Word: retailing
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Dates: during 1950-1959
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Joseph C. Kracht, 50, was named vice president and retail manager of Montgomery Ward (starting Aug. 1), the company's first retail veep in three years. A native New Yorker and Columbia University graduate, Kracht spent 13 years with Ward, then quit in 1950 to become a vice president at W. R. Grace & Co. and then to the same spot with Fedway Stores, a subsidiary of Federated Department Stores...
...Retail trade over the nation ranged from 2% to 6% ahead of the comparable week last year...
POTATO PANIC on the New York Mercantile Exchange a fortnight ago (TIME, June 13) was the result of an attempt to manipulate prices, says the U.S. Agriculture Department. Agriculture charges that Winn & Lovett Grocery Co., a big southern retail chain (200 stores in five states), tried to force prices down by circulating "false, misleading or knowingly inaccurate reports," and that the company sold 1,003 car lots of May potato futures "with knowledge of the fact that they did not have and would be unable to obtain potatoes to deliver...
...line of canned foods for people over 60, said it will begin test-marketing it next month in Cincinnati, which has one of the highest concentrations of older people in the U.S. Heinz "Senior Foods" will be sold in single-serving, 8½-oz. cans, are expected to retail for 25? to 30?. First varieties available: beef, lamb and chicken stews...
...surplus (3,100,000 bags in Brazil alone), Colombia, Costa Rica, Brazil and other coffee countries are having trouble agreeing on international price controls. Reports of a price war caused green coffee on the New York exchange to slide from 58? to 53? per lb. Maxwell House slashed its retail prices first (from 95? to 90?; other roasters are expected to follow suit...