Word: discounts
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...former CEO, "Chainsaw" Al Dunlap, just last month settled a shareholder suit stemming from his stint at the small-appliance maker.) Sunbeam recorded the sale of gas grills and other goods well before they left the warehouse. Many of the items never did get shipped. By offering retailers deep discounts to place orders months before they normally would and by booking those sales immediately, Dunlap was able to show escalating revenue and earnings. Eventually, though, the scheme collapsed as retailers couldn't sell enough appliances even at discount prices and had to cancel orders...
...inventories swelled by 5.6% as sales fell. Hood estimates that for each 1% increase in inventory this year, K Mart's cash flow will drop some $40 million. That's money the company needs to continue its program to remodel old stores and build new Super K supermarket-discount stores. If K Mart had been as efficient in selling as Wal-Mart, it could have earned $200 million in the third quarter instead of losing $224 million...
There are a few tricks to remember when using these sites. Keep in mind that the lowest price doesn't always mean the best deal. Shipping costs, which aren't always displayed, can quickly eat up any savings. And if a discount merchant has a poor rating or doesn't have the product in stock, that low price flashing onscreen will do you as much good Christmas morning as a lump of coal in your stocking...
...Poor nations in the region had long said the high cost of the drugs was taking a toll in human lives. Their case was later bolstered when the U.S. and Canada, fearing terrorist anthrax attacks, pressured German giant Bayer to sell Cipro, its anti-anthrax drug, at a steep discount...
...emphasizing family ties this year. Montgomery Ward has donated $2 million worth of VCRs and videocams to the U.S.O. for American troops stationed in the Persian Gulf...The J.C. Penney's in East Brunswick, N.J., is kindling the holiday spirit with a giveaway. Customers can get a $10 discount on new coats by turning in any old coat; the used garments are then donated to the needy. Retailers are also bolstering service, in the hope that they can hold on to the customers they have. At Saks on Michigan Ave. in Chicago, says store manager Joan Tillman: "We treat each...