Word: discount
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Dates: during 1980-1989
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Aside from taste, the most important weapon of the great pizza war is home delivery. While mom-and-pop parlors have long offered this service, the upstart Domino's Pizza of Ann Arbor, Mich., upped the ante. Promising a $3 discount on the price of any pie that takes longer than 30 minutes to arrive, Domino's, now the second largest chain, has grown to 4,375 outlets. At least one Domino's operator even delivers by boat. Art Hurteau, 29, owner of an outlet on Missouri's Lake of the Ozarks, maintains a fleet of ten speedboats...
...economists predict an outright recession this year, but the long-running consumer spending spree is expected to taper off considerably. While consumers seem to have taken the stock-market crash in stride, they are becoming worried about the debt load they are carrying. Result: the overabundant department stores, discount outlets and specialty boutiques will be fighting ever more fiercely for consumer dollars. Says Bernard Brennan, chairman of the Montgomery Ward chain: "There's no question about the upheaval in the industry...
...large U.S. retailers showed that only 33 of them have met that minimum standard for the past three years. Some of the others may not be around a year from now. Warns K mart Chairman Joseph Antonini: "We are in a very, very overstored situation, whether in specialty shops, discount outlets or department stores. You are going to see shakeouts across the board...
...fastest growing of all the large retailers is Wal-Mart, the discount empire built by Billionaire Sam Walton from his Bentonville, Ark., home base. Between 1983 and 1987, its annual sales increased by a phenomenal 240%, to $16 billion. That surge lifted Wal-Mart to the No. 3 spot among retailers, ahead of J.C. Penney (1987 sales: $15.3 billion), Federated ($11.1 billion) and Dayton Hudson ($10.7 billion). In the past, Wal-Mart has concentrated on rural areas and not posed much of a threat to Sears, K mart or other established chains. But now Wal-Mart is expanding menacingly into...
...1980s. From 1983 to 1987 Ward fell from No. 6 to No. 12 in the retail rankings as its sales declined 30%, to $4.6 billion. But in 1985 Mobil brought in Bernard Brennan to turn things around. Brennan slimmed down the company, selling its catalog operation and a troubled discount division. He transformed many of the remaining stores, filling them with attractive specialty departments. When Ward returned to profitability, achieving record earnings last year of $130 million, Mobil moved to get out of the retailing business while it could demand a good price. The buyer: none other than Bernard Brennan...