Word: penneyer
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Dates: during 1940-1949
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...years San Francisco's Hale Bros., one of the city's oldest and biggest department stores, did business in a six-story Market Street building. For only ten years the J. C. Penney Co. has operated one of its 1,600 stores half a block down Market Street towards the Bay. Last week Hale's and Penney's were switching stores. But most San Franciscans were mystified about the reasons...
Behind the Hale-Penney swap was an object lesson: "How To Get On in the Real-Estate Business...
Then he offered Hale Bros.: 1) a for-the-duration lease at their old rental, or 2) a 50-year lease at $106,000. Hale's management stalled again. The next thing they knew he had leased it out from under them to J. C. Penney for a cool minimum guarantee of $180,000 a year...
...retailer or chain that never carried higher-priced goods before is high & dry on the pyramid's peak. If a J. C. Penney store's top dress price last year was $5.98, and if there are none made today to sell at that low a price, Penney can only stop selling dresses...
...Into the Penney cellar went a home-size experimental Precipitron. Willing helpers in any attempt to lessen Pittsburgh grime were Mrs. Penney and daughter Marjorie Elizabeth, who became the first field-test observers. Quickly they found daily dustings were unnecessary-once a week was enough. Curtains which formerly turned dark in a few days stayed fresh for several months. At the end of two weeks, Engineer Penney filled a quart milk bottle with the black, powdery rubbish from the air. Experience with other installations (about 150 in homes of Westinghouse workers) has improved performance. Manager Penney last week reported that...