Rue21 Net Worth is$822 M Sales
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rue21 Inc., formerly known as Pennsylvania Fashions Inc., is headquartered in Warrendale, Pennsylvania and is a specialty discount retailer of young men and womena??s casual apparel and accessories. On November 13, 2009, rue21 announced its initial public offering. The company trades on the NASDAQ under the symbol "rue". The company is led by president and CEO Robert Fisch with Saunders Karp & Megrue (SKM) as its majority stakeholder.
In February 2002 Pennsylvania Fashions Inc., filed for Chapter 11 bankruptcy protection. It was then that SKM emerged as the majority stakeholder three years after Cary Klein sold a 50% stake to the Stamford, Connecticut-based investment firm. At the time sales among the nearly 250 stores were thought to be between $180 and $200 million annually with approximately 1,800 employees.
The company exited Chapter 11 as rue21 Inc. in May 2003 after undergoing voluntary reorganization. It set out an ambitious plan to expand its 170 stores over the next five years.
Rue21 opened its 400th store in Zachary, Louisiana, in August 2008 stating it planned to open 100 stores that year.
On July 23rd, 2009, they opened their 500th store in Harlingen, TX.
On August 12th, 2010, they opened their 600th store located in North Attleboro, MA.
On June 30th, 2011, they opened their 700th store in New Braunfels, TX.
On May 10th, 2012, they opened their 800th store in Layton, UT.
rue21 continued its growth and expansion on March 17, 2011 by announcing that it would be doubling the size of its 189,000-square-foot (17,600 m2) Distribution Center located in Weirton, West Virginia. This expansion occurred 12 months after a Distribution Center upgrade that included a new pack-to-light system as well as upgrades to the warehouse management system. CFO Keith McDonough stated, "The recently completed Distribution Center upgrades, including additional packing capacity, new systems and performance metrics, coupled with this planned expan

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Rue21 Latest News

Rue21 appoints interim CEO; plans strategic brand building

Trendy fashion retailer Rue21 recently just announced a new interim chief executive officer for the company. Taking over the position from Bob Fisch, Keith McDonough will be stepping up from his prior position at the company as chief financial officer.
Posted: October 4, 2016, 4:10 am

Embattled Rue21 replaces CEO Fisch

Teen apparel retailer Rue21 on Saturday abruptly replaced CEO Bob Fisch after 15 years at the helm. No reason was given for the move. Keith McDonough, who has held the role as CFO for the previous 13 years, will take over as Rue21's interim CEO while the ...
Posted: October 3, 2016, 6:41 am

rue21 to Join The Shoppes at Parma—November Opening Expected

PARMA, Ohio--(BUSINESS WIRE)--PECO Real Estate Partners (PREP) is pleased to announce that rue21, a leading teen specialty apparel retailer, will join The Shoppes at Parma. Construction on the new 6,752-square-foot store is underway. The store will be ...
Posted: October 19, 2016, 1:42 pm
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