Word: magalog
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DIED. Gary Comer, 78, philanthropist and entrepreneur who founded the mail-order giant Lands' End; in Chicago. With an emphasis on sturdy products (famously sold as "Guaranteed. Period") and a clever, anecdote-filled "magalog," the world-class sailor turned a small sailboat- hardware business into a $1.9 billion clothing company before selling it in 2002. Downplaying his savvy, he said, "I picked things I liked, and over the years people interested in the same things gathered around...
...this point, Abercrombie & Fitch is a blockbuster. Its sales have jumped from $165 million in 1994 to an estimated $1.06 billion in 1999. Profits should reach an estimated $148.5 million. The company has expanded from 36 stores in 1992 to 230 this year. Its quarterly "magalog" has become a youth manual. In schools across America, Abercrombie is shorthand for popular. "They've shot out from nowhere to become part of teen culture," says Michael Woods, vice president of Teenage Research Unlimited. Last year kids ranked A&F as the sixth coolest brand--up from 11th, and passing Levi...
...cool on Wall Street. The stock was pounded last October on fears that the company's 30% annual growth might be slowing. Yet in the Christmas quarter, sales rose 27% on the strength of the magalog, themed Naughty or Nice, which gained notoriety with its racy pictures and an interview with a porn star, prompting public complaints from the attorney general of Michigan and the Lieutenant Governor of Illinois. The Establishment outraged--what better way to appeal to the youth market...
Bloomingdale's says it added the ads to make its catalogs more distinctive than the 8.5 billion others mailed last year. The carefully calculated result resembles a chic fashion magazine as much as a catalog; it is a hybrid that might be called a magalog. But, after studying the finances, John Chunko, vice president of Catalogue Media Corp., concludes, "By accepting ads, large catalogers are realizing that they can make $5 million in profit over five years and not hurt themselves...
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