Word: margins
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Dates: during 1930-1939
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...small reductions in the cost of handling the average transaction, but the smaller sales volume resulted in percentages of operating expenses to sales which were considerably higher than those for any other year covered by the Harvard studies. These higher rates of expense were accompanied by rates of gross margin slightly smaller than those achieved in 1930; so that earnings were substantially reduced...
...Department stores with sales of $2,000,000 or more on the average last year incurred expenses including interest on capital owned amounting to 36 per cent of sales. Gross margin, on the other hand, was only 33.2 per cent of sales, so that these department stores last year commonly earned 2 per cent on net worth. Specialty stores with sales. of $2,000,000 or more reported a smaller net loss on their merchandising operations, 1.7 per cent of sales, but a smaller final net gain on net worth, 1.6 per cent. The smaller department stores and specialty stores...
...report, the Harvard Bureau gives for the first time typical figures for margin, expenses, and profit per average gross sales transaction. These figures show clearly that stores last year reduced the cost of handling the average transaction. This resulted in part from an increase in the average number of transactions handled per employee. The slightly lower percentages of gross margin on the smaller average sale, however, did not yield sufficient margin to cover even the reduced expenses...
While the increase in stockholders would seem to represent a much greater public participation in the market during the past two years, it paradoxically represents to a fairly large degree the withdrawal of the public from active trading in the market. Stock carried on margin is usually registered in the broker's name...
...pools are run. Because the risks are great, the pool's sponsor usually invites only his richest friends to form a syndicate. Each shares in the profits (or losses) in proportion to his subscription. Each usually makes a cash deposit for the pool manager to use as margin in his trading operations. Each is pledged to strict secrecy. With dictatorial powers, the pool manager begins accumulating stock, buying a little more each day than he sells. Stock is dumped if the price rises noticeably. When the manager has the stock he wants, publicity is shot out, bullish rumors about...