Abstract: A tray for transporting and displaying merchandise includes a bottom for supporting the merchandise, a sidewall for retaining said merchandise on the bottom, and foot members which are capable of engaging another, vertically adjacent tray. The sidewall includes a first side portion which is mounted for movement between a first position for retaining the merchandise on the bottom and a second position for permitting the merchandise to be removed. During shipment, the sidewalls are vertical to retain the merchandise. After the tray has reached its destination, the sidewalls are lowered to display the merchandise and permit it to be removed from the tray by the customer.