Sam Gersen, Filene s Basement Most of us have visited Filene s Basement or at least have heard of the retailer. Sam Gersen came to share with us his passion for the off-price retailer.
Department stores lie.
Their sale price in actuality is the real price. Since its spin-off from Filene s in 1984, Filene s Basement has focused on delivering cheap price for nationally recognized brands. In the early 1990s, along with other retailers, it experienced a major downturn in their profitability. The threat of bankruptcy is no longer on the horizon. But, then big companies come back and rule the world.