S&K Sales Co. history

Kaminsky sold out in 1969.

And we'd have that merchandise for the weekend." Soon the junior Siegel, who became president of the firm in 1972, was flying to places as far away as Knoxville and Atlanta, stocking new S&K branches by renting U-Hauls and making dozens of buying stops while motoring back to Richmond.

S&K started going big time in 1975, when Siegel bought 3,500 suits from Saks Fifth Avenue.

A $4.5 million, 70,000-square-foot corporate headquarters and distribution center was completed in 1985.

To finance the expansion company long-term debt had risen to $12.6 million, but a secondary stock offering in August 1989 netted the firm $4.1 million.

In 1991 it opened a Tailors Row mall-format store in a Virginia regional mall and soon opened two more, in Syracuse, New York and Winston-Salem, North Carolina, also in regional malls.

In the fiscal year ended January 25, 1992, net sales reached a record $75.1 million and net income amounted to a record $2.9 million.

By the fall of 1993 S&K had opened three more Menswear Mega Centers, one in Rockville, Maryland and the other two in Chicago suburbs.

In fiscal 1995, however, net income fell to $2.5 million from $4 million the previous year.

Siegel held 29.6 percent of the common stock in April 1997.