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Who is Bernie?
New England’s largest independent retailer of TVs and Appliances expands for an even stronger future...
The Bernie’s of 2009 is very different from the Bernie’s of 1947, although the same things that were important then, are equally if not more important now. When Bernie Rosenberg started the business in 1947 as a gas station in Hartford, Conn., gas stations were called service stations. Now, with 15 stores selling TVs, Appliances and more, service is still the key to Bernie’s success.
Bernie’s is New England’s largest independent retailer of TVs and Appliances with 15 stores in Connecticut, Massachusetts, and Rhode Island. Bernie’s was recently ranked nationally as the 28th largest Appliance and 82nd largest Electronics retailer in the United States. Bernie’s carries top brand name TVs, Appliances and Consumer Electronics. In addition Bernie’s carries Serta Bedding, Ashley Furniture, Weber Grills and more.
The Six Lives of Bernie’s!
Milton Rosenberg, Bernie’s CEO, grew up in the business and says the company has actually gone through six distinct periods which he calls “The Six lives of Bernie’s”.
The beginning:
Bernie’s was founded in 1947 and evolved from a single location gas service station to a five-store TV and Appliance chain in 1985. When our founder, “Bernie” Rosenberg sold the company to Newmark & Lewis of Hicksville, N.Y. Bernie’s had operated for almost 40 years as a small, family-owned operation, with annual sales of approximately $18 million a year. Newmark & Lewis was also a family-run company (though much larger, with 33 stores), so it seemed like a good fit.
Second Life:
Milton stayed on as the President of the Connecticut and Massachusetts division, opening up nine new locations for Newmark & Lewis. Milton was committed to ensuring that Bernie’s fundamental concepts of outstanding customer service and integrity were maintained as the chain added new stores. His belief, passed on from his father, was that honesty, integrity and great service were what made Bernie’s special to its customers.
Third Life:
In 1990 Milton parted ways with Newmark & Lewis and he purchased another retailer, House of TV, located in Springfield, MA. In the first year he turned the $4.5 million business into a $15 million powerhouse by focusing on taking great care of his customers. During that same time frame, Newmark & Lewis fell on hard times and they filed for bankruptcy in 1991 .
In October 1991, Milton bought back the Bernie’s name for $1.00, which began the third chapter in Bernie’s lives. Bernie’s had to work very hard to recapture market share. “From ‘85 to ‘90 there was a huge Consumer Electronics(CE) invasion in Connecticut,” says Milton, “Everybody showed up. New competitors included; Crazy Eddie, The Wiz and others.” And this was before the national CE chains were part of the picture. Even so, it was a tough time for CE and appliance retailing, but Bernie’s solid reputation and unrelenting focus on taking great care of its customers kept the company successful.
When Milton reopened Bernie’s in October of 1991 he ran a huge promotion to let the public know that the old Bernie’s was back and that customers could buy with confidence. “Even after Newmark & Lewis had bruised the reputation of the company they’d bought, Bernie’s bounced back right away! It was awesome,” said Milton.
Fourth Life:
Began on December 24, 2004 at 2:30 p.m. When Milton sold 30 percent of the company to his associates via an employee stock ownership plan (ESOP). This was a move he had been researching for about three years. Through the ESOP, Bernie’s associates became part owners. Rosenberg says that while his associates have always been exceptional, they now see themselves as a greater part of the company. “ They are the company; they are the reason the company continues to succeed, our associates are what differentiates us from our competitors” he says. When the ESOP was launched, about half of the 362 employees were already fully vested.
Fifth Life:
After celebrating its 60th Anniversary in 2007, Bernie’s began to position itself for future growth. Over the last two years Milton assembled a new leadership team to ensure that Bernie’s continues to improve, grow and ensure that there was still a Bernie’s serving it’s customers well into the future. In fall of 2006, Milton recruited Mike Honeyman as President and COO. A 22 year retail veteran, Mike was instrumental in the improvement and growth of Bed Bath & Beyond, The Christmas Tree Shops and Bob’s Stores.
“In this ever changing and challenging environment, we’ve rolled up our sleeves, re-evaluated and invested in our company in preparation for the long haul. We are a small, nimble company that is no longer constrained by yesterday’s inside the box thinking. We are ever vigilant in our intense focus on every facet of our business to better serve our customers.” Explains Honeyman.
Now Entering Sixth Life:
In 2008, Bernie’s has entered into its sixth life with the start of their new expansion plans. Bernie’s started the year by introducing a new prototype store with the complete renovation of the company’s Waterford location. In August 2008, Bernie’s entered the Western Connecticut Fairfield county market, with its Brookfield store. In the fall of 2008, Bernie's launched their new selling website bernies.com.
Bernie’s will continue to improve and grow from strength, continuing to research other potential store locations through out New England in order to provide future Bernie’s customers with what our current customers expect, outstanding customer service, great selection of brands all at prices that Can’t Be Beat!
Bernie’s secret for success has always been its people. Bernie’s employees are empowered to do what ever is necessary to satisfy their customers, every customer, every time. That is what the national chains can never do explains Milton, “It’s all about knowing who your boss is. It’s not me, it’s the customer. If you understand that, you’ll always have a good business.”
For over 60 years, customers in New England understand one thing...
“YOU CAN’T BEAT BERNIE’S!
Because Our People Make The Difference”
