GOODY’S PLANS 20 NEW UNITS IN ’95
NEW YORK — Goody’s Family Clothing expects to add 20 new stores this year as it drives toward becoming a $1 billion retailer.
Goody’s, based in Knoxville, Tenn., operates 171 stores in 14 states. Its annual volume is almost $600 million.
“Our ambitious expansion plans will help us achieve our goal of becoming a $1 billion company in the next three years,” Robert M. Goodfriend, chairman and chief executive officer, said in a statement.
Earlier this month, Goodfriend was reinstated as chairman and ceo as part of a deal with the company’s directors, who had fired him in September. Goodfriend and his wife, Wendy, own 63 percent of Goody’s.
One of the units expected to open in March is in Birmingham, Ala., where Goody’s expanded last year with the opening of four stores in its first attempt at serving a large metropolitan market. It opened a fifth store in Birmingham last October.
Before moving into Birmingham, Goody’s had operated stores only in smaller communities.
As part of its 1995 expansion, the retailer will open its 11th store in South Carolina in March. The locations for five other stores opening this year are: Myrtle Beach, S.C.; High Point, N.C.; Gainesville, Fla., and Huntsville and Montgomery, Ala. The retailer did not disclose the locations for its 13 other planned stores.