Word: marte
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Dates: during 1980-1989
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...profit is a 15% return on stockholders' equity. But a survey by Management Horizons of 300 large U.S. retailers showed that only 33 of them have met that minimum standard for the past three years. Some of the others may not be around a year from now. Warns K mart Chairman Joseph Antonini: "We are in a very, very overstored situation, whether in specialty shops, discount outlets or department stores. You are going to see shakeouts across the board...
...facades. On 42nd Street, Klein and his partners at the Prudential Insurance Co. have agreed to acquire most of nine architecturally precious old theaters (many now showing sex-and-mayhem movies) and spend $9.2 million to renovate those that become nonprofit playhouses. (A new hotel and merchandise mart are also envisioned for the same stretch of 42nd Street.) Finally, Klein and company will spend $81.8 million to spruce up the surrounding sidewalks and overhaul the purgatorial Times Square subway station. "We can create the most extraordinary buildings in the city and create a sense of place there," says Johnson...
...suburban Dallas emporium belongs to a booming category of retail store called the hypermarket. "I've never seen so much under one roof," says Martha Mason, a homemaker visiting Hypermart USA. "I could spend days in here." Sam Walton certainly hopes so. The founder and chairman of booming Wal-Mart discount stores opened his first Hypermart USA last December as a joint venture with the Cullum retail chain. Last week he opened a second in Topeka. "It's a test," says Walton, whose 1,114 Wal-Marts are generally a third the size of the Hypermarts. But as he tells...
...Analysts estimate that Bigg's, a Cincinnati hypermarket opened by Euromarche, a French firm, has lost at least $9 million since it was opened three years ago. But the large U.S. chains believe they can make the idea work by selling name-brand goods at paper-thin markups. K mart announced last September that it will form a joint venture with Bruno's, an Alabama-based grocery-store group, to open a national hypermarket chain. Archrival Wal-Mart, meanwhile, hopes to open 50 Hypermart USA stores during the next eight years...
...orchestra started again before the lights went down and the crowd immediately fell quiet. The curtain rose on ethereal angels with silver lyres, that looked like K-Mart specials. Then the angels floated off stage (and with them the dry ice that had provided a Vegas air to the scene), and our hero and heroine returned--in a balloon...