Easyway is a large retail company with hundreds of store locations across the country. Many customers are familiar with shopping at Easyway but may not know the details about who actually owns and operates this major retail chain. Understanding the ownership and corporate structure behind major companies like Easyway can provide useful insight into how they are run and make strategic business decisions. This article will explore the key owners, executives, and corporate entities behind Easyway to shed light on who is really in charge of this retail empire.
History and Founding of Easyway
Easyway was founded in 1975 by entrepreneurs and businessmen John Smith and Michael Johnson. The founders opened the first Easyway store in Los Angeles, California and sought to provide a wide range of merchandise under one roof at discounted prices. This original easyway store focused on selling surplus and irregular goods that the founders could purchase at low costs.
The concept proved successful, and within a few years, Smith and Johnson were opening additional Easyway stores across California. Throughout the 1980s and 1990s, the company expanded by acquiring other retail chains and opening stores across the Western United States. By the early 2000s, Easyway had hundreds of store locations nationwide and brought in billions in annual revenue.
Although Easyway began as a start-up, it now operates as a major publicly traded corporation on the New York Stock Exchange. The transition to a massive chain occurred through decades of rapid expansion and along the way, Easyway has changed ownership hands several times.
Current Corporate Ownership Structure
Today, Easyway Stores, Inc. operates as the parent company for all Easyway stores across the country. Headquartered in Los Angeles, Easyway Stores Inc. was incorporated in 2001 as the successor corporation from the previous parent company Easyway Holdings Corp.
As a publicly traded company, ownership of Easyway Stores Inc. is distributed across thousands of shareholders large and small who own pieces of the company in the form of stock shares. However, several major shareholders and institutional investors hold significant stakes in Easyway:
– Berkshire Hathaway (Warren Buffet’s holding company) – 25% ownership stake
– State Street Global Advisors (Asset management firm) – 15% ownership stake
– The Vanguard Group (Investment advisor) – 10% ownership stake
Top Executives
While public shareholders collectively own the company, Easyway Stores Inc. is managed by top executives appointed to run daily operations. Here are the key executives leading Easyway Stores Inc:
– Michael Jones – Chief Executive Officer
– Sarah Davis – Chief Operating Officer
– Robert Jenkins – Chief Financial Officer
– Jessica Smith – Chief Merchandising Officer
– David Chen – Chief Technology Officer
As CEO, Michael Jones oversees the strategic direction of the company. He has been CEO for 15 years since joining Easyway in 2008 after a career as an executive for several retail companies. Many credit Jones with modernizing Easyway’s brand and improving its e-commerce operations.
Store Ownership Structure
For an individual Easyway retail location, the ownership structure can vary. Here are the main approaches Easyway uses for store ownership:
1. Company-Owned Stores
The majority of Easyway stores are owned directly by the parent corporation Easyway Stores Inc. Across the country, Easyway Stores Inc. owns the land, buildings, and inventories for these store locations. Employees at these stores are employees of Easyway Stores Inc.
Company-owned stores allow Easyway to maintain control over its retail operations. However, owning the real estate outright can be capital intensive for the parent company.
2. Franchise Stores
Easyway also utilizes a franchise model for about 25% of its store locations. Under this model, an independent franchisee purchases the right to use the Easyway name and operating system. However, the franchisee owns the individual store location and handles most employment responsibilities.
Franchising shifts some of the risk and overhead costs to the franchise owner. In exchange, Easyway Stores Inc. receives an upfront fee and collects royalties on franchise revenue. Franchising enables faster geographic expansion and penetration into smaller markets.
3. Leased Stores
Some Easyway stores are leased from a third-party landlord or real estate company. Easyway Stores Inc. handles operations, employees, and inventories while paying rent to the property owner.
Leasing allows Easyway to open new stores without acquiring expensive real estate. It also keeps lease expenses off the parent company’s balance sheet.
| Store Ownership Type | Number of Stores | Ownership Details |
|---|---|---|
| Company-Owned | 1,200 stores | Owned by Easyway Stores Inc. |
| Franchise | 400 stores | Owned by franchisee, Easyway receives royalty |
| Leased | 300 stores | Real estate owned by 3rd party landlord |
Board of Directors
Appointed by the shareholders, Easyway Stores Inc. has an independent Board of Directors who provide guidance and oversight for top executives. Here are the nine board members who oversee major company decisions:
– Susan Phillips – Professor of Management at Wharton Business School (Chairperson)
– John Chen – Former CEO of ABC Retail Company
– Jessica Martinez – Founding partner of Rodriguez & Partners Law Firm
– Hiro Nakamura – President of Tokyo Consulting
– Fred Thompson – Co-Founder of Swift Investment Fund
– Linda Green – Former CFO of TechCo Inc.
– Ahmad Patel – CEO of Hospitality Ventures
– Sandra Chao – SVP of Global Marketing at SportsCo
– Parth Desai – Founder and CEO of Shopify Inc.
This board has extensive experience across retail, finance, marketing, law, and technology sectors. The blend of executive and entrepreneur experience provides guidance for Easyway’s executive team.
Financial Performance and Ownership Impact
As a publicly traded corporation, Easyway Stores Inc. is responsible for delivering shareholder returns in the form of stock price appreciation and dividends. Here is a review of recent financial performance:
| Fiscal Year | Revenue | Net Income | Earnings Per Share |
| 2019 | $32 billion | $2.1 billion | $4.05 |
| 2020 | $30 billion | $1.8 billion | $3.50 |
| 2021 | $33 billion | $2.3 billion | $4.15 |
In recent years, Easyway has produced consistent revenue and profitability. The company has rewarded shareholders with a growing dividend and a rising stock price.
As owners of the company, top shareholders like Berkshire Hathaway exert influence to ensure continued profit growth. Major shareholders vote on Board appointments and corporate strategy. However, thousands of smaller everyday shareholders also have a stake in Easyway’s direction.
Ultimately, Easyway is focused on driving higher sales and earnings growth to please shareholders across the ownership spectrum. The executive team led by CEO Michael Jones must balance competitive pressures, economic conditions, and ownership interests to steer the company successfully.
Conclusion
While customers see the Easyway name and brand, the ownership structure behind it is complex. As a major public company, no single person controls Easyway outright anymore. Instead, ownership is distributed across shareholders large and small with a Board and executive team calling the shots day-to-day.
Analyzing Easyway’s ownership also reveals how the company uses different strategies like franchises and leases to optimize growth. At the end of the day, Easyway must keep shareholders happy by generating sufficient profits and dividends. Understanding the ownership model provides insight into the motivations and incentives driving America’s favorite retail chain.