Business Beat: RI-based Ocean State Job Lot a “Gold Winner”, US Best Managed Company

Leading discount retail chain earns “Gold Winner” distinction as a four-time honoree

Ocean State Job Lot (OSJL), a leading discount closeout retailer headquartered in Rhode Island with 153 stores throughout New England, New Jersey, New York, and Pennsylvania, is proud to announce it has been selected as a 2024 US Best Managed company. Now in its fifth year, the award, sponsored by Deloitte* Private and The Wall Street Journal, recognizes the achievements of US private companies and the successes of their management teams.  This is the fourth consecutive year OSJL has been an honoree, earning the company the “Gold Winner” distinction.

US Best Managed Companies is part of a global Deloitte Private program. Honorees are selected by an external panel of judges who evaluate applicants based on strategy, ability to execute, culture, governance, and financial performance. They join an ecosystem of organizations from more than 44 countries.

“At Ocean State Job Lot, our mission, vision, and values guide us as we strive for excellence in every aspect of our business, from providing a people-first environment for our associates to learn and grow, to the various philanthropic endeavors our company undertakes,” said Marc Perlman, Co-founder and CEO, Ocean State Job Lot. “Being named a US Best Managed Company ‘Gold Winner’ is a testament to the continued dedication of our leadership and associates who make Ocean State Job Lot’s continued success possible.”

About the Best Managed Companies Program:

The Best Managed Companies program is a mark of excellence for private companies. U.S. designees have revenues of at least $250 million. Thousands of private companies around the world have competed for this designation in their respective countries through a rigorous and independent process that evaluates four key criteria in their management skills and practices — strategy, execution, culture, and governance/financials. For more information, visit www.usbestmanagedcompanies.com. 

About Ocean State Job Lot:

Founded in 1977, Ocean State Job Lot (OSJL) is a growing, privately held discount retail chain with 153 stores in New England, New York, New Jersey, and Pennsylvania, approximately 5,600 employees, and annual sales exceeding $800 million. OSJL Shoppers find an ever-changing array of brand name, first quality merchandise at closeout prices, including household goods, apparel, pet supplies, seasonal products (holiday, gardening, patio, pool, and beach supplies), and kitchen pantry staples at a fraction of their typical price. The company was named a four-time “Best Employer” by Forbes® Magazine*, a four-time US Best Managed Company by Deloitte, a two-time winner of the Inspiring Workplaces in North America Award, and a Global Top 100 Inspiring Workplaces winner. *Ocean State Job Lot is not affiliated with Forbes®.

The Ocean State Job Lot Charitable Foundation has a long history of philanthropic leadership, supporting numerous causes, including feeding the hungry, helping the homeless, assisting veterans and military families, aiding animal rescue, caring for children, advancing healthcare, supporting the arts, and promoting learning. The Foundation’s operational, administrative, and overhead expenses are covered by Ocean State Job Lot, not the Foundation, ensuring that 100% of every dollar raised through the Foundation goes directly to helping those in need.

Ocean State Job Lot is headquartered in the Quonset Point Business Park at 375 Commerce Park Road, North Kingstown, RI 02852.  Phone: (401) 295-2672; Website: OceanStateJobLot.com.

*Please see www.deloitte.com/us/about for a detailed description of their legal structure.