Hardware Retailing

FEB 2017

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

Issue link: http://www.hardwareretailingarchive.com/i/776295

Contents of this Issue


Page 85 of 118

February 2017 | HARDWARE RETAILING 79 eight years, and in the corporate headquarters, it's more than 12 years, says Jones. The company has created a top-500 list of its most tenured employees called the Fab 500. Currently, the Fab 500 employee with the least tenure still has a little more than 11 years of service with the company. Sustaining a Legacy The extensive list of long-tenured employees at McCoy's is second only to the tenure of the company itself. "I'm a fourth-generation owner. We know we are breaking a lot of odds to get to this place," Jones says. She currently serves as executive vice president and chief operating officer, and she co-owns McCoy's Building Supply with her immediate family. Her father, Brian, is the company's current CEO. Jones's great-grandfather Frank McCoy started McCoy's Roofing Company in Galveston, Texas, in 1927. Her grandfather Emmett took over the store when he returned from World War II, adding building supplies to the product mix and establishing McCoy Supply Company. In September 1961, a massive hurricane and dozens of tornadoes hit the Texas Gulf Coast. The combination of disasters caused millions of dollars of damage. McCoy Supply Company helped Galveston and the surrounding areas rebuild over the next year, but retained its pre-disaster prices. "In the aftermath of the disasters, Emmett was insistent on not raising prices on the supplies people needed to rebuild," Jones says. "That practice is a part of McCoy's legacy in treating customers fairly." Following the rebuilding efforts, Emmett expanded the business into a second location in Texas City, Texas. He discontinued the roofing business in 1964 and developed what is now McCoy's Building Supply. Over the next several decades, the company expanded into dozens more locations throughout the Gulf Coast region. Emmett ran the business until he retired in 1997, and his sons Brian and Mike McCoy were co-CEOs until Mike retired in 2001. When they took over in the late 1990s, Brian and Mike recognized the need to establish a comprehensive strategy to ensure McCoy's could compete against big-box stores in the professional market. "At the time, we didn't offer credit or other services typical of a lumberyard that serves builders and contractors, so we weren't completely a pro lumberyard or completely a hardware retailer," Jones says. As part of its modernization strategy in the early 2000s, McCoy's implemented credit and 1940s 1950s-1960s 1970s-1980s 1990s 2000s

Articles in this issue

Archives of this issue

view archives of Hardware Retailing - FEB 2017