Executive Suite 11/18/2012: Benny's owner Arnold Bromberg

THE RISE OF WAL-MART
DEALT A DEATH BLOW TO TENS
OF THOUSANDS OF LOCAL
RETAILERS ALL ACROSS THE
UNITED STATES, BUT NOT
BENNY'S.
FOUNDED BEFORE THE GREAT
DEPRESSION, THE SOUTHERN NEW
ENGLAND CHARM IS GEARING UP
FOR THE 88th CHRISTMAS
SHOPPING SEASON IN ITS
HISTORY.
STILL OWN BODY THE SAME
FAMILY THAT STARTED IT ALL
THOSE YEARS AGO, SO HOW DID
BENNY'S HOLD OFF THE BIG BOX
BULLDOZER?
CAN THE COMPANY COMPETE IN
THE AGE OF AM ZON THIS THIS
WEEK IN EXECUTIVE SUITE,
BENNY'S OWNER ARNOLD
BROMBERG.
WELCOME TO EXECUTIVE
SUITE.
AM TED NESI.
THIS WEEK, I WELCOME ARNIE
BROMBERG, HES THE OWNER OF
BENNY'S.
I AM GLAD YOU COULD MAKE
IT.
IT IS A BUSY TIME OF
YEAR.
IT IS VERY BUSY.
WE'LL KEEP IT SHORT.
I WANT TO GO TO THE
QUESTION IN THE OPENING
PACKAGE.
I WAS THINKING OF THE NAMES
OF RETAILERS THAT ARE NOT
HERE ANYMORE THAT WERE
LOCAL, APEX, BRADLEY'S SAFE
RITE, GIANT.
SOME OF THEM WERE SWALLOWED
UP.
SOME ENDED UP CLOSING DOWN.
BENNY'S STILL ALIVE AND
SURVIVING.
WHAT IS DIFFERENT ABOUT BEEN
NY?
HE A WHAT YOU SURVIVED OF
CHANGE IN THE RETAIL
SECTOR?
WELL, I THINK WE MAY
PROBABLY OFFER SOMETHING A
LITTLE DIFFERENT.
I THINK IT IS NOT DIFFERENT
THAN ANYONE ELSE, MAYBE
SELECTION WE HAVE IS
DIFFERENT BUT I THINK ITS
THE SHOPPING EXPERIENCE, WE
TRY TO OFFER GREAT CUSTOMER
SERVICE AND OUR STORES ARE
LOCATED IN THE NEIGHBORHOODS
WHERE YOU CAN PARK EASILY
AND GET IN AND OUT.
YOU DON'T HAVE TO WAIT VERY
LONG IN LINE EVER.
MAYBE THERE IS A LIZARD
COMING.
BUT EVEN THEN WE TRY, WE ARE
SENSITIVE TO THE NEEDS OF
THE PEOPLE.
WE WANT THEM TO DO THEIR
SHOPPING TO GET ON WITH
THEIR LIVES.
WITH THAT SAID.
IT AM SURE MOST OF THOSE
RETAILERS CLAIMED THEY WERE
DOING THE SAME THING ALL THE
TIME AND THEY ARE NOT HERE
RIGHT NOW AND YOU ARE
SITTING AT THE TABLE GETTING
READY NOR ANOTHER SEASON.
DO YOU THINK THERE IS A
DIFFERENCE INTO WELL, I
DON'T MOW.
MAYBE THE WHICH WE STARTED.
WE GREWP IN THE BUSINESS.
IT IS A FAMILY BUSINESS.
I AM NOT THE ONLY OWNER B.
WE HAVE THE WHOLE FAMILY
INVOLVED.
IT GUESS BACK TO WHEN WE
FIRST OPENED.
WE COOK CARE OF PEOPLE IN
THE NEIGHBORHOODS WHERE WE
HAD STORES.
TELL ME ABOUT THE
CHALLENGE.
YOU HAVE BEEN INVOLVED WITH
THE COMPANY FOR A LISTENING
TIME NOW.
ARE THE THIRD GENERATION.
WHEN WAL-MART AND TARGET AND
HOME DEPOT STARTED TO SPRING
UP AND BIG BOX STORES.
THE MALLS CAME IN THE '8Os
AND EVERYTHING.
WHEN DID YOU START TO THINK,
HE KAY.
WE ARE SEEING A CHANGE IN
THIS SECTOR AT BENNY'S.
DID YOU HAVE TO CHANGE IT TO
RESPOND INTO WELL, THERE WAS
CHANGE BEFORE THAT, BECAUSE
DECADES BEFORE, YOU HAD
KMART THEN YOU HAD AND THERE
WAS AND A LOT OF OTHER THE
CALL RETAILERS FOR US THE
COMPETITION WAS KEY.
SO WE HAD TO ALWAYS BE ON
OUR TOES.
THEY PRAIN COMPETITIVE
ENVIRONMENT.
THE COMPETITOR'S
CHANGED.
RIGHT.
EXACTLY.
THAT WAS WHAT WE THINK.
HOW DO YOU KEEP PRICES
DOWN WHEN WAL-MART AND
TARGET BIG BIG STORES HAVE
SO MUCH PRICING POWER THE
MARKET AND SQUEEZE THE
SUPPLIERS SOP.
HOW DO YOU KEEP A
COMPETITIVE ADVANTAGE THERE
WHEN YOU HAVE A SMALLER
FOOTPRINT.
WE TRY TO SQUEEZE THE SAME
SUPPLIERS THE SAME KAY.
JUST THE SAME
OPPORTUNITY.
OBVIOUSLY, WE PROBABLY
DON'T HAVE THE SAME KIND OF
CLUT OR LEVERAGE, YOU KNOW,
THE VENDORS AND SUPPLIERS,
ALL THEIR CUSTOMERS TO STAY
IN BUSINESS, SO IT IS IN
THEIR BEST INTEREST TO TRY
TO TREAT EVERYONE AS FAIRLY
AS POSSIBLE.
NOW I SAW, SOMEONE TOLD ME.
NOT A SINGLE BENNY'S CLOSED
BECAUSE OF POOR SALES.
THAT TRUE?
NOT IN ANY KIND OF RECENT
HISTORY.
TALK THE LAST 50 YEARS.
I THINK EVEN BEFORE THAT.
WE PROBABLY ARE RELOCATED
STORES TO BETTER
OPPORTUNITIES IN AREAS
RATHER THAN CLOSE.
I DON'T REMEMBER.
THE WAL-MART CAME TO TOWN
AND BENNY'S CAME TO SHUT
DOWN.
NEVERRED THAT EXPERIENCE.
WAL-MART HAS HAD TO COME
TO TOWN.
WE BONED BACK.
HOW DID YOU SEE THAT
EFFECT YOU?
FELT PRESSURE ON PRICING.
YOU SAW PEOPLE TRYING THAT
AND COMING BACK.
WELL, YEAH.
IT IS A LITTLE OF
EVERYTHING.
I THINK THE FIRST WAL-MART
OPENED IN OUR AREA RIGHT
NEXT TO US, RIGHT BE US AND
AT THE BEGINNING, YOU KNOW,
THERE WERE A LOT OF CARS
THERE.
GEE, THIS MUCH VOLUME OF
TRAFFIC IS ALMOST LIKE
DISNEY WORLD.
WE WOULD RATHER HAVE DISNEY
WORLD NEXT TO US THAN
WAL-MART.
AS TIME WENT ON, IT CAME
BACK.
YOU TALK AND YOU SAID
ALREADY HERE.
YOU ALWAYS TALK ABOUT BEING
FOCUSED ON THE CUSTOMER.
AS I SAID.
MOST RETAILERS SAY THEY ARE
FOCUSED ON THE CUSTOMER.
THERE IS A DIFFERENCE IN THE
APPROACH YOU TAKE.
IT IS IT SOMETHING YOU TELL
EMPLOYEES.
IT IS IT CLOSE TO THE WERE
UP.
HOW DO YOU SEE THIS INYEAH.
WE TRI TO TRAIN ALL EMPLOYEE
THAT'S THE CUSTOMER IS WHY
WE ARE THERE.
THEY COME IN THE STORE.
WE WANT THEM TO GET TAKEN
CARE OF.
WE TRY HELP THEM FIND WHAT
THEY WANT, AND TRY TO
SUGGEST SOMETHING BETTER
MAYBE.
GET THEM ON THEIR WAY.
BENNY'S CUSTOMERS KNOWN
FOR THEIR LOYALTY.
DO YOU SEE THAT OFTEN IN THE
STORES?
PEOPLE COMING FOR A LONG
TIME.
THEY ARE STILL COMING.
YEAH.
WE GOT THE COMMENTS.
BENNY'S IS MY FAVORITE
STORE.
IF YOU DON'T NEED -- IF
BENNY'S DOESN'T HAVE IT.
YOU DON'T NEED.
THAT IS A GOOD ONE.
IT IS OLD TONGUE TWISTER.
IF YOU DON'T MOW WHERE TO
FIND IT.
GO TO BENNY?
HE.
YEAH, THINGS LIKE THAT.
DO YOU THINK THE SENSE
THAT YOU ARE IN THE
COMMUNITY.
DO YOU THINK THAT HELPS FROM
A SALES PERSPECTIVE.
OH, BEN NIP'S IT IS ALL
RHODE ISLAND AND
MASSACHUSETTS.
WELL, I THINK, PEOPLE
KNOW WHEN THEY CAN COUNT ON
US.
FOR EXAMPLE.
IF THERE IS DURING THE
RECENT STORM.
PEOPLE KNEW, YOU KNOW, THEY
WANTED FLASHLIGHTS AND
BATTERIES YOU ABOUT TO
BENNY'S.
DURING WINTER SNOWSTORM, IF
YOU WANT ICE MELT, ROCK
SALT, SHOVEL, SLEDS, I WOULD
GO TO BENNY?
HE'S.
DO FOLKS KEEP MORE OF THAT
ON SUPPLY BAWLINGS YOU KNOW
YOU ARE IN NEW ENGLAND.
WELL, PEOPLE ASK US ALL
THE TIME.
THERE'S SOME WINTERS WHEN
THERE IS NO SNOW BUT WE
STILL HAVE SHOVELS AND SLEDS
AND ROCK SALT.
BUZZ IF OVER THE COURSE OF
YEARS IF ANYTHING MORE THAN
50% OF THE WINTERS WEREN'T
SEVERE WE WOULDN'T HAVE THAT
STUFF.
YOU WOULD HAVE TO SEE
LONG-TERM CHANGE.
RIGHT.
RIGHT.
SEVERE CLIMATE CHANGE.
RIGHT.
WE ARE STILL WAITING.
I WANT TO ASK YOU TOO
ABOUT LAYAWAYS.
BIG BOX STORES ARE TALKING A
LOT ABOUT LAYAWAYS AGAIN.
WELL, WE HAD IT AS FAR AS
WE CAN TELL PROBABLY BACK IN
THE 1930'S.
IN ADDITION TO THE
AUTOMOTIVE AND RADIO PART
HAS WE SOLD BACK THEN, THEN
WE HAVE NEVER STOPPED DOING
IT, BUT BACK THEN, IT WAS
MORE OR LESS, EVERYONE DID
IT.
MY MEMORY GOES BACK IN
196Os IN WORKING AND BACK
THEN PEOPLE HAD THE
CHRISTMAS AND THE BANK
ACCOUNTS AND THINK MONEY
CAME IT TO IN THE BEGIN OF
DECEMBER.
BACK THEN IT WAS WAY TO
BUDGET THE MACHINE NO I GET
THE TOYS AND THE BIKES AND
THE OTHER GIFTS YOU WANTED
AND PUT THEM ASIDE AND PAY
FOR THEM AS YOU COULD.
AND THE OTHER REASON FOR
DOING IT IS TO HIDE THE
GOODS, HIDE THE STUFF.
SO THEY CAN'T FIND IT IN
YOUR HOUSE.
HAVE YOU SEEP A DIP AND
RETURN WITH THE ECONOMY
BEING THE WAY ITS NOW.
NO.
WE HAVE DONE LAYAWAYS
CONTINUALLY FOR AS LONG AS I
CAN REMEMBER.
THERE HAS NEVER BEEN A DIP
FOR US.
WE HAD ALOFT INCREASES IN
LAYAWAYS IN YEARS.
AND THIS WE'RE, WE'LL SEE
WHAT HAPPENS.
BUZZY, OTHER PEOPLE HAVE
GOTTEN INTO IT PROBABLY
REACTION TO, YOU KNOW, POOR
ECONOMIC TIMES.
DEMAND NEVER ENDED FROM
LAYAWAYS.
IT IS NOT A DEMAND ENDED.
WE JUST NEVER THOUGHT OF
IT.
RIGHT.
NO REASON TO.
WE ARE COMING UP ON A
BREAK.
BUT LAST CHRISTMAS, THERE IS
A LOT OF TALKS ABOUT THE
LAYAWAY ANGELS.
WHAT WAS THAT PHENOMENON YOU
SAW?
SOMETHING WE HAVE NEVER
SEN BEFORE.
IT STARTED, I GUESS, IN THE
MIDWEST.
WE CALL IT THE MOST
WONDERFUL TIME OF THE YEAR,
I GUESS.
IT WAS UNEXPECTED OVER THE
YEARS WE DON'T REMEMBER EVER
SEEING ANYTHING LIKE THAT
BEFORE.
I WAS PEOPLE COMING IN AND
PAYING OFF SOMEONE ELSE'S
LAYAWAY ORDER SO THEY
COULD.
YOU WOULD AND TELL THEM TO
PICK IT UP.
WE CALL PEOPLE.
THEY THOUGHT WE WERE CALLING
THEM THE LAYAWAY AND BETTER
PICK IT UP.
WE HAVE GOOD NEWS FOR YOU.
THE PEOPLE, IT WAS EMOTIONAL
FOR US, FOR THE PEOPLE
CALLING, FOR THE PEOPLE
DOING THE GIVING.
YOU HAVE NEVER SEEN IT
THE WHOLE TIME.
WE SEE AN ISOLATED CASE
SOME YEARS BUT NOTHING LIKE
THIS.
THINK IT WILL HAPPEN THIS
YEAR INTO I DON'T KNOW.
YOU WILL FINAL OUT.
SANTA CLAUS DOESN'T
GIVEAWAY SECRETS.
MORE ON THE HISTORIES OF
BENNY'S, THE LONG HISTORY IN
RHODE ISLAND SINCE 1924.
STICK WITH US ON EXECUTIVE
SUITE.
WELCOME BACK TO
EXECUTIVE SUITE.
AM TED NESI.
WE ARE TALKING ABOUT BENNY'S
THE ICONIC LONG ISLAND
RETAILER WITH ARNOLD
BROMBERG.
THIRD GENERATION IN HIS
FAMILY TO OWN AND RUN
BENNY'S.
HE HAS BROUGHT US PROPS
TODAY WHICH FIT WIN THE NEXT
LINE OF QUESTIONING.
I WAS READING UP ON IT
TODAY.
YOUR FRND FATHER WAS BENNY.
RIGHT.
1924 DOWNTOWN
PROVIDENCE.
I THINK WHERE THE
PROBUILDING NOW.
HE FOUNDED IT THERE.
WHERE DID THE IDEA COME
FROM?
HOW IT DID DEVELOP FROM
THERE?
HE WORKED FOR SOMEONE
ELSE AND I GUESS IN THE OIL
SUPPLY BUSINESS.
HE LIKED IT SO MUCH.
HE AND MY GRANDMOTHER,
FLORA, WORKED, THEY OPENED
THE FIRST FEW STORES
TOGETHER.
OVER TIME, IT DEVELOPED INTO
OTHER PRODUCTS BUT WE GO
BACK.
WE ACTUALLY RECENTLY FOUND
AN AD FROM 1924 AND WE SOLD
AUTOMOTIVE PARTS BUT BACK
THEN, AN AUTOMOTIVE PART WAS
HEAD LIGHT, IT WAS AN EXTRA
CRANK TO START THE CAR AND
MIRRORS, THESE THINGS.
FAIRLY NEW CATEGORY AT
THE TIME.
RIGHT.
THE BIGGEST ITEM WAS A
RADIOS AND THE CARS AND
RADIOS BUT IN 1924 GETTING A
RADIO WAS EQUIVALENT OF
GETTING iPAD TODAY.
YOU HAD TO HAVE ONE.
YEAH.
NOT A LOT OF PLACES TO BUY
THEM AT THE TIME.
1924, COAST-TO-COAST JUST
STARTING WITH RADIOS.
YOU BROUGHT US A FEW
EXAMPLES OF BENNY'S THROUGH
THE YEARS.
HOLD THAT YOU.
WANT TO GET A NICE SHOT OF
IT.
THIS IS 1937 GREATER VALUE.
1937.
THIS IS BASICALLY CATALOG.
IT IS PRETTY FILLED WITH
PRODUCTS THAT PROBABLY A LOT
OF WHAT WE SOLD.
WE PROBABLY PRINT THIS TWO
OR THREE TEEM ASSURER.
YEAH.
GET OUT.
ALL OF THIS DRAWN BY
SOMEONE.
YEAH.
THESE WERE EITHER DRAWINGS
WE DID THAT MANUFACTURERS
GAVE US BUT CALLED LINE
DRAWINGS.
THE LOGO PRETTY SIMILAR.
YEAH.
IT WAS AUTO STARS AND NOW
IT IS AUTO STARS.
NOW THIS ONE, TOO WE HAVE
ANOTHER ONE.
THIS IS THE 1950s.
WHERE WOULD THIS HAVE GONE.
THIS WAS WHAT IS CALLED AN
AD.
IT IS REPRODUCTION OF A
NEWSPAPER THAD WAS USED TO
CREATE OTHER ADS BUT THIS
PROBABLY FROM THE LIST OF
STORES HERE PROBABLY
APPEARED IN PROVIDENCE
NEWSPAPER.
AND THEN, PROBABLY ALL THE
VERSIONS OF IT APPEARED IN
OTHER TOWNS.
IF YOU KEEP HOLD THAT YOU.
LET ME USE MY PEN HERE.
GOT B'S HER ON THIS ONE.
WERE YOU TELLING ME OUT
THERE.
WHAT IS THE POINT OF THE
LITTLE B'S THERE THAT TIMES
GOT DRAN IN.
ALL THE ARTISTS DREW THOSE
PICTURES AND SO WE WANTED.
WE HAD BASICALLY THE RIGHTS
TO THOSE.
SOME PICTURES LOOK THIS ONE
HERE DOESN'T HAVE A B AND
PROBABLY SUPPLIED BY
MANUFACTURER.
BUT WHAT HAPPENED IS
CUSTOMERS WOULD THINK THAT
IT WAS CONTEST SO WE WOULD
GET A CALL AND WE WOULD AND
THE PHONE THEY WOULD SAY
83.
THAT IS HOW MANY B'S IN
YESTERDAY'S ADS.
BR IS WALDO AT BENNY?
HE WELL.
PUTTING THE SHOW TOGETHER.
ONE IN INTERESTING THING.
YOU ARE NOT BIG ON TITLES.
S WHAT THE PHILOSOPHY THERE
WELL.
I DON'T KNOW.
WE DON'T HAVE TITLES IN OUR
DOORS.
YOU KNOW, WE ARE BASICALLY
ONE WAY OF PUTTING IT
WHOEVER ANSWERS THE PHONE
FIRST IS IN CHARGE.
BUT MY FATHER IS STILL
ACTIVE.
YOUR FATHER IS STILL
ACTIVE.
A LONG TENURE.
WELL, HE IS PROBABLY THE
LONGEST TENURED CURRENT
EMPLOYEE.
WE HAD SOME WORK A VERY LONG
TIME FOR US.
BUT MY BROTHER RUNS THE
OPERATIONS, MYSETS IR IS THE
TOY PRINCESS.
I HAVE MY TWO NEPHEWSND MY
SON ALL INVOLVED.
I HAD VIEWER, ONE OF THE
LOYAL EXECUTIVE SUITE
VIEWERS, THANK YOU TO ALL OF
YOU.
SHE E-MAILED ME.
WHAT IS THE CHALLENGE OF
HAVING A MULTI GENERATIONAL
FAMILY BUSINESS YOU?
NEED TO MAKE SURE THE NEXT
GENERATION WANTS TO STAY
INVOLVED YOU NEED TO TRAN
THE PREVIOUS ONE.
WHAT ARE THE CHALLENGES THAT
COME WITH THAT?
WELL, A GOOD QUESTION.
I GOT SAY, THE TOUGHEST
THING IS TO KEEP BUSINESS
BUSINESS AND FAMILY FAMILY.
AND YOU KNOW, WE TRY TO WHEN
WE ARE AT WORK.
WE TRAY TO KEEP IT AS
BUSINESS LIKE BUT AS
LIGHTHEARTED AS POSSIBLE BUT
YOU GOT TO UNDERAND YOU ARE
DEALING WITH PEOPLE WHO IS
ALSO YOUR FAMILY.
SO YOU GUYS SPEND ALL THE
HOLIDAYS TOGETHER SELLING
STUFF.
DO YOU WRAP PRESENTS UP BY
BENNY ?EA SOME.
SOME.
YOU KNOW, WE WERE TALKING
BEFORE ABOUT WHERE BENNY'S
IS.
WHAT IS THE PHILOSOPHY ON
EXPANSION?
YOU HAVE A STORE IN THREE
STATES.
YOU HAVE 32 STORES.
YOU DIDN'T GO TO NEW YORK?
IS IS THAT?
I WOULD LIKE TO HAVE A
BENNY'S IN NAPLES, PLOR A,
MAYBE.
BUT NO, WE ALWAYS FELT THAT,
YOU KNOW, ITS THE IDEA OF
BEG A FAMILY BUSINESS.
WE WANT TON ABLE TO GO TO
WORK AND WE GO TO ANY OF THE
STORES AND GET BACK HOME IN
THE SAME DAY.
I GUESS WE NEVER HAD ANY
TBRAN DY OWES PLANS AND WE,
WE HAVE EXPANDED LOCALLY
WHERE WE ARE.
IN MANY TOWNS WHETHER WE
ARE.
WE HAD A THIRD OR FOURTH
LOCATION AND GONE FROM
BIGGER TO BIGGER.
DID YOU EVER CONSIDER
IT?
A CONSIDERATION OF MAKING A
BIG PUSH TO MAKE BENNY'S
WAL-MART INSTEAD OF
WAL-MART?
NO.
NOT IN MY GENERATION.
I CAN'T ANSWER THAT.
HOW ABOUT THESE DAYS?
I MEAN, THE 3 1st STORE
OPENED IN '03 SO YOU STILL
OPEN NEW STORES NOW.
HOW DO YOU LOOK AT THOSE
OPPORTUNITIES? WE HAVE 32
LOCATIONS NOW.
BUT NO, WE LOOK AT LOCATIONS
AS THEY COME UP.
WE LOOK AROUND FOR DIFFERENT
AREAS.
REAL ESTATE DEVELOPS AND
MATERIALIZES AND WE SEE
DEMAND.
THAT IS RIGHT.
YOUR EMPLOYEES ALSO
MENTIONED LONG TERM.
AN ARTICLE FROM 1988 PROFILE
FILED ONE EMPLOYEES WHO HAD
BEEN WORKING 52 YEARS AT THE
TIME.
HE WAS 79.
THAT IS LOYALTY.
THAT IS A LITTLE MORE THAN
ROCKY STATUS.
RIGHT.
YEAH.
I THINK A LOT OF IT IS
THE RHODE ISLAND MENTALLY IS
PROBABLY TIED IN WITH THE
SAME I DON'T WANT TO DRIVE
MORE THAN 15 MINUTES TO GO
TO RESTAURANT YOU KNOW WHERE
YOU GRAU UP.
LIKE TO STICK AROUND.
PEOPLE MUST LIKE THE
ENVIRONMENT.
APPARENTLY.
SO.
WE'LL TAKE ANOTHER BREAK
WHEN WE COME BACK WOMAN'S
TALK ABOUT BENNY'S APPROACH
TO FUTURE THAT IS COMING
CHRISTMAS SEASON AND WHAT
ARNOLD THINKS ABOUT RHODE
ISLAND'S ECONOMY.
STICK WITH US.
YOU ARE WATCHING EXECUTIVE
SUITE.
WELCOME BACK TO EXECUTIVE
SUITE.
AM TED NESI.
WE'RE GETTING A JUMP ON
BLACK FRIDAY THIS WEEK
TALKING TO BENNY'S AHEAD OF
THE CHRISTMAS SHOPPING
SEASON.
WE HAVE ARNOLD BROMBERG
CO-OWNER WITH OTHER MEMBERS
OF THE FAMILY OF THE FAMOUS
RETAILER.
SO CHRISTMAS SHOPPING SEASON
COMING UP.
WHAT IS GOING TO SELL
BIGGING?
WHAT ARE YOU PREPARING FOR.
I DON'T KNOW.
THERE IS SOME TOYS THAT COME
BACK.
A COUPLE, WILD AND OTHER
VARIATIONS.
AND YOU KNOW, THERE IS NOT
GREAT CHANGES, ONE THING I
NOTICED THAT IS WE NOW HAVE
THIS YEAR THE ITEMS WITH
TURN TABLES ON HEM.
THREE ELECTRONIC ITEMS WITH
ACTUAL RECORD PLAYERS.
THOSE ARE BACK.
THEY ARE BACK.
I AM SURE YOU WERE SELLING
THEM YEARS AGO.
FOR THE PAST FEW YEARS WE
SOLD DEVISE TO COULD TURN A
RECORD AND NOW WE HAVE TWO
DEVICES THAT ACTUALLY CAN
PLAY THROUGH OWN SPEAKERS
AND ONE IS A COME PI NATION
OF TURN TABLE AND HAS
COMPACT DISK.
OKAY.
RIGHT.
THAT IS A TREN YOU ARE
SEEING NOW.
EVERYTHING OLD IS NEW AGAIN
AM YOU I MAY SITE ON THE AD
YOU WERE SHOWING.
THAT IS A CHALLENGE.
HOW DO YOU FIND THE STOCK.
DON'T GET TOUCH OF A THE
WRONG THING.
HOW DO YOU APPROACH THAT AT
BENNY'S.
HOW DO YOU FIGURE OUT WHAT
NEW PRODUCTS TO ADD THIS.
WELL THE TOUGHEST
QUESTION TO EVER ANSWER IS
HOW MUCH ENOUGH.
BUT WHAT WE, WE TRY TO LOOK
AT IS THERE ARE TRENDS.
WE SEE WHAT TYPE OF ITEMS
ARE SELLING AND GOES FROM
WHOLE DEPARTMENTS TO
SUBDEPARTMENT TO ACTUAL
LITTLE AREA OF MERCHANDISE
VAUGHN TO ANALYZE IT ITEM
BUY ITEM.
S WHAT THE BIGGEST SELLER OF
BENNY'S.
IN PIECES, I DON'T KNOW.
I COULD SAY BAGS POSSIBLY.
RIGHT.
I CAN'T THINK OF HOW MANY
I SAW THIS MORNING ON THE
WAY IN.
ADVERTISING THERE.
YOUR LONG TIME PR MAN WAS
TACKING TO HIM BEFORE THE
SHOW ANSWER SAID I SHOULD
ASK YOU ABOUT THE BENNY'S
SMELL.
OH, YEAH.
WHAT ABOUT THE SMELL.
WELL I DON'T THINK ABOUT IT
BECAUSE I HAVE BEEN AROUND
IT BUT IT STARTED I DON'T
KNOW MAYBE 8 YEARS AGO OR
MAYBE LONGER.
MT. MATH AL LISTEN ON THE
RADIO WOULD ALWAYS TALK
ABOUT THE SMELL AND THEN
PEOPLE STARTED SAYING, OH,
YEAH THAT IS PROBABLY THE
TIRES.
WE ALWAYS SOLD TIRES.
AND I WENT NA OUR WAREHOUSE
WHERE WE HAD THE TIRES AND
SMELLS LIKE TIRESND TO ME IT
DOESN'T SMELL LIKE AER TO
BUT THAT IS PROBABLY THE
BASIC ESTIMATES.
YEAH.
IT WOULD BE NICE FINNED A
WAY TO PUT IT IN A SPRAY OR
ARE AIR FRESHENER OR
SOMETHING.
THE YANKEE CANDLE.
ASK YOU LAST MONTH ABOUT THE
POSSIBILITY OF SELLING CELL
PHONE.
WOULD YOU CONSIDER SOMETHING
LIKE THAT.
WE'RE LOOKING AT IT.
AND WE'LL SEE WHAT HAPPENS.
I MEAN, THERE WAS TIME BACK
IN THE LATE '7Os WHEN YOU
COULDN'T SELL A TELEPHONE.
THE ONLY PERSON THAT COULD
SELL AND WE STARTED SELLING
PHONES AND WE SOLD A LOT OF
PHONES BUT MAYBE THAT IS THE
NEXT STEP FOR US.
YOU KNOW WE HAVE A LOT OF
CONFERENCES IN THE SHOW
ABOUT THE BUSINESS CLIMATE
IN RHODE ISLAND.
OBVIOUSLY BENNY'S HAS NOT
LEFT.
YOU DIDN'T DECIDE TO BECOME
A MINNESOTA RETAILER AND YOU
STAYED HER.
I MEAN DO YOU THINK,
OBVIOUSLY ARE THERE THINGS
THAT HOLD BENNY'S BACK
BECAUSE OF THE, AND BUSINESS
CLIMATE IN RHODE ISLAND INDO
YOU DEAL WITH WHAT IS HERE?
WE DEAL WITH WHAT IS HERE.
I THINK FOR BUSINESS TOCALLY
MATE TO IMPROVE IN RHODE
ISLAND I THINK THERE HAS TO
BE A LOT OF THINGS
HAPPENING.
RED ISLAND HAS A LOT OF GOOD
THINGS TO SPEAK OF.
AND YOU KNOW WE HAVE
1 MILLION PEOPLE.
WE HAVE A 10. MORE PEOPLE
WELL THEN THAT IS, THAT MAY
BE A CHALLENGE TO DO THAT
BUT THAT IS PROBABLY WHERE
OUR CUSTOMER BASE IS.
BUT YOU KNOW, WE ALL LOVE
BEING IN RHODE ISLAND AND
THE THINGS WERE THE
EDUCATION WE HAVE HERE TO
THE GREAT THINGS WITH FOOD
AND RESTAURANTS AND THE
LOCAL FARMING NOW.
THERE IS ALOT TO BE PROUD
OF.
I THINK THOSE THINGS WOULD
BE TAKEN ADVANTAGE OF.
TAKE MORE ADVANTAGE.
TAKE MER ADVANTAGE OF WHAT
IS THERE.
WE HAVE NOT TALKED TOO
MUCH ABOUT E RETAILING.
THE BIG BOX STORES ARE
ACTUALLY HAVE PROBLEMS NOW
THEY GOT SO BIG AND
FACEING A NEW COME PETTER
ON-LINE.
HOW DO YOU VIEW THE THREAT
IF YOU SEE IT AS A THREAT.
WELL, THERE IS, YOU KNOW,
THERE WAS, YOU KNOW, I
GUESS, IT WAS CALLED SHOW
ROOMING ANG PEOPLE WOULD GO
TO STORES TO TRY TO FIND AN
ITEM THEN GO HOME AND SEE
HOW CHEAP THEY COULD FIND IT
ON-LINE.
THERE IS ALSO AN OTHER SIDE
TO THAT WHICH IS TO SHOP
ONLINE, BUT TO BUY IT, YOU
KNOW, IN BRICK AND MORTAR
RETAILER.
THINK THERE IS A DIFFERENT
PERSON TO ARE THAT SHOPPING
EXPERIENCE.
DO YOU THINK, DO YOU WORRY
AT ALL.
DO YOU THINK MUCH ABOUT THE
DEMOGRAPHICS OF YOUR
CUSTOMER BASE?
DO YOU FIND IT IS A LOT
OLDER RHODE ISLANDS WHO HAS
BEEN GOING BENNY'S ALL THEIR
LIVE MOOSE IT IS THAT BUT
THE DRAIN OF YOUNGER PEOPLE
WHO LIVE HERE.
PEOPLE WHO GLOW UP HERE.
IT RUNS THE CHALLENGE.
IT THINK IT IS TO HAVING TO
STICK AROUND.
YEAH.
IF YOU HAD ONE BIT OF
ADVICE FOR OTHER RETAILERS
OR EVEN OTHER BUSINESS
PEOPLE SOMETHING YOU LEARNED
THAT YOU THINK OF
FREQUENTLY.
WHAT IT WOULD BE?
GO TO LAW SCHOOL.
I KNOW.
JUST KIDDING.
NO.
NO I MEAN, IT IS A TOUGH
BUSINESS.
I MEAN, IT IS VERY REWARDING
BUSINESS BUT YOU HAVE TO SPN
THE TIME.
IT IS, IT IS, IT IS DY IN
AND DAY OUT DETAIL WORK AND
IF YOU DON'T PAY ATTENTION
TO THE DETAILS THEN IT GETS
AWAY US FROM.
HOW MUCH TIME DO YOU SPEND
ON THE FLOOR OF SHOPS OR
STORES TO SEE WHAT IS GOING
ON?
I OPINIONLY DON'T SPEND
AS MUCH TIME AS MY BROTHER
HOWARD FOR INSTANCE.
BUT IT IS, IT GENES.
MAIN, I SHOULD SPEND MORE
TIME OUT THERE BUT ONLY SO
MANY HOURS IN A DAY.
WHAT DO YOU LOOK FOR IF YOU
GO TO A BENNY'S.
I LOOK FOR EVERYTHING.
DON'T KNOW REALLY.
I LOOK FOR WHEN WE DRIVE UP
TO THE BUILDING TO SEE WHAT
IT LOOKS LIKE AND GO TO THE
STORE TO SEE HOW OUR STAFF
IS AND HOW THE MERCHANDISE
IT.
WE GOT MADNESS COMING UP
WITH BLACK FRIDAY.
VENUES GOING.
DO DID YOU A MIDNIGHT
OPENING INTO NO.
NO.
AS A MATTER OF FACT.
LAST YEAR AND THIS YEAR WE
ARE USING THE SLOGAN SLEP
AND SAVE.
THE STORES OPEN AT 8:30 WE
WANT PEOPLE TO EAT TURKEY
THE DAY BEFORE THAT MAKES
YOU TIRED.
WE WANT YOU TO GET A GAD
NIGHT'S SLEEP.
AND WE ARE FRESH TO TAKE
CARE OF CUSTOMERS.
THE THINGS THAT WE'LL HAVE
IN THE AD ON THANKSGIVING
DAY WE'LL HAVE THEM.
YOU DON'T HAVE TO GET THERE
AT THE FIRST STROKE OF ONE
WHEN WE OPEN TO GET THEM.
YOU KNOW?
TAKE IT EASY.
WE'LL VIT.
WE ARE NOT GOING TO GET UP
EARLY.
THAT IS ALL THE TIME WE
HAVE THIS WEEK.
THAT IS GOOD NEWS.
YOU CAN SLEEP IN AND DO THE
CHRISTMAS SHOPPING AT
BENNY'S ON BLACK FRIDAY.
I WANT TO WISH EVERYONE A
HAPPY THANKSGIVING WHEN IT
COMES IF I DON'T SEE YOU
AGAIN BEFORE THAT.
TUNE IN EVERY WEEK HERE FOR
EXECUTIVE SUITE.