Word: chaine
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Dates: during 1960-1969
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...business on its own, which will benefit all of us." Though plagued by recent troubles, Korvette obviously has high hopes too. Built for $1,500,000 from the shell of the defunct Saks-34th Street, the new store-Korvette's 45th-is meant to be the nine-state chain's biggest revenue earner, with expectations of $35 million in annual sales. The store will stress conveniently arranged, gaily displayed merchandise while playing down the head-on price rivalry that is supposed to characterize discount operations...
Discount operators, meanwhile, have had difficulty adhering to their old high-volume, low-overhead gospel. "Customers are demanding from us what they get in traditional department stores," explains Sherwin Newar, president of the Houston-based Sage International discount chain. This means credit, home delivery and more attractive stores-all of which cost money. Though many discount houses cut costs by using checkout counters and shopping carts instead of big sales forces, other increases in overhead have sent their price markups, once about 25%, as high as 35% -ominously close to the typical department store...
...called discount stores are nonetheless multiplying fast; they now account for about $15 billion in annual sales. S. S. Kresge Co., which last year passed Korvette as the biggest discount chain, has 204 K Mart discount stores and plans to add 50 new ones in the next year. In the face of such breathless expansion, as well as the aggressive stances of established department stores, many a marginal discounter may be doomed. A discount furniture store in Atlanta, for example, went broke after Rich's, the city's largest department store, consistently matched its prices...
...decision was made in a criminal proceeding against William McGuire, a 20 year old clerk at the Boston branch of the Paperback Booksmith. McGuire was fined two hundred dollars for selling the issue which was the tenth the Avatar has published. Marshall Smith, manager of the Booksmith chain, said that his lawyers would appeal the decision. In Massachusetts this means a new trial before the State Superior Court...
Stop and Shop, the largest supermarket chain in New England, yesterday agreed to buy no more Giumarra grapes until the California farm workers national boycott against Giumarra has ended...