- The Treasury (retailer)
Infobox_Company
company_name = The Treasury
company_
company_type = Discount Department Store
foundation = 1962
location = Unknown
industry =Retail
products =Clothing ,footwear , bedding,furniture ,jewelry , beauty products,electronics and housewares.
homepage = NoneThe Treasury was a chain of
discount store s owned byJ.C. Penney . Through an acquisition of the General Merchandise Company in 1962, J.C. Penney entered the discount store market by launching The Treasury.The General Merchandise Company, which began Treasure Island, was founded by David Kritzik and his two sons, Robert and Stanley, in Milwaukee, WI. The original stores were named Treasure Island, but because of trademark and copyright conflicts, some of the stores that were subsequently opened, were called The Treasury. In 1962, J.C. Penney was looking to break into the catalogue business, and used their acquisition of the Treasure Island brandname to do so.
Eventually the chain had locations in most
Southern U.S. states andCalifornia . Therecession s of the 1970s and early 1980s were too much to bear for J.C. Penney, and by then the division was losing money. The discount stores were closed around 1981. However, the real reason for the acquisition of Treasure Island, was for J.C. Penney to enter into the catalogue business, which today, is a thriving, multi-billion dollar endeavor.The
roof architecture of The Treasury and Treasure Island stores is unique, having azig-zag pattern that was very prominent both inside and outside. This is reflected in the storelogo . The original advertising slogan referred to the stores as, "Under the squiggly roof."Home Depot started some of its first stores in these buildings, as it was around the time which many were closing.Some stores also sold food similar to
Wal-Mart Supercenter .Treasury Drug
The company branched out into drug stores, located in many Southern states, as Treasury Drug. Treasury Drug survived into the 1990s when J.C. Penney acquired
Eckerd and converted remaining Treasury Drug locations into Eckerd stores. J.C. Penney sold the Eckerd chain to CVS andJean Coutu Group of Canada in 2004. CVS got roughly 1200 Eckerd stores in the Southern United States, whileJean Coutu Group got approximately 1500 Eckerd stores in the Northeastern United States. In 2007, all Eckerd stores were rebrandedRite Aid .Gallery
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