Word: floorman
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Dates: during 1970-1979
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...inflation and recession has been squeezing profits hard at a number of big chains -among them Sears, J.C. Penney, Montgomery Ward and Kresge-U.S. retailers as a whole are not in as bad shape as Grant's troubles might suggest. Kendrick, 61, a former Grant's floorman who took over as chairman last September, believes that the chain's slide can be reversed before too long. He plans to cut back to a "hard core" of 900 stores by 1977, slash capital spending by 90% in 1975, and return to the low-cost soft goods that...