- 4 -
at Two Pershing Square, 2300 Main Street, Kansas City, Missouri
(Two Pershing Square), since October 1986.
Payless is a full-line building materials supplier serving
the home improvement, maintenance, and repair market. Payless’
customers include both “do-it-yourself” customers and
professional contractors such as remodelers, residential
builders, and other similar businesses that purchase large
quantities of building materials. In the year in issue, Payless
operated 181 stores in 23 States and had 13,685 employees.
Payless’ sales for 1986 were $1,525,648,000. During 1986,
Payless purchased merchandise from approximately 3,000 different
suppliers. Payless purchased some of its merchandise, including
home improvement products, equipment, supplies, and materials
from foreign manufacturers and vendors. Beginning in 1981,
Payless purchased merchandise from foreign sources through its
import department with the assistance of various purchasing
agents. None of the purchasing agents utilized by Payless were
employees of Payless. Beginning in 1985, Payless purchased
merchandise from foreign sources through Multi-Growth, Ltd., a
limited liability company organized under the laws of Hong Kong.3
In 1986, Payless’ cost of merchandise sold was $1,041,678,000.
In 1986, Payless purchased merchandise from foreign manufacturers
3The record does not disclose any ownership interest held by
Payless in Multi-Growth, Ltd., and petitioner did not assert any
such interest on brief.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Next
Last modified: May 25, 2011