Word: neistadt
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...address before the convention-made by Richard M. Neistadt of San Francisco-scored the common practice of holding "anniversary" and other "bargain" sales, as a form of "super-stimulation" which fails of profit, lowers business standards, undermines public confidence. To some extent, Mr. Neistadt declared, clearance sales are a necessary part of merchandising, since no merchant can exactly forecast his requirements and is, therefore, bound to have some goods left over which can be sold at cut prices. But retailers use these goods as a nucleus only; they go out and buy other merchandise to put with them...
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