Max Platoff
Long/short equity

It's Only A Matter Of Time Before J.W. Mays Reveals Its True Value

Company Background

Founded in 1924, J.W. Mays Inc. (NASDAQ:MAYS) used to be one of the premier discount department stores of New York City. Its profitability increased over the years until the early 1970s, at which point it owned and operated 9 different retail locations and employed as many as 5,000 workers. In its heyday, the company was a rival of both low- and high-end department stores, and was known for the slogan "Everyday s a Sales Day."

Business began to worsen towards the end of that decade, however, and J.W. Mays filed for bankruptcy in 1982, leaving only three locations remaining in 1988. The following year, the company reincorporated as a real estate holding company,...

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