Word: nonfood
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...most dramatic expansion has come in high-profit, nonfood lines. Unlike other food chains, which are often content to put general merchandise on the grocery shelves, Jewel early chose to diversify in depth by acquiring the Midwestern-based Osco chain of drugstores and Boston's Turn-Style discount stores. Under Jewel, Osco has grown from 30 stores to 133, Turn-Style from four stores to nine. A growing number of these outlets now are situated under the same roof as grocery operations, providing shoppers with one-stop service for everything from canned peas to cameras, drug prescriptions to complete...
...chief executive on Dec. 1 when Board Chairman Porter M. Jarvis retires, taking his title with him. Reneker made his reputation in sales and is the first man to reach the top spot without a solid grounding in meat operations-which suggests that the company, having branched into such nonfood items as chemicals and insurance, plans further diversification. Admittedly curious about rumors of Simon's interest in his company, Reneker claims that he does not plan to let Swift go the way of other meat packers such as Wilson & Co., which was acquired by Ling-Temco-Vought, and John...
...picture industry ($12.8 million earnings last year on revenues of $193.7 million) is a long step. Until this year, Consolidated limited its acquisitions to the food-processing business. The United Artists merger will not only put Consolidated over the billion-dollar sales mark this year but take Cummings into nonfood fields with vast possibilities. "We believe," said Cummings, that "the merger with United Artists is the most important diversification made by our company since its founding 27 years...
...cost of lower earnings, it rescinded some of the price rises. Last year it brought in a 52-year-old president, Melvin Alldredge, who, unlike Chairman lohn D. Ehrgott, 68, has worked as an A. & P. store clerk and manager. And it has begun to stock more nonfood items, from towels to toys, which carry markups as high as 42% v. only 16% for the edibles...
...opened a group of Super S stores that sell sporting goods and small appliances instead of groceries. Third-ranked Kroger now operates 131 drugstores. Two weeks ago, Grand Union announced a 6% sales gain (to $667 million in 1963) but credited one-sixth of its revenues to its nonfood discount stores...