Word: retailing
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Dates: during 1950-1959
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After nearly a year of negotiations, he signed a deal with Charles Luther Burton, chairman of 80-year-old Simpsons, Ltd., Canada's No. 2 retailer. Sears and Simpsons will each put up $24 million to form a new retail and mail-order company, to be known as Simpsons-Sears, Ltd. The new firm will draw an equal number of directors from both organizations (including Wood himself); its president will be Edgar G. Burton, 49, son of Simpsons' chairman...
...retail price average, which has been creeping up ever since February, finally fell during the four weeks between mid-August and mid-September-but not so much that a housewife could notice it. The Government's retail price index (in which 100 represents the price average between 1935 and 1939) dropped three-tenths of a percentage point-from...
...year ago, and zinc 6? less. The BLS index of all commodities, which had jumped a maximum of 16% after Korea, had lost nearly five percent of the gain and, with the near-record 1952 farm crops coming in, many commodities were expected to fall still more. Since retail prices rise & fall with commodity prices, the drop in commodity prices should mean some lower retail prices in the future...
...what encouraged businessmen most was the fact that some soft spots in the economy were hardening up. In the chemical industry, hit by a mild recession a few months ago, flasks and test tubes were bubbling as never before. Textile plants were also humming again, and retail sales had picked up so fast that there was a shortage in some items such as boys' wear. TV makers once more wore 21-in. smiles as sales spurted-and TV prices rose-with the opening of new TV stations. Admiral Corp.'s President Ross Siragusa reported his sales were running...
Flooded Basements. Instead of expanding like Sears Roebuck during the postwar boom, Ward has lopped about 30 stores from its retail chain (current total: 602). As part of his 6-in.-thick manual of "standard operating procedures," Avery ruled that any outlays for maintenance and improvement that exceeded $15 (and in emergencies $200) would have to be approved by him personally. "You could have a basement full of water," said one Ward alumnus, "and not be able to do anything about it until you got Avery's name on a piece of paper. If you wanted...