Word: retail
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Dates: during 1980-1989
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...does, few Beta owners will be surprised. Anyone who has tried to rent Beta movies has had difficulty finding recent film releases. Even though most major Hollywood studios still produce Beta versions of their movies, retail stores and rental shops devote most of their shelf space these days to the more popular (and more profitable) newly released VHS versions of such films as Roxanne and Tin Men. But as the ranks of Beta devotees thin out, they have one small consolation. They will face less competition in renting the Beta ) tapes still available. When they want to check out that...
Socialites who feel insecure shopping anywhere but at the most exclusive salons may want to consult the opinion of an unexpected new arbiter: U.S. District Judge Robert Sweet. Last week the Manhattan-based judge named the 55 classiest retail stores in the U.S. He compiled the list as a way of enforcing a November trademark-infringement ruling in which he prohibited the toniest U.S. stores from selling Elizabeth Taylor's new fragrance, called Passion (price: $165 per oz. of perfume). Sweet had ruled that the upper-crust marketplace already belonged to an older Passion ($270), which the French firm Annick...
CHUTZPAH AWARD The hands-down winner is Lyn Dunsavage, who in July brought her New York, Texas Cheesecake to, of all places, New York, New York, hoping to find retail outlets. Baked back home, this lemon- and vanilla-flavored cake is based on a recipe Dunsavage's mother developed after being beguiled by the original on a trip to the Big Apple. The verdict from this aficionado of the genre: not bad, but a bit too sweet and creamy to fool connoisseurs...
...foot-tall doll will retail for $19.95, Hudson says, but the make-over cannot be finished in time for Christmas. In the South Korean factory where the unsold Ollies languish, workers will refit the doll with a new Gorbachev head, complete with the famous wine-stain birthmark on the scalp. The Marine uniform will be replaced by a stylish Italian suit. The clothes will be be padded to mimic the Soviet leader's bulky physique. From the neck down, the plastic Gorbachev is actually a knockoff of Ken, the Barbie doll's popular boyfriend...
Still, consumer spending accounts for about two-thirds of the economy. If retail sales slow down much more sharply than expected, that would overwhelm the benefits of increased exports and capital outlays. For that reason, the economists admitted that there is a significant chance of a recession in 1988 -- perhaps 20%. Some experts doubt the economy could withstand another body blow from Wall Street. Says Economist Gerald Holtham of Credit Suisse First Boston in London: "The only thing that could push the U.S. into a recession is another panic sell-off on the stock market that hits consumer confidence...