The following history of the growth of the Efird organization appeared in the Efird Chain Sale Special, which was recently edited and published by the head offices of the company in Charlotte:
“The story of Efird performance has few equals in the mercantile history of America.
From one small store, doing less than $100,000 a year, to a mighty chain of 33 large mercantile establishments, doing over $15 million in business each year—that is the story of Efird performance in the short span of 15 years.
An unusual record, to say the least.
The reason forms the basis for this issue today, which is a Carolina booster edition, who financed by the Efird stores.
No success of this character could have been founded on selfishness. No success of this character could have been achieved by cutting the corners, by sharp practices or by questionable trading. The profiteer could not have accomplished this result.
What happened was this: Five boys, who a little over a decade ago were raising five-cent cotton on an Anson county farm, and who a little later on were clerking in a Charlotte store at $15 and $25 a month, have simply succeeded in carrying out an ambition in a fair and praiseworthy manner.
J.B. Efird, head of the business today, believed that a big mercantile business could be established right here in the Carolinas—both wholesale and retail. Every year he saw thousands of merchants go north to buy goods from commission houses and pay extra freights and additional heavy commission charges. He saw no reason why these costs could not be saved to the merchant and to the ultimate consumer. So he began to put his ideas into practice. He and his brother got hold of a Charlotte store. Later they secured another, and later another until today they have 33 of the largest stores in the Carolinas on their list.
How well this theory has worked is shown by the fact that these 33 stores last year sold over $15 million worth of merchandise.
The month of June has marked the annual Efird chain sale. From reports heard, managers expect to reach their goal of $2 million worth of goods sold in that time. The Efird policy from the outset has been to be a part and parcel of Carolina’s development, to aid in this development in every possible way.
Fifty years ago there was not a solvent bank in North Carolina. Twenty-five years ago there was only a handful of mills and other industries in the Charlotte territory.
Today there are over 700 cotton mills within a radius of 100 miles of Charlotte. Seventy-five million dollars worth of automobiles and tires are sold through Charlotte distributors each year. Over a half million hydro-electric power is being developed in the piedmont section today from streams which 20 years ago were not serving Carolina.
No states in America have recorded such a wonderful tale of industrial expansion as have the Carolinas during the past 10 years.
Carolina prosperity and Carolina progress is the talk and the wonder of America today. North Carolina alone is spending $125 million for good roads, while her schooling system and her broad system of charities requires the addition of many more millions. But she is making money fast.
North Carolina pays to the federal government in taxes today more than the total paid by Georgia, Alabama, Florida, Mississippi and Louisiana.
The Efird business which has had such wonderful success finds its own records of expansion outdistance by its native state, and no business in the Carolinas is prouder of Carolina’s growth than the 33 Efird stores.
The Efird idea is to try and keep pace with the wonderful growth of the Carolinas—a growth without a parallel in American history.
From page 2 of The Concord Times, Monday, June 25, 1923
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