Word: newar
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Dates: during 1960-1969
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Discount operators, meanwhile, have had difficulty adhering to their old high-volume, low-overhead gospel. "Customers are demanding from us what they get in traditional department stores," explains Sherwin Newar, president of the Houston-based Sage International discount chain. This means credit, home delivery and more attractive stores-all of which cost money. Though many discount houses cut costs by using checkout counters and shopping carts instead of big sales forces, other increases in overhead have sent their price markups, once about 25%, as high as 35% -ominously close to the typical department store...
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