Alfred Marshall (businessman) facts for kids

Alfred Marshall (born February 28, 1919 – died December 28, 2013) was an American businessman. He is famous for starting Marshalls, a popular chain of department stores. These stores sell well-known brands of clothing and other items at much lower prices. They offer products that might be extra stock, slightly imperfect, or from a past season. Alfred Marshall opened the very first Marshalls store in 1956 in Beverly, Massachusetts.

Alfred Marshall's Early Life

Alfred Marshall was born on February 28, 1919, in Lawrence, Massachusetts. His family faced tough times during the Great Depression, a period when many people lost their jobs and money. In 1937, he finished high school at Beverly High School in Beverly, Massachusetts.

After high school, Alfred worked for the United States Navy as a civilian underwater welder. This meant he helped repair ships. After the attack on Pearl Harbor in 1941, he went to Hawaii to help fix damaged ships there. When World War II ended, Marshall returned to Beverly. He married Marirose Pelletier, who was his first wife.

Starting the Marshalls Business

After the war, Alfred Marshall first worked as a welder and contractor. Then, he bought a fruit stand. He worked hard and grew this small stand into a full supermarket. By the 1950s, his supermarket was selling many different products in large quantities. These included things like toiletries, baby items, and cosmetics.

In 1956, Alfred Marshall decided to add something new to his supermarket in Beverly, Massachusetts. With money from two business partners, he opened a new section. This new part became the very first Marshalls department store. The company later removed the apostrophe from its name. This original Marshalls store stayed open for many years. However, it eventually closed and is now the site of another supermarket.

How Marshalls Grew

Alfred Marshall and his business partners helped the Marshalls chain grow a lot during the 1960s and 1970s. By 1976, Marshalls had 36 stores. These stores were located across New England and California. At this time, Marshall and three other partners directly owned all the stores.

In 1976, the partners sold Marshalls to a company called Melville Corporation. Later, in 1995, Marshalls was bought by TJX Companies. This company also owns other well-known stores like T.J. Maxx and HomeGoods. When TJX Companies bought Marshalls in 1995, there were 496 Marshalls stores. By 2012, the number of Marshalls stores worldwide had grown to 904.

Alfred Marshall's Later Life

Alfred Marshall passed away on December 28, 2013, in Boca Raton, Florida. He was 94 years old and had been ill for a short time. His first wife, Marirose, had died in 2001. His second wife was Estelle Newberg. Alfred Marshall had three children: Ronald Marshall, Jan Marshall, and Deborah Miller.

At the time of his death, he lived in Boca Raton. His funeral service was held in his hometown of Beverly, Massachusetts, at Temple B'nai Abraham. He was buried at Sons of Abraham Cemetery.