Word: grosse
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Dates: during 1950-1959
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Last week the chain's President Donald Robert Grimes, 47, announced plans to grow much bigger. By 1963, he hopes to have 10,000 store members, doing an annual business of more than $5 billion, compared with a 1952 gross of $2.3 billion* (and A. & P.'s volume for the year ended last Feb. 28 of $3.8 billion). I.G.A. retailers are spending almost $9,000,000 this year on 125 new supermarkets and enlargement of existing stores. Next year, another $10 million will be invested in stores...
Thinking Big. I.G.A. stores, which have expanded into Canada, run all the way from small stores, which may gross as little as $50,000 a year, to the "Foodliner," which grosses an average of $90,000 a week. To the central office, grocers pay $600,000 a year in dues ($5.75 a month per store) and special service fees. In return, they can buy at a low markup (3½% to 4%) from wholesalers, get window posters, market information,and help with anything from store budgeting to personnel problems. Another $650,000 a year is paid to Food Brokers...
...expects to jump from eighth to first place among U.S. truckers if a deal to buy West Coast Fast Freight, Inc. is okayed by the I.C.C. With a combined fleet of more than 3,000 trucks, operating between Chicago and the West Coast, P.I.E. expects the companies' combined gross to hit $45 million this year, $4,600,000 more than the No. 1 U.S. trucker, Associated Transport, Inc., took in last year...
...filing in Manhattan of an inventory of the will left by Chief Justice Charles Evans Hughes when he died in 1948 revealed a couple of interesting facts: a gross estate of $1,234,516, and Hughes's high respect for government and municipal bonds as a safe and proper investment. They accounted for $1,101,748 of his estate, while only $39,078 was in private corporation stock-a lone investment in Julius Garfinckel & Co., Washington specialty store...
Nevertheless, newspaper brokers have worked out a number of complicated formulas-always subject to special exceptions-on which they make rough guesses. Sample formulas: the worth of the physical plant plus two or three times the net profit after taxes; the plant plus $10 to $20 for each subscriber; gross receipts plus 20% for good will. But even when they apply any or all of the formulas, brokers like Washington's Allan Kander admit that after they get the result, they "dive for a crystal ball." And the formulas cannot account for the huge increase in values represented...