Word: retail
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Dates: during 1950-1959
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...record clubs are offering "the tremendous inducements . . . heretofore unheard of royalty guarantees" to artists in an effort to lure them away from the big companies. The only way to meet this competition. Columbia decided, was to swing a club of its own, and it offered dealers 20% of the retail price of records bought by every new member they bring in. Columbia is tooled up to service 500,000 subscribers (about 5% of U.S. LP phonograph owners) with performances by Columbia's own stars in jazz, pop, film and classical fields. For every two records bought the subscriber gets...
...manufacturers from foreign competition. With imported bikes grabbing off nearly 40% of the U.S. market, President Eisenhower last week jacked up tariff rates from 7½ to 11¼% on popular, lightweight, large-wheel models, as high as 22½% on other foreign-made bikes. Estimated increase in retail prices to U.S. cyclists: up to $5 a bike. Increase in U.S.-made bike prices: none...
...auto industry, production and sales are pushing to new records. For the first six months, Chrysler reported earnings of $70 million, the highest in its history; Ford and G.M. were also pushing ahead. Overall retail sales in June soared to a $15.9 billion monthly rate, $1 billion higher than last year. In July, for the third month in a row, construction posted a record with $3.9 billion worth of new building. After the C.I.O.'s hefty wage increases, overall steel prices jumped 6.3%, a full ½% more than expected, with the chance of another ½% boost this fall when...
...only living American for whom a cigarette is named, was out as board chairman of P. Lorillard Co. (Old Gold, Embassy, Kent). An upstate New Yorker (Auburn), Kent started selling Lorillard's cut plug and snuff in a horse and buggy, moved up Lorillard's ranks from retail salesman to sales manager to advertising head. He became president in 1942, launched such slogans as Old Gold's "For a treat instead of a treatment." After seven years under his hand, Lorillard hired a management consultant to find out what was wrong with the company, was advised...
BROWN SHOE CO., which acquired the Regal Shoe Co. chain last year (TIME, April 12, 1954), will push deeper into the retail shoe market by merging with G.R. Kinney Co. Under the deal, Brown will exchange two shares of stock for every three shares of Kinney (223,260 shares outstanding), will operate its five factories, 344 retail outlets as a division under present management. Combined sales of the two: $186 million...