Word: markup
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Dates: during 1950-1959
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...fatten up for market, are lucky to make a 10% profit-provided that they guess right on what the price will be when they sell. Meat packers' profits are smaller: last year they were six-tenths of a cent on each dollar of sales. The retailer, whose average markup on beef is 16%, often has an overhead that eats up much of this...
...their income on living essentials, and 2) it cuts the buying power of the groups that buy the biggest share of goods, thus is apt to hurt sales. Moreover, a manufacturer's tax would pyramid if a retailer included it in the price on which he figured his markup. Thus a 5? tax on a manufactured item could get marked up to 10?. Above all, such a tax would cut sales now when there are evidences of overproduction and possible deflation...
...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, Inc., which furnishes wholesalers with I.G.A.-brand items (accounting for 10% of store sales...
...only worth every penny they cost, but even more. For example, Manhattan's Sophie of Saks Fifth Ave. custom salon, where cocktail dresses sell for as much as $695, just manages to break even; the salon is operated only for the prestige it brings to the store. The markup for expensive clothes is heavy-up to 100% of cost-but it has to be so to cover overhead. At a high-fashion house like Nettie Rosenstein, the cost of designing a dress and turning out one sample may come to more than $1,000; so few copies are sold...
...kept the bicorne-hatted Napoleonic figure as a symbol, but toned down the goofiness of his ads. Says he: "We have to deal with bankers now, and bankers are very stuffy people." But he has used the same drumfire method (including skywriting) to sell his sets. Furthermore, his markup is so low (only about 20% above cost) that his is one of the few sets whose "list" price discount houses can seldom shade. He built volume on a slim profit; last year's $49.9 million sales yielded only $691,657 net, after taxes. Nobody knows whether Muntz will survive...