April 9, 1999
Sam's Club and Jan Bell Part Ways
Jan Bell Marketing Inc. will end operation of jewelry departments in Sam's Club stores after its concession agreement with the discounter ends in 2001.
Jan Bell of Sunrise, FL, currently runs 458 licensed jewelry concessions in U.S. and Puerto Rican Sam's Club stores. Sam's Club, a division of Wal-Mort Stores Inc., informed Jan Bell this week it would not renew their agreement in accordance with a corporate decision to discontinue all long-term concession agreements, according to a release.
Continuing to operate the departments until the term expires Feb. 1, 2001, Jan Bell will channel its finances and energy into growing newly acquired Mayor's Jewelers, a luxury jewelry chain, says Chairman and CEO Isaac Arguetty. The company recently announced intentions to expand Mayor's to a level at which it will compete with Tiffany & Co. (See related story.)
- by Stacey King