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Ocean State Job Lot
Ocean State Job Lot is a discount retail chain with ~150 stores across the Northeast, founded in 1977 and family-controlled by CEO Marc Perlman.
Ocean State Job Lot
Ocean State Job Lot was founded in 1977 by Marc Perlman and David Sarlitto, originally operating as a surplus store in North Kingstown, RI. The company never accepted outside equity or taken on institutional debt; it remains wholly family-controlled, with Perlman serving as CEO and President. Investment-wise, Ocean State Job Lot runs a lean, asset-lite retail model based on opportunistic buying of excess inventory from manufacturers and retailers. It then sells those goods at 40–70% below traditional retail prices. The product mix spans groceries, personal care, household goods, hardware, and seasonal items. The company operates primarily in the Northeast U.S., with distribution centers in Cranston, RI, and a corporate office in Kingstown. The company employs roughly 6,000 people across its 150+ stores. In 2023, Ocean State Job Lot donated over $10M in goods to local food banks through its corporate giving program, per public statements. The firm has made no public moves into alternative asset classes, real estate development, or separate investment vehicles. Structurally, Ocean State Job Lot is a classic closely-held retail business with no plans to go public. The Perlman family controls all voting shares, and succession has been managed internally. Unlike many family-controlled retailers that spin off real estate trusts or launch third-party lines, Job Lot remains concentrated on one business line: discount retail.
General information
Firm type
Discount Retail Chain
Year founded
1977
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Kingstown
Corporate office
Kingstown, Rhode Island, United States
Principals
Marc Perlman
CEO and President
David Sarlitto
Executive Vice President
Sector focus
Frequently asked questions
Who owns Ocean State Job Lot?
Ocean State Job Lot remains privately held by the founding Perlman family. CEO Marc Perlman is the majority owner; no institutional investors or private equity firms hold equity. The stock has never traded publicly (per public record).
How does Ocean State Job Lot source its merchandise?
The company buys excess inventory directly from manufacturers, retailers, and distributors. This 'closeout' model allows Job Lot to acquire goods below wholesale cost and sell them at steep discounts. The sourcing team negotiates opportunistic deals rather than partnering with traditional wholesale networks.
What is Ocean State Job Lot's geographic footprint?
The chain operates exclusively in the northeastern United States: Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont. It has not expanded beyond that region, nor announced any plans to do so (per public record).
Does Ocean State Job Lot invest in real estate or other assets outside of retail?
No. The company’s real estate holdings are primarily stores and distribution centers. It has no disclosed positions in investment funds, venture capital, private debt, or other asset classes. All retained earnings are reinvested into inventory and store operations (per public record).
Has Ocean State Job Lot ever taken on outside investment?
No. The company has been entirely self-funded since its founding. It has not issued stock, taken on private equity, or received venture capital. The firm's only debt has been standard bank lines for working capital (per public record).
What is Ocean State Job Lot’s philanthropic focus?
The company runs a corporate giving program concentrated on food security. In 2023, it donated over $10M in goods to local food banks. The firm's charitable arm is not a separate foundation; it operates as a direct company program (per the firm's 2023 statement).
How many employees does Ocean State Job Lot have?
The company employs approximately 6,000 people, according to public filings. Most positions are in stores; the corporate headquarters in Kingstown, RI houses management and administrative staff. The workforce is almost entirely hourly retail workers (per public record).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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