Word: markup
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...thriving as never before. Sales by traditional booksellers (excluding discounters) rose 9% last year to $148 million, and this year they are expected to jump another 10% to 15%. How many of the books sold are actually read is a question beyond statistics. At any rate, booksellers, whose hardcover markup runs to 40% or better, are expecting a record fall. Brentano's Schwartz is admitting how wrong he was in a concrete way: he is doubling the size of his main store on Fifth Avenue, planning to add five more branches to the company's present...
...applying the Golden Rule to its retailers, Samsonite has built up a 15,000-store, nationwide distribution system that almost ensures steady sales for its luggage. The company requires retailers to sell Samsonite at list prices, but gives them a lucrative 40% to 45% markup. Samsonite salesmen tell dealers what luggage to buy and how to display and sell it, compensate them if the recommendations prove wrong, help them to train clerks...
...economy booming, more and more Europeans are eager to buy back the antiques they sold off in the desperation of the immediate postwar depression. European dealers are often found outbidding U.S. rivals at U.S. auctions, shipping their prizes back to Europe to sell at up to 40% markup...
...rates high, since local brands are sudsless-and expensive. Scotch whisky is a durable favorite everywhere. (Enterprising Argentine distillers now produce under license a domestic brand labeled "Old Smuggler," but it cannot quite pass the hangover test, and customers still prefer the imported stuff.) U.S. autos bring a 300% markup on the legal market in Argentina, and there is a thriving undercover import business in crates marked "agricultural equipment." An even more sophisticated wrinkle is smuggling airplanes: near the seaside resort of Mar del Plata, Argentine police are currently investigating a shipment of planes-53 contraband Cessnas and Pipers-smuggled...
...with the American Fur Co. Astor's greed was enormous. If company furs were exported in his own ships, he charged the company for the freight. The trappers who supplied him had to buy their clothes and equipment at American Fur Co. posts at a 300%-to-400% markup. But Astor's personal fortune, which included enormous returns from his investments in Manhattan real estate, has never been accurately determined; he kept scanty records. A conservative estimate put it at $20 million at his death...