August 15, 1995 |
1896: Arthur Letts opens the Broadway Department Store, a 4,000-square-foot shop at 4th Street and Broadway in Los Angeles. 1950: The company becomes Broadway-Hale Stores with the purchase of Hale Bros. Stores of Northern California. 1969: Broadway-Hale acquires Neiman-Marcus and Waldenbooks and merges with Emporium Capwell Co. of San Francisco. 1972: Philip M. Hawley is named president. The company purchases Bergdorf Goodman of New York. 1974: The company is renamed Carter Hawley Hale Stores.
February 12, 1991 |
On Feb. 24, 1896, a British-born merchant named Arthur Letts opened the Broadway Department Store in a 40-by-100-foot building at 4th Street and Broadway, then the outskirts of Los Angeles. The business made Letts so rich that he bought up a huge chunk of ranchland for $2 million and called it Holmby Hills. His son later built what is today the Playboy Mansion. During the boom years after World War II, a visionary young Broadway president, Edward W.