Matt Beall, Chairman and CEO, Bealls Inc.
Matt Beall, chairman and CEO of Bealls Inc., reflects on 110 years of family legacy, cultural evolution and the future of off-price retail. As a fourth-generation leader, Matt offers a rare look inside the company’s long-standing commitment to human-centered leadership — and how those values are shaping its future.
In recent years, the company has fully embraced an off-price identity. Once split between an off-price chain and a department store chain, Bealls has unified its merchandising and operations under one model — mirroring the approach of major off-price retailers like TJ Maxx and Marshalls. This “One Bealls” strategy has streamlined the business, eliminated internal competition and strengthened its market position. “It’s been a complete flip,” Beall explains, pointing to how off-price retailers are the companies with the high market caps today. “Value is king.”
Beall describes a childhood growing up in the store, looking up to his father, who led the company. But while Bealls has been a family business for generations, Beall says its not the responsibility of a family legacy that drives him — it's serving today's customer and today's employees. "How can I help the people that are choosing to go through this journey of life with me and this company and work together in order to be successful? That's what motivates me," he says.
Beall's experience working in the stores shaped his leadership style and methods, including his practice of making unannounced store visits. Recalling his previous experience and all the anxiety executives' planned visits caused, Beall says dropping in casually keeps the focus where it should be — on the store, its associates and guests — not on him. And conversations with team members allow them to receive genuine feedback and compliments.
From its humble beginnings to its modern off-price strategy, Bealls’ story is one of resilience, evolution, and human connection. Matt Beall stands at the intersection of legacy and innovation, determined to keep the company’s values as strong as its growth.
(00:00:00) Early memories and family pressure
The weight of legacy and expectations as a fourth-generation leader
Why fear of “screwing it up” became a personal motivator
How confidence and values shaped his leadership vision
(00:05:27) Seeing the store through the customer’s eyes
How removing pressure improves employee engagement
What casual, informal visits uncover about culture and operations
The power of direct connection with store teams
(00:08:05) The power of the off-price model
Why off-price retail remains a winning strategy
How Bealls unified its business under “One Bealls”
What sets off-price value apart from traditional department stores
(00:14:25) Leading for people, not legacy
Why Matt focuses on employees over family history
How 15,000 team members shape his leadership motivation
Why separating legacy from responsibility keeps him grounded
(00:16:31) The future of retail
Why ease and speed will continue to shape shopping habits
How frictionless bricks-and-mortar experiences will evolve
How AI will drive personalization and product discovery
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