Profile: Factory 2-U Stores Inc (FTUSQ.PK)
1 Aug 2013
Factory 2-U Stores, Inc., incorporated in 1987, operates a chain of off-price retail apparel and housewares stores in the United States. As of April 23, 2004, the Company operated 195 stores under the name Factory 2-U located in Arizona, California, Nevada, New Mexico, Oregon, Texas and Washington. Its stores sell branded casual apparel for the family, as well as selected domestic and household merchandise. The Company's stores are generally located in shopping centers in densely populated urban areas, lower to moderate-income suburban communities and certain rural locations. The stores range in size from 6,000 square feet to 35,000 square feet, averaging approximately 15,000 square feet. On January 13, 2004, , the Company filed a voluntary petition to reorganize under Chapter 11 of the Bankruptcy Code in the Court.
The Company purchases merchandise from manufacturers, jobbers, importers and other vendors in the United States. Unlike traditional department stores and discount retailers (that primarily purchase merchandise in advance of the selling season, for example, back-to-school is purchased by March), Factory 2-U primarily purchases merchandise in-season (during the selling season). These in-season purchases generally represent closeouts of vendors' excess inventories remaining after the traditional wholesale selling season and are often created by other retailers' order cancellations.
Factory 2-U competes Wal-Mart, K-Mart, Target, Mervyn's, TJ Maxx, Ross Stores, Marshall's and Big Lots.
Factory 2-U Stores Inc
15001 S. Figueroa St.
GARDENA CA 90248