling the discount chain (with sales of about $600-million) and its other banners. Saan Stores, owned by Winnipeg-based Gendis Inc. and with annual sales of about $400-million, was also up on the auction block until late last year. With no takers, management decided to close more stores and continue trying to fix problems at the remaining 240 stores. Bargain! Shop, with its hodge-podge of store locations in urban, suburban and rural areas, also felt the impact of the larger discounters, prompting Venator to put the chain up for sale. Similar chains, such as Family Dollar and Dollar General, are doing brisk business in the United States. So Mr. Roellinghoff believes "at least one of us up here can get our act together and retain in this market the way it needs to be done. We have to be ready to change and adapt to the reality of the market place." Under the management and investor buyout completed in December, the Bargain! Shop, with annual sales of about $100-million, will be reduced to an 85-store chain from 128. Mr. Roellinghoff said the stores that remain are "cash-flow positive" and are concentrated in smaller markets. Retain waters suggest that while there probably is a market for a discount shopping tier below the Wal-Mart of Zellers level, the three main players, Bargain! Shop, BiWay and Saan, have yet to find a way of exploiting it. There has been speculation that a merger of two, if not all three, chains would create a national discount chain with annual sales of about $1.1-billion. David Brodie, an analyst at CIBC World Markets, wonders whether this would be simple "taking two or three problem chains and making one bigger problem chain," while others suggest it could make sense to join their buying power, distribution and national scope. This could also attract a U.S. player. "There may be room for one national discount chain if they can do it right," says Richard Talbot, a retail consultant. For his part, Mr. Roellinghoff acknowledges only that there's "a lot of flux" in the discount sector, and "wouldn't necessarily disagree" with the observations being made. "But whether there is a role for us in this, I can't say." George Hartman with Dundee Securities Corp. also suggests there is room for discounters at the level of Bargain! Shop. "But basically what you have to do is create the market for yourself, make yourself necessary to shoppers," he says. "There's no use competing with the likes of Wal-Mart or Zellers if you don't have the resources fo the plan." Mr. Roellinghoff agrees, saying the strategy is to concentrate on small-town Canada, where a store such as Bargain! Shop will be the only game in town. "Right now, there are at least 600 communities with a population of less than 10,000," he says. "Our focus is on that market, and trying to make ourselves important and convenient." However, observers note that those trying to concentrate on small-town Canada will have to keep an eye on Wal-Mart, which is looking at developing a prototype for a store serving small towns. It's already testing the concept in Kapuskasing, Ont., a northern town with a population of 10,000.. For more information, please contact: Michelle Richmond, Marketing Manager 905-293-9700 ext. 7791 Michael Roellinghoff, President and CEO 905-293-9700 ext. 7698 |
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