Word: retail
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Dates: during 1980-1989
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...prototype of the Ghermezian consumer center is the West Edmonton Mall, a $750 million garden of retail delights located 350 miles north of the Canada-U.S. border. Far and away the world's largest shopping mall, the sprawling indoor complex is crammed with 836 stores, 110 restaurants, 20 movie theaters and a 360-room hotel. Covering 5.2 million sq. ft., or the equivalent of 108 U.S. football fields, the West Edmonton Mall is twice the size of North America's runner-up shopping mall, the Del Amo Fashion Center in Torrance, Calif. The dimensions loom even more impressively...
Nonetheless, more than 100,000 people a day, as many as 40% of them from the U.S., travel to the Edmonton complex, and with good reason. The Ghermezian mall contains a mammoth amusement park, with entry free of charge. Fully integrated into the retail complex, it comes complete with roller coasters and carrousels (47 rides in all). The mall also boasts an 18-hole miniature golf course and a $5 million hockey rink where Superstar Wayne Gretzky practices with the Edmonton Oilers. The center's Waterpark sports a 600-ft. water slide and a 2.5-acre artificial lake featuring...
Consummate merchandisers, the Ghermezians were looking for ways to lure retail shoppers in a thinly populated region where the winters are long and temperatures often dip to -40 degreesF. Much of their concept is blatantly borrowed from Disneyland -- right down to the name of their amusement park, which they have dubbed Fantasyland. (Walt Disney Productions is suing over use of that name.) But the Ghermezians view the delights of their pleasure dome unsentimentally. "We do not make money on the entertainment," says Eskandar, fortyish, one of the less secretive of the brothers. "We make money on the retail sales...
Last February IBM was embarrassed by its loss of a $27 million Internal Revenue Service contract for 15,000 lap-top PCs to Zenith, a relative newcomer to the industry. In April IBM abandoned the retail computer business, selling 81 stores to NYNEX, the New York-based regional telephone company. The shops had sluggish sales in part because they offered only IBM machines, while competitors stocked a wide range of models...
...sales associate Helen Rosie says all this year's dresses seem to be short, above the ankle. "We have a lot of lacy, saloon-girl dresses by Gunne Sax, and dresses with a ruffle in back are also popular," Rosie says. Formal dresses in Jordan Marsh's junior department retail...