Joseph E. Brooks

JOSEPH E. BROOKS A retailing legend according to the New York Times, Joseph E. Brooks was born November 2, 1927. He died yesterday, January 26, 2012, of natural causes. Mr. Brooks was famous for taking over retail stores and making their sales increase dramatically; stores including Filene's, Rike's Burdines, Lord & Taylor, and AnnTaylor Stores. Mr. Brooks was Chairman of the Board and Chief Executive Officer of AnnTaylor Stores Corporation and AnnTaylor, Inc. AnnTaylor Stores Corporation is an internationally known women's specialty store which grew under Mr. Brooks' leadership. Mr. Brooks, together with Merrill Lynch Capital Partners, Inc., acquired AnnTaylor in February 1989. The Company increased its sales and EBITDA by more than 50%, introduced its own private label shoe line, entered 34 new markets, and achieved sales per square foot of over $700 among the highest in retailing. AnnTaylor went public in an initial public offering in May of 1991. Mr. Brooks was Chairman and Chief Executive Officer of Lord & Taylor from 1975 through 1986. After eleven years of extraordinary growth under Brooks' leadership, Lord & Taylor's sales increased from approximately $200,000,000 to $900,000,000. Lord & Taylor's operating profits grew to a compound rate of 17.5% per year despite aggressive store expansion and the decade of erratic periods of growth among the retailing giants. Mr. Brooks extended the Lord & Taylor image of updated classic American fashion across the United States, expanding the 19 stores he had inherited to 46. Lord & Taylor expanded into Florida, and intensified its presence in Washington, Boston, Chicago, Detroit, Houston, Dallas; along with the existing markets of the New York metropolitan area, Hartford, and others. Mr. Brooks was elected to the Board of Directors of May Company Department Stores in 1986 and was Senior Executive Vice President and a member of the Board of Directors for Associated Dry Goods Corporation from 1975 through 1986. Mr. Brooks headed Filene's and Rike's, and was associated with Burdines, all divisions of Federated Department Stores. Mr. Brooks and his wife, Alice K. Brooks, launched the International Symposium on the Neurosciences at Harvard Medical School, established a Faculty Scholar at the Center for Blood Diseases at the University of Miami, School of Medicine, and are Third Century Fellows at Harvard Medical School. Most recently, he has served on the Advisory Board of New York Hospital - Cornell Medical Center, the Board of Directors of the Michael Wolk Heart Foundation, Inc., the Board of Directors of the international Tennis Hall of Fame, the International Advisory Board for the Harvard AIDS Institute, and was involved in a multitude of community activities and charities. Joseph Brooks is survived by his devoted wife of 61 years, Alice K. Brooks, his son, Thomas H.K. Brooks, daughter-in-law, Judith M. Brooks, his daughter, Elizabeth B. Rains and son-in-law, C. Eric Rains, his daughter, Victoria B. Stafford, grandson, Thomas S. Brooks, Robert H. Stafford IV, Cameron J. Stafford and Ryan J. Stafford, and granddaughter, Alexa C. Stafford. MEMORIAL SERVICE WILL BE PRIVATE Fred D. Knapp Funeral Home is assisting the family with arrangements In lieu of flowers, memorial contributions may be made in memory of Joseph E. Brooks to: The Harvard AIDS Initiative, 651 Huntington Avenue, Boston, MA 02115