Infobox_Defunct_Company | company_name = Proffitt's, Inc.| company_| fate = Acquired by
foundation = 1919| defunct =
March 8, 2006
Alcoa, Tennessee| industry = Retail| products = Clothing, footwear, bedding, furniture, jewelry, beauty products, housewares| homepage = None|
Proffitt's was a department store chain based in
Alcoa, Tennessee. On March 8, 2006, the Proffitt's and McRae'sstores were converted into Belkstores. Belk acquired the two chains in July 2005 from Saks Incorporated.
D.W. Proffitt and James Ellis founded the Ellis-Proffitt Co. on Main Street in downtown Maryville,
Tennessee, in 1919. The first store had seven department consisting of ladies ready-to-wear, ladies accessories, millinery, men's shoes, dry goods, and bargain basement. Ellis sold his share of the company to Proffitt in 1921 due to illness. The company expanded by opening its second store in Athens, Tennesseein 1936. In the 1960s, the Maryville store moved from downtown to Midland Plaza in Alcoa. In 1982 the store relocated again to Foothills Mall in Maryville where 2 stores remained until the Belk acquisition, one for Women and the other for Men, Kids, and Home. A warehouse and distribution center opened in Maryville in 1970. A location in Knoxville opened in 1972 in West Town Mallwith an Oak Ridge store following in 1974. A second Knoxville store was added in 1984 at East Towne Mall (now Knoxville Center). Also in 1984 the family-owned company was acquired by RBM Acquisition Co led by R. Brad Martin.
Proffitt's Inc. went public on
July 3, 1987on the NASDAQ market under the symbol PRFT. [http://www.saksincorporated.com/aboutus/ Saks, Inc. History] , Saks, Inc. website, accessed July 17, 2008] The West Town Malllocation in Knoxville was expanded to convert|122000|sqft|m2|-2 later that year making it the largest store in the chain. Proffitt's purchased the Chattanoogabased Loveman's Department Store adding four Chattanooga stores and one in Dalton, Georgia, its first location outside of Tennessee. A new convert|80000|sqft|m2|-3 store opened in Biltmore Square Mallin Asheville, North Carolina in 1989, bringing the total stores to eleven. The 1992-1993 years saw a number of acquisitions making Proffitt's one of the fastest growing retailers in the US. During that time, the company purchased 18 Hess'slocations in Tennessee, Virginia, Kentucky, and Georgia. Some of these locations were formerly Miller's of Tennesseestores. This added new stores in Rome, Georgia; Elizabethtown and Ashland, Kentucky; Bristol, Virginia; and Kingsport and Johnson City, Tennessee. In early Fall 1992, just shortly before the Hess's purchase was completed, a new Proffitt's store opened in The Mall at Johnson Cityin the company's entry into the Tri-Cities market. The Hess's purchase led to a dual-store format in the mall, similar to the one in the Foothills Mall in Maryville. In Johnson City, once the Hess's store was vacated and renovated, the Men's and Home Stores were moved to that building, leaving Women's and Children's in the newly constructed Proffitt's building.
Acquisitions of McRae's and Parks-Belk
Proffitt's purchased the
Jackson, Mississippibased McRae'schain in 1994. The McRae's stores, unlike the previous acquisitions, would continue to operate under their nameplate and operational division In 1995, Proffitt's purchased Parks-Belk, an independently owned affiliate of Charlotte, North Carolinabased Belk, Inc. This purchase gave Proffitt's a presence for the first time in Greeneville, Tennessee, and gave the company an additional store in each mall in Kingsport and Johnson City. A Parks-Belk location in Morristown, Tennesseewas part of the deal, but the store was closed instead of being converted to a Proffitt's. The Johnson City Proffitt's was already operating under the dual location concept and this gave the company three stores in the same mall. The former Hess's store (now home to Goody's Family Clothing) which housed the Men's and Home Store was vacated and relocated to the former Belk site along with the Children's department. This move created the largest Proffitt's Men's Store in the company and allowed the Women's department its own store. The former Hess store in the Fort Henry Mallin Kingsport was transformed into the largest Proffitt's Home Store, with all other departments remaining in the former Parks-Belk location. Proffitt's would later open stores in Spartanburg, South Carolina, Morgantown and Parkersburg, WV, and they would eventually build a new store at College Square Mallin Morristown, Tennessee.
Acquisitions of Parisian, Younkers and Carson Pirie Scott
Birmingham, Alabama, based
Parisianand Younkersof Des Moines, Iowa, were both acquired in 1996 and retained their names and operating units. Herberger'swas purchased in 1997 and kept its nameplate and the company moved from the NASDAQ to the NYSE and began trading under the PFT symbol. The company purchased the Carson Pirie Scottchain in 1998 which also consisted of Boston Storeand Bergner'sand they continued to operated those store under their respective names. Later in 1998, the company purchased North Carolina based Brody'sand those stores were converted to the Proffitt's name. 1998 also saw Proffitt's acquire a group of 15 stores from Dillard'safter its buyout of Mercantile Stores. Five former Castner Knottstore in Nashville, Tennessee were renamed Proffitt's, but sold in 2001 to May Department Storesafter proving marginally profitable under Proffitt's management. The former Brody's stores were sold to Belkin 2004. Also, in 2004, Proffitt's opened a store in Alabamaat the Riverchase Galleriain the Birmingham suburb of Hoover in the location vacated by Macy's. The Carson Pirie Scott, Bergner's, Boston Store, Herberger's, and Younkers names were eventually sold to Bon-Ton Stores on March 6, 2006.
Merger with Saks Fifth Avenue
Late 1998 would see the biggest name change when Proffitt's purchased Saks Holdings Inc, the holding company for luxury retailer
Saks Fifth Avenue. Upon closing of the acquisition the company name changed to Saks Incorporatedand the NYSE symbols changed to SKS.
ale to Belk
The McRae's operations would ultimately be consolidated into the Proffitt's division's Alcoa, Tennessee, based offices. They would however, continue to operate under the McRae's name. The year 2005 would signal the end of the Proffitt's and McRae's with the purchase of those stores by Belk. On
March 8, 2006, all McRae's and Proffitt's stores were converted into Belk stores. The conversion ended two of the most well-known retailing names in the south. The only exceptions were two Alabama McRae's stores in Tuscaloosa and Gadsden, which were retained to convert into Parisian locations. On October 2, 2006, the Parisian unit was sold to Belk and these two locations converted to Belk stores almost a year after the purchase.
Former Proffitt's locations
title = Former Proffitt's locations
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Riverchase Galleria"(opened 2004 - originally a Macy'sstore, converted to Belkin 2006, closed 2007 as Belknow occupies the former Parisian and McRae's stores in the mall, now vacant, building to be demolished and replaced by Nordstromin 2012)"
Dalton- Walnut Square Mall
Rome- Mount Berry Square Mall
Ashland- Ashland Town Center
Elizabethtown, Kentucky- Towne Mall
Biltmore Square MallOpened 1989 ( now Belk)
Goldsboro- Berkeley Mall(" - originally a Brody's store")
Greenville- Colonial Mall("formerly The Plaza Mall- originally a Brody's store")
Kinston- Vernon Park Mall(" - originally a Brody's store")
Rocky Mount- Golden East Crossing("opened 1998 - originally a Brody's store")
Spartanburg- Westgate Mall(formerly J.B. White)
Greenville- Greenville Mall(formerly Parisian)
*Alcoa: Midland Center - "(opened 1962, closed 1982, relocation)"
Hickory Hollow Mall(opened as Castner Knott, became Proffitt's 1998, sold to Hecht'sin 2001, now Macy's)
Hamilton Place Mall
*Chattanooga - Northgate Mall
Bradley Square Mall
CoolSprings Galleria(opened as Castner Knott, became Proffitt's 1998, sold to Hecht'sin 2001, now Macy's)
RiverGate Mall(opened as Castner Knott, became Proffitt's 1998, sold to Hecht'sin 2001, now Macy's)
*Johnson City -
The Mall at Johnson CityIronically, Proffitt's purchased the Parks-Belk store in the late 1990s and converted the store to their nameplate, Proffitt's purchased the old Hess'sstore (now Goody's) and moved their store. Both stores here are now Belk.
Fort Henry MallThe Parks-Belk store was purchased in the late 1990s and converted to Proffitt's giving them two locations in the mall. Both stores are now Belk.
Knoxville Center MallNow Belk
West Town MallNow Belk
*Maryville: Downtown, Broadway - "(opened 1919, closed 1962, relocation)"
*Maryville - Foothills Mall - Now
College Square MallNow Kohl'sdue to College Square Mallalready having Belkas an anchor.
Bellevue Center(opened as Castner Knott, became Proffitt's 1998, sold to Hecht'sin 2001, now Macy's)
The Mall at Green Hills(opened as Castner Knott, became Proffitt's 1998, sold to Hecht'sin 2001, now Macy's)
*Oak Ridge -
Oak Ridge City CenterNow Belk
Bristol- Bristol Mall:*Main store - originally Hess's; converted to Belk:*Home store - originally Parks-Belk; converted to Belk Home Store
Chesapeake:* Chesapeake Square Mall- became Dillard's1997:*Greenbrier Mall - originally Hess's; became Dillard'sMen's 1997, now JCPenney
Glen Allen- Virginia Center Commons- originally Hess's; became Dillard's1997
Hampton- Coliseum Mall- originally Rices Nachmans, later Hess's; became second Dillard'sstore 1997, mall later demolished.
Newport News- Patrick Henry Mall- originally Rices Nachmmans, later Hess's; became Dillard's1997
Chesterfield Town Center- originally Hess's; became Dillard'sMen's 1997, currently vacant
Virginia Beach- Pembroke Mall- opened as Rices Nachmans, later Hess's; became Dillard's1997, later Freight Liquidators, wing of mall demolished
Morgantown- Morgantown Mall- Now Belk
Parkersburg- Grand Central Mall- Now Belk
* [http://www.belk.com/ Belk]
* [http://www.saksincorporated.com/ Saks Incorporated]
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