Caldor, Inc. was a discount department store chain founded in 1951 by husband and wife Carl and Dorothy Bennett. Referred to by many as the Bloomingdale's of discounting, Caldor grew from a second story "Walk-Up-&-Save" operation in Port Chester, New York into a regional retailing giant. Its stores were earning over $1 billion in sales by the time Mr. Bennett retired in 1985, by which time Caldor was a subsidiary of Associated Dry Goods. Despite its successes, Caldor suffered from financial issues by the 1990s. The company was liquidated and all 145 stores were closed by May 1999. History Early history In 1951, while shopping at an E. J. Korvette store in New York City, newlyweds Carl and Dorothy Bennett were inspired to open their own discount store that would be different from the average postwar discount retailer. They envisioned a business that would emphasize quality of merchandise over less desirable, lower cost wares at prices 10 to 40 percent below the manufacturers' suggested list prices, along with department store level services such as well informed salespeople, merchandise guarantees, and a liberal refund policy. These turned into cornerstones of the sustained growth and success of the chain they went on to establish. Later in 1951 the couple used their $8,000 savings to open a 9,600-square-foot store in a second floor loft in Port Chester, New York. They named it Caldor, a blending of their first names. Specializing in name-brand hard goods such as appliances, electronics, home furnishings, jewelry, and sports equipment for middle to upper middle class income yet bargain-conscious consumers. Their slogan, “Where Shopping Is Always a Pleasure", was more of a way of life for the Caldor team. Carl Bennett, who had been working as a wholesale liquor salesman for a Connecticut company, was born and raised in retail. His father owned a small grocery store in Greenwich, CT, where quality of merchandise and customer appreciation were key. Bennett credits his father for teaching him the retail sensibilities that he used to guide his company throughout the years. Initial expansion With business growing steadily, the original store was replaced in 1953 with an expanded location in Port Chester, NY that also provided more modern amenities. A second Caldor was added in 1958, a 70,000-square-foot store in Norwalk, CT. This year also marked Caldor's introduction of apparel to its product line. In 1961, with four locations, Caldor Inc. went