Jan Bell: The Future is Mayor's

July 16, 1999

Jan Bell: The Future is Mayor's

"For once in our lifetime, we are going to be masters of our own fate," Isaac Arguetty, Jan Bell Marketing's CEO, told attendees at the company's annual meeting in Florida last weekend. Arguetty told stockholders and employees that Jan Bell's future was with Mayor's and that Jan Bell, of Sunrise, FL, might consider changing its name to Mayor's, according to an article in the Ft. Lauderdale Sun-Sentinel. Arguetty also said Jan Bell didn't expect to pursue any supplier or leased concession agreements to replace its current contract with Sam's Club warehouse stores, which ends Feb. 1, 2001.

Jan Bell is opening three stores this year in Florida and plans to open eight to 10 next year in Maryland, Virginia, Chicago, Dallas and Southern California, Arguetty said. He's not worried about the company's stock price, though the stock is down about 48% this year, following the company's April 6 announcement that it will lose its contract with Sam's Club.

Arguetty also told the Sun Sentinel he's placing his bets on Mayor's Web site, which has been able to successfully sell expensive jewelry by auction. The site, www.mayors.com, is off-line undergoing a redesign.

- by Peggy Jo Donahue