Spencer Gifts was founded in 1947 in
Easton, Pennsylvania by Max Spencer Adler (1897–1979) as a
mail-order catalog that sold an assortment of novelty merchandise. The company moved all mail order and fulfillment operations to
Atlantic City, NJ. In 1960, Max's brother, Harry, who had been with the company since 1947, sold his shares to his brother and left the company. In 1963, Spencer Gifts opened its first retail store in the
Cherry Hill Mall in
Cherry Hill, New Jersey, where it operates to this day. After opening approximately 450 stores under the name Spencer Gifts, Adler sold Spencer Gifts to entertainment conglomerate
MCA in 1967. In 2003, Spencer's Gifts was completely rebranded after being put under new management, and with the change become known only as just Spencer's. In 1990, Spencer Gifts closed its mail-order catalog division. In 1993 and 1996, respectively, Spencer Gifts acquired the DAPY line of stores and opened its first GLOW! store. The DAPY and GLOW! trademarks were retired sometime before 2007. Spirit's stores are only open for the two months leading up to Halloween, though it maintains a website year-round. The stores are generally operated out of the spaces of recently vacated businesses. As of 2013, Spirit had over 1,000 locations, which comprised about half of Spencer's annual revenue of $250 million. In 2000, Spencer's expanded into the United Kingdom. The chain opened up to 14 stores in the United Kingdom before closing them sometime in the mid-2000s. In 2001,
Vivendi acquired Universal Studios and rebranded the entire organization as
Vivendi Universal Entertainment. Less than two years later, in 2003, GB Palladin, a joint venture between
Gordon Brothers Group and Palladin Capital Group, acquired Spencer Gifts from Vivendi, around the same time Vivendi was preparing to sell the majority of its shares of Universal Studios to
General Electric's
NBC division. As a result of the sale, Steven Silverstein became Spencer Gifts' CEO and also the CEO and president of Spirit Halloween. In fall 2004, Spencer's began redesigning its stores. In 2006, Spencer's began its "Spirit of Children" program, which raises donations through its Spirit Halloween stores and hosts Halloween parties in children's hospitals in Canada and the United States. Since 2007, the program has raised over $110 million for over 130 children's hospitals.
ACON Investments acquired the company in 2007 and sold it to Spencer's management in 2015. ==Legal issues==