Trader Joe's

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Trader Joe's
Trader Joe's is an American privately-held chain of specialty grocery stores headquartered in Monrovia, California. Its stores are located most densely in Southern California, but the chain has locations in 18 other states as of 2005. The chain was founded by Joe Coulombe and is currently owned by a family trust set up by German billionaire Theo Albrecht, one of the two brothers behind Aldi.

Products sold at "TJ's" include gourmet foods, organic foods, vegetarian food, unusual frozen foods, imported foods, domestic and imported wine, and "alternative" food items, all at a discount price. Some non-food items, including personal hygiene products and household cleaners, are also available.

Trader Joe's sells most of its items under one of several of its own private labels.

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Locations

Western states with Trader Joe's include Arizona, California, Nevada, New Mexico, Oregon, and Washington. On the east coast, stores are located in Connecticut, Delaware, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, and Virginia. In the midwest, stores are in Illinois, Indiana, Michigan, Missouri, and Ohio.

Employees

According to Business Week, Trader Joe's pays better than union wages, generous bonuses, and contributes an additional 15.4% of each worker's gross pay into a company-funded retirement plan. As of 2004, pay for entry-level part-timers was $8 to $12 an hour; first-year supervisors average more than $40,000 a year.

History

Trader Joe's began in 1958 as a Greater Los Angeles area chain of "Pronto Market” convenience stores. In 1967, the founder, Joe Coulombe, the original Trader Joe, in response to competition from 7-Eleven, differentiated the stores' offerings and doubled the floor space. Albrecht bought the company in 1979.

A Business Week article about the store noted that between 1990 and 2001, the chain quintupled its store count while increasing its profits by an order of magnitude.

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