L. S. Ayres Indianapolis on October 13, 1961. This subsidiary was one of the first discount store divisions launched by a traditional department store. The Indianapolis Ayr-Way store opened prior to the first Kmart, which opened in Garden City, Michigan, in March 1962, and the first Target store, which opened in May 1962. Ayres also opened Ayr-Way stores in other cities. Ayres encountered several challenges in establishing and operating the new discount store concept. First, Ayres needed to define a clear brand identity for the new subsidiary and its relationship to the L. S. Ayres store brand. Second, errors in selection of store
Barker's Discount Department Stores competition, including Nichols Discount City, Bradlees, King's Department Stores and Caldor. Barker's was founded in May, 1957 by Irving Barker, in Orange, Connecticut. As one of the first hard goods discounters and with creative price and entertainment promotions, Barker's grew quickly from its $20,000 initial investment. Following the opening of a second store in Wallingford, Connecticut in September, 1960, Barker's had gross sales of $7 million. The company was acquired by Franklin Stores Corporation in 1961. Paul Panagrosso was one of the founding employees who was instrumental in designing and setting up the initial store that would then grow into