Welcome back to Stories from the River and a brand new summer series! This new series comes from a talk that CEO Charlie Malouf gave to the retail leaders on July 10th, 2025, at the in-person, offsite, monthly GM Rx meeting in Charlotte, North Carolina. The acronym 'Rx' stands for "Retail Excellence" and also is our prescription for how we win the month, the quarter, and the year. The topic of this talk and of this series began as "Monthly Budgets Explained." But, to really explain the way that the Company sets its monthly budgets, Charlie presented the full story of how we got here with a presentation that can be called, "The Story of Broad River Retail and the Way We Play the Game - Our Version of the Great Game of Business."

In the first part of this talk, Charlie took a moment to reminisce on Broad River Retail's beginnings. This episode is part one of a four part series that will feature Charlie's keynote from the meeting as well as some audience questions.

In this first episode, Charlie addresses the much-requested topic of how monthly budgets are developed, emphasizing the importance of transparency and context. He shares stories from the company’s foundational years (2003 - 2014), tracing its journey from its early days as Ish Moore, Inc., the establishment of the 2nd operating company, Hillsboro Retail Group, Inc., and the creation of the 3rd operating company, Broad River Furniture, Inc.

Through significant milestones, challenges during the Great Recession, buying out one of the cofounders, surviving the Great Financial Crisis, and pivotal decisions that shaped Broad River into the premier Ashley Store operator it is today. Charlie relates lessons learned from both successes and failures, highlighting the company’s relentless pursuit of excellence and the value of collaboration.

In the next episode, Charlie will be focusing on the transformative events of 2015 and beyond.

Additional Resources:

Nick Saban Video Clip on High Standards that was played at the beginning of this presentation - "Mediocre People Don't Like High Achievers, and High Achievers Don't Like Mediocre People" - https://www.youtube.com/watch?v=14_PNe3lcaE

From Stories from the River General Manager Series - https://www.youtube.com/playlist?list=PLYZpX9KD7OqbAb8ZN5KEk5fCQt0vLMaXR

From Stories from the River Founders Scholarship Fund Series - https://www.youtube.com/playlist?list=PLYZpX9KD7Oqb22Apq_6qBhE2-KZlRpN56

From Broad River's Archives - the Savvy Spaces YouTube Channel - https://www.youtube.com/@SavvyFurniture

"The Great Game of Business" by Jack Stack - https://www.amazon.com/Great-Game-Business-Expanded-Updated/dp/0385348339

The Great Game of Business - https://www.greatgame.com/

Watch this episode on YouTube: https://youtu.be/ZacOr4KMGqk

Visit https://www.storiesfromtheriver.com for more episodes.

Broad River Retail brought this show to you. Visit https://BroadRiverRetail.com

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