Word: discount
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Dates: during 1980-1989
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...credit arrangements. But K mart Corp, knows that the way to the shopper's heart is still through the pocketbook. Most of the 1,750 stores around the country that show off the company's big red K are riding out the recession relatively well, and the discount chain may displace Sears, Roebuck and Co. as the U.S.'s leading retailer...
...discount chain rang up $12.7 billion in sales last year, with profits of $358 million, second only to Sears' $17.5 billion volume. In the first six .months of 1980, K mart's sales grew by an additional 14.1%, while Sears slid 2.2% and Penney's rose a mere 1%. Since K mart's sales have averaged a 19.3% annual growth since 1970, many analysts expect that it will pass Sears by the mid-'80s. Says Detroit Investment Analyst Mariann Kotas: "Leaving aside Sears' insurance business, K mart already is No. 1 in retail profits...
...with all the airlines following the same script, price wars have broken out. Eastern sparked the current New York-California fare battle in which a one-way ticket now costs $129, compared with the old coach fare of $317. At the discount price, the airlines lose money unless the jumbo is at least 90% full. Many are not. TWA, American, United and Pan Am matched Eastern's price. Similar air wars have been fought on other popular routes, such as San Francisco-Los Angeles and New York-Miami...
...only $6,000 rather than the $100,000 purchase price. McCray now expects to make $4 per day on each cow and receives as a bonus any offspring born during the lease. He also expects to exercise an option that would permit him to buy the cows at a discount when the contract expires in 1985. As long as credit money to farmers remains tight, Quality Holstein Leasing is likely to be rolling in clover...
Along with the reported $60,000 Scandinavia's SAS Airlines paid him last year for wearing their logo on his sleeve, came free first-class air passage on SAS for him and discount fares for his parents. Donnay racquets of Belgium, which is paying him around $600,000 a year plus a commission on each Borg model racquet sold, also must provide the star with the 30 or so $75 racquets he takes with him to tournaments. In Australia, he endorses Bancroft racquets for another $90,000 or so a year and all the racquets he can break. Fila...